Do you need to arrange a yacht registration?
The registration is not an easy process, among other things it requires more demanding administration, knowledge of the tax system, national legal systems, local specifics and security issues. We can help you with all of it. Before buying a yacht, you should firstly find out about the conditions and benefits of offshore registration. Haven’t got a yacht yet? Here is an international website that offers yachts to your liking.
One of the most important decisions is choosing the right ownership structure and jurisdiction for registration
The flag selection should be made at an early stage of the purchase, ideally before the purchase contract is signed.
To choose the most appropriate jurisdiction for the yacht ownership and registration, you will need to carefully consider a variety of factors.
An important issue to consider before buying is the decision to protect newly acquired property in the form of a yacht.
Purchase as an individual or as a company?
The advantages of registering a yacht as a company over individual ownership are as follows:
- Residence of the main yacht user and guests (more important within the EU)
- Its physical characteristics (how old it is, length, etc.)
- Existing yacht registration
- Availability of historical proof of ownership / additional documentation
- Intended use of the boat (ie private or charter)
- VAT registration or yacht equivalent tax status;
- Areas of operation and primary port / country of use
- Crew specifications and operational aspects.
Choosing a shipping register and its reputation is vital!
- Political stability - how stable is the government and economic situation in the state of registration?
- Registration process - will you have convenient and quick registration in your jurisdiction?
- Credit - security of loans for yachts registered in the selected state.
- Registration fees
- Services - what about the business infrastructure in the flag state, if the support services are comprehensive and professional?
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