RMI YET Program Continues to Expand

More than 10 years after its launch, the Republic of the Marshall Islands (RMI) Yacht Engaged in Trade (YET) program continues to make a strong impact on the global yachting community. The YET program has been embraced by several jurisdictions, including France, Monaco, Croatia, Greece, and the United Arab Emirates.

The program continues to expand to new jurisdictions. In September 2026, during the Monaco Yacht Show, the Kingdom of Saudi Arabia formally accepted the YET program through a memorandum of understanding (MoU) adding another jurisdiction to the program. The MoU also allows for further collaboration on the development of regulations aimed at enhancing maritime safety and protecting the marine environment.

“As yachting grows in popularity across the Middle East, we welcome the opportunity to collaborate with the Saudi Red Sea Authority and extend acceptance of YET to Saudi waters,” said Patrick Bachofner, Director, Geneva Office and Worldwide Director, Yachts, for International Registries, Inc. and its affiliates (IRI), which provide administrative and technical support to the RMI Registry.

The program permits privately registered RMI-flagged yachts that meet full commercial-compliance standards (≥24 m Load Line) to undertake limited charter activity in designated recognized waters. Eligible yachts may charter up to 84 days per calendar year while maintaining private registration and without permanent importation or conversion to commercial status. The framework allows owners to retain the advantages of private use, while engaging in temporary authorized chartering, without the need for import/export formalities or structural changes to the yacht's registration status.

“The continued expansion of the YET program’s acceptance by other jurisdictions validates the strength and value of the program to owners of RMI-flagged yachts and has resulted in a 133% increase in participation over the past five years,” said Jo Assael, Yachts Commercial Director, based out of IRI’s London office. “YET offers owners unparalleled flexibility, while remaining compliant with international customs and regulations,” he concluded.

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