Registering ships in the Cayman Islands is relatively easy because the Cayman Islands Shipping Registry (named the Maritime Authority of the Cayman Islands as of July 1, 2005) has had Category 1 status since 1991, allowing it to register any type and size of vessel. They also have the most super yacht registrations in the world. The Cayman Islands government, a parliamentary democracy, has also been stable since 1831, making them a very advantageous choice.

Registration with the Cayman Islands also opens up many options to registering parties to address certain problems specific to them. Advantages of getting vessels into the Cayman Islands Registry include:

a) A wide range of vessel registration types. Registering parties may choose from Full, Interim, Provisional, Under Construction and Bareboat Charter.
b) A choice of several vessel ownership structures, allowing for corporate and joint ownership among others. This is in contrast to common practice in the shipping industry of allowing only one entity to own a vessel.
c) Incorporation of ILO measures. The measures will ensure the welfare, recruitment and placement of seafarers.
d) Mortgaged vessels are allowed to be registered. Fractional shares can be also be registered on vessels.
e) Enhanced mortgage protection.
f) Tax-free jurisdiction and branches in the United Kingdom, Holland, Greece and Japan.
g) Comprehensive legislation and high compliance standards. The Cayman Islands are directly affected by legislation from the United Kingdom, ensuring that their standards and conventions are up-to-date.

Only nationals from Britain and EU countries and companies registered and present in the Cayman Islands can register their vessels in the Cayman Islands Shipping Registry. Corporate entities and shipping companies who are registered and are present in British and EU territories are also allowed to register vessels in the Cayman Islands Shipping Registry. Registration fees for vessels vary by tonnage.