Open Registry Model Discussed at Marine Money Istanbul Forum
AKT Partner Rona Kaspi presented on the open registry model's increasing industry prevalence and Turkey's recent reforms to emulate it more closely at Marine Money's Istanbul Ship Finance Forum last week.
Kaspi highlighted the strengths of open registries, identifing the term "foreign-flag" as outdated and the open registry as a "service business" operating at high standards. He explained that open registries can offer continous services worldwide by appointing agents who are "not bound by the bureaucracy of the consulate."
Kaspi also stated that countries with open registries tend to offer favorable financing and mortgage legislation, and outlined how Turkey's regulations are evolving to match those models.
We thank Mr. Kaspi for speaking at the conference and sharing his presentation materials with us, available as follows.
