Maybe with some search engine(s) but even if it is part of some search engines algorithm it is a minor factor and only one of many that are taken into consideration.

Far more important are things like content, backlinks, age of site, page title, keyword frequency, keyword with H1 tag, etc.

But as already suggested you should probably take advantage of any option that might help. If you expect the site to still be active in 2 years register for more than a year. Can’t hurt