Yachts offer an attractive lifestyle choice for the rich and famous.
As with any valuable asset, the ownership structure must be carefully considered and the jurisdiction in which the yacht is to be registered is also very important.
Providing extensive experience regarding the importation of yachts and assistance with the coordination of importing the vessel into the EU.
The choice of registration is an important decision and a jurisdiction must be selected that satisfies relevant criteria relating to how and where the yacht will be used.
Dixcart Air Marine assists with every step of the process, from accounting and secretarial services, to directorships, and filing of appropriate returns.
Choosing the right Jurisdiction
Choosing the right jurisdiction for the registration and domiciliation of a yacht is key.
Cyprus is one of the most attractive jurisdictions in the EU for yacht registration and leasing. Alternatively, the Channel Islands, close to the UK, offer several advantages; Guernsey is of interest to owners of certain types of pleasure yacht and the Isle of Man is attractive due to a number of tax efficiencies.
The Dixcart office in Madeira (Portugal) has registered yachts in the Azores and in the low tax international business centre of Madeira. The Azores (Portugal) can be a preferred location for yacht importation into the EU due to its reduced rate of VAT. On the other hand, Malta’s yacht leasing scheme and reputation as an international centre of Maritime excellence, makes it a popular choice for yacht registration
Dixcart has extensive expertise in registering yachts in the jurisdictions detailed below. We have an office in each of these locations, which helps to simplify coordination of the structuring and registration processes:
Full Service List
- Advice regarding the most effective and efficient holding structure
- Advice regarding a variety of tax efficiencies and other advantages available, depending on the particular jurisdiction under consideration
- Coordination of the registration of the yacht and importation into the EU
- Implementation of special purpose vehicles to hold the assets
- Accounting services throughout the project
- Administration and management of day-to-day operations
- Completion and customs arrangements
- Added value services such as directorships and the provision of corporate office holders
- Import and exports formalities, including specific customs regimes
- Asset registration under various registries
- Advice on value added tax and corporate tax
- Liaison with other VAT offices and agents in other jurisdictions
- Costings, budgeting, accounting and statutory obligations
- Assistance with ongoing annual registration requirements
- Closely monitor costs, budgets and cash flow in relation to the asset
- Assistance with crewing, including crew contracts and payroll