A ship register in a country that offers incentives to ship owners from other countries to enter their vessels in that particular register. Some incentives often offered are little or no tax liability, no restrictions on the nationality of crew, and low registration fees. The vessel will fly the flag of the country where it is registered. Examples of open registries are Panama and Liberia. Abbreviation: FOC. Synonym: open registry.
flag State in which a ship has been registered only to gain some financial or legal advantage.
Registering a vessel in another country, i.e. changing nationality, to save costs and to benefit from more lax regulations regarding working conditions and labour laws.
The flag of a ship is the flag of the country of its registration. The term "flag of convenience" refers to the flag of a country which is chosen for ship registration in order to achieve financial benefits such as no taxes on international shipping operations and other non-tax advantages such as lower labor costs, crew requirements and trade union laws.
A flag of a particular country flown by a foreign ship registered there to take advantage of that nation's weaker financial or legal regulations.
a registry of a country whose authorities do not apply the strict rules that other countries apply for ships or aircraft registration, safety standards, and related control
A flag flown by a ship of one nation that is registered under the flag of another nation.
The national flag flown by a ship that is registered in a country other than that of its owners.
Sometimes referred to as flag of necessity; denotes registration of a ship to a nation, other than the nation of the vessel's owner, that offers favorable tax structures, regulations, and other incentives.
Where a ship registers with a flag of a country not requiring high standards of compliance to safety, inspections, surveys, etc. it is said to be registered with a 'flag of convenience'.
A shipowner registers a ship in a nation that offers conveniences in the areas of taxes, manning, and safety requirements. Liberia and Panama are two nations known for flags of convenience.
A flag of convenience is a flag of one country, flown by a ship owned by a citizen of another country. The ship owner can thereby often avoid taxes and make registration easier; the country providing the flag charges money for that service. The International Transport Workers' Federation (ITF) maintains a list of countries that use their flag for this purpose.
