Commissioning a new yacht can be an exciting time however before signing up to their dream build, prospective owners should step back and consider how best to contract with the shipyard. Security for an owner is critical during the construction of a new yacht, as...
Global private wealth and corporate services provider Praxis has completed the acquisition of Sarnia Yachts. The deal, which was initially announced in mid-May, adds a diverse range of services, including yacht ownership, yacht management, crew management, yacht...
Many US yacht owners want to cross over to Europe to enjoy one or more seasons in the cruising grounds offered within the Mediterranean. If these owners wish to charter their yachts during this period in EU waters, this is certainly possible, but a number of important...
In an interview with Onboard Online, Bruce Maltwood, Director at Sarnia Yachts, discusses the developing complexities of a fiduciary business operating in the superyacht industry, what actions owners and charterers need to explore post-Brexit and how Sarnia...
Where charter vessels encounter problems from fiscal and customs authorities we see that these problems have inevitably arisen as a result of reasons, which can be easily avoided. Whilst part of the problem is the varying rules and interpretations between member...
As the new season approaches you might find yourself weighing up the pros and cons of chartering your yacht. Yacht charter has seen consistent year on year growth, albeit with a slight decline during Lockdown last year. However, in a post-pandemic world yachts are...
Further to our article of the 5th December, France is first out of the blocks to provide clarity on the new rules to be applied in relation to the VAT on charters. On 30th January the French Authorities issued the Official Tax Bulletin that details the way that VAT on...
What is changing? Following recent challenges from the EU in relation to yacht leasing, there was an element of inevitability to the announcement on 3rd December 2019 regarding reduced VAT rates on high seas charters. In a move to harmonise the rules across the EU,...
As we reported in April, the 2018 Charter season has been difficult for Greece. Laws introduced in late 2017 effectively reduced the charter market to those guests who were happy to start and finish their charter outside of Greek waters. Reports made it clear that the...