Sarnia Yachts has today announced that, subject to receiving regulatory and competition authority approval, it is being acquired by independent global private wealth and corporate services provider Praxis, in a strategic move that will expand its existing yacht...
In recent months, Sarnia Yachts have developed new technology which allows clients to run their luxury asset efficiently and effectively. This ultimately results in a smooth operation for our owners so they can get the most satisfaction from their investment. The Crew...
HM Revenue & Customs have issued guidance surrounding the movement of yachts in and out of the UK in anticipation of Brexit on 31 December 2020 under Notice 8: ‘Sailing your pleasure craft to and from the UK’. Any yachts not already in free circulation in the UK...
What is corporate yacht ownership and when is it used? Corporate yacht ownership has been utilised for over 50 years but is still misunderstood by people both inside and outside the industry. The perception of the use of a yacht-owning company or ""SPV"" (Special...
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...
With Brexit finally having taken place on the 31 January 2020, the United Kingdom has officially left the EU. The details of the new relationship between the UK and the EU will be formulated during the transition period that is planned to run until 31 December 2020....
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,...
Following hot on the heels of the EU Commissions infringement proceedings against Malta for its leasing programme in 2018, Legal proceedings about duty-free fuel were opened against Italy in November 2018 and developments have now lead to a referral to the European...
For owners who wish to lease a yacht over the planned period of ownership, Sarnia Malta can put in place a bespoke programme that takes into consideration the specific needs of the owner and the unique circumstances surrounding each and every yacht. Whilst operating...