Employment and payment of crew from overseas can be beneficial, both for owners and for crew.
For owners operating in US waters, employment and payment of crew from overseas reduces exposure to US jurisdiction in the event of a lawsuit. Also, a condition of US visas issued to non-US crew requires that they are not employed in the US. Payment from a US bank is prima face evidence of an Immigration violation that could result in deportation.
As of May 2010, EU, EEA, Isle of Man, Bermuda, Swiss and employers from other countries with reciprocal agreements have to make national insurance and social security deductions for European crew on vessels of those flag jurisdictions. By contrast, employment and payment from other jurisdictions enables crew salaries to be paid gross, leaving crewmembers free to make voluntary social security and NI contributions in their country of choice or to operate a self-administered investment fund for their retirement.
By having a substantive presence in the Cayman Islands, we provide an ideal and safe location from which to operate crew services in a jurisdiction that stands outside the US and EU and does not itself levy tax or other deductions on crew salaries.
Of course, our payroll services are not limited to marine crew. They could be used for any legitimate payroll need.
On the money side, we are able to prepare accounts as desired, from basic account statements through to arranging audits, complete with financial reporting. We simply customise the service to meet the needs of the client. We can also process the opening of bank accounts for qualified applicants.
Crew interests include crew licensing, ISM, ISPS, maritime security reviews and training, STCW, MLC, seafarer employment agreements, crew bank accounts, payroll accounting, seafarer insurance, incidents, casualties, conventions and code compliance. These topics are covered in more detail in the related resources set out below.