EISAP congratulates Madeira's Regional Government for supporting the growth and support of Madeira's International Ship Register

The changes now introduced reduce the fee due for the initial registration of a ship to the amount of one euro, in the case of the holder of thirty previous registrations, and reduce the annual maintenance fee for the first and following years to 50%. , when due by the holder of thirty previous registrations.

The European International Shipowners Association of Portugal (EISAP) congratulated the Regional Government of Madeira for supporting the growth and support of the International Ship Register of Madeira (MAR), within the scope of reducing registration fees and other services provided by MAR.

“After the recent changes to Decree-Law 96/89, of 28 March, which created the International Register of Ships of Madeira (MAR), through the approval of Law 56/2020, of 27 August, by the Assembly of the Republic , the measures now announced by the Regional Government of Madeira are another strong signal to national and international shipowners that Portugal is committed to supporting the growth and support of Madeira's International Ship Register ”, says EISAP Secretary General, Nuno Mendão.

EISAP states that the publication of Ordinance 561/2020, of 17 September, of the Vice-Presidency of the Regional Government, last Friday, which promotes the alteration of the initial registration fees for ships, as well as the annual maintenance fees of the International Ship Register of Madeira is another sign given by Portugal as to the importance of keeping the MAR competitive on an international scale, increasing its importance as a strategic tool for the “Economy of the Sea”.

It also stresses that the changes now promoted are of particular importance in the current situation, marked by a deep economic and financial recession on a global scale, the dimension of which is not yet fully known, in that: they reduce the fee due for the initial registration of a ship to the amount of one euro, in the case of the holder of thirty previous registrations, and reduce the annual maintenance fee, relative to the first and subsequent years, to 50%, when due by the holder of thirty previous registrations.

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