How many registered joint owners of a boat can there be?

In theory, there could be 320 owners of a vessel because each share in the vessel, there are 64, can be held by a maximum of 5 persons.

In practice, five persons at the most can be registered in the Register as joint owners of the vessel. Should there be more than five joint owners, the recommended solution is the constitution (also known as the incorporation) of a business corporation which will be the registered owner of the vessel, the joint owners becoming shareholders of the business corporation, itself the owner of the vessel.