The British Virgin Islands is a popular place to register boats and yachts.
The main reason the BVI is selected as a primary choice for this service is because it has an advanced boat registration system and tax-breaks for companies.
For more information, see this BVI boat registration website. Other advantages include the red ensign. Under the red ensign, boats are entitled to UK naval support and are granted access to international harbours. Also, the red ensign is a prestigious one, differentiating your yacht from yachts flying other ensigns.
The central reason for BVI Yacht Registration is the anonymity of ownership and fact that there are no taxes on the yacht.
Also, yachts registered in the BVI don’t pay for cruising permits in BVI waters.