# 46 C.F.R. § 356.9 (2026): Tiered ownership structures

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T46_P356_S356_9

## Section

- **Citation:** 46 C.F.R. § 356.9 (2026)
- **Heading:** Tiered ownership structures
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 46 CFR: Shipping / Chapter II: MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION / Part 356: REQUIREMENTS FOR VESSELS OF 100 FEET OR GREATER IN REGISTERED LENGTH TO OBTAIN A FISHERY ENDORSEMENT TO THE VESSEL'S DOCUMENTATION / Subpart B: Ownership and Control / § 356.9: § 356.9   Tiered ownership structures.

## Text

Non-Citizens may not own or control, either directly through the first tier of ownership or in the aggregate through an interest in other entities at various tiers, more than 25% of the interest in an entity which owns a Fishing Industry Vessel. The prohibition against Non-Citizens owning or controlling more than 25%, in the aggregate, of the interest in an entity that owns a Fishing Industry Vessel means, for example, that:
(a) Non-Citizens that own or control a 25% stake in the ownership entity of a Fishing Industry Vessel at the first tier may not have any interest whatsoever in any entity that is being relied upon to establish the required 75% U.S. Citizen ownership; and
(b) Non-Citizens that own or control less than a 25% stake at the first tier may participate in the ownership and control of other entities that are being relied upon to establish the required 75% U.S. Citizen ownership and control at the first tier. However, the total ownership and control by Non-Citizens of the entity owning a Fishing Industry Vessel may not exceed 25% in the aggregate as computed by MARAD.

## Nearby sections

- [46 C.F.R. § 356.5 (2026) § 356.5   Affidavit of U.S. Citizenship.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P356_S356_5.md)
- [46 C.F.R. § 356.7 (2026) § 356.7   Methods of establishing ownership by United States Citizens.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P356_S356_7.md)
- [46 C.F.R. § 356.9 (2026) § 356.9   Tiered ownership structures.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P356_S356_9.md)
- [46 C.F.R. § 356.11 (2026) § 356.11   Impermissible control by a Non-Citizen.](https://www.frixlaw.com/law-library/statutes/CFR_T46_P356_S356_11.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T46_P356_S356_9. Check the current official text before relying on it. Not legal advice.