12. Who is eligible as Malaysia International Ship owner?
Eligibility as the owner of Malaysian International ship: -
- Company incorporated in Malaysia;
- The company must have an office in Malaysia;
- Majority (51% or more) of the shareholding are held by foreigner;
Paid up capital must be 10% from the value of the ship or Ringgit Malaysia One Million or whichever is higher.
13. Where can the ship be registered under the Malaysian International Ship Registry?
Port Register for Malaysian International Ship registry in Malaysia is Labuan.
14. What are the requirement to register the ship under the Malaysian International Ship Registry?
- Equipped with mechanical propulsion system.
- Not less than 1,600 tonnage
- The oil tanker or bulk carrier age does not exceed 15 years;
- The age of the vessel other than as stated above not exceed 20 years.