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...
As the world becomes more litigious a number of shipyards have changed the way they work, facilitating subcontractors to carry out work, and it’s not always immediately obvious. Instead of a yacht owner contracting directly with the shipyard for all works, some...
After a long period of consultation, on 28 February 2019, the Malta VAT department finally released new Guidelines including the VAT considerations on use and enjoyment for pleasure boats spending time both inside and outside EU territorial waters. These guidelines...
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...
Ever since the EU instigated the infringement proceedings, a shake-up of Maltese Leasing was inevitable. The EU commissioners raised questions as to whether Maltese Leasing met the tests set out in the ECJ ruling (Mercedes case) in determining if Maltese Leasing is a...
The yacht charter industry has been around for several decades now and in the early days, yacht chartering was a less formal and rigorous transaction than it is today. Fast forward to 2018 and what we have now is a complex arrangement involving a myriad of various...
Sarnia’s Bruce Maltwood, Director, and Dan Armsden, Yacht & Crew Technical Manager, recently gave a presentation to a select audience working in wealth management, family office and trust services in Guernsey. They provided an insight into how Sarnia Yachts began...
Non-EU flagged yachts in free circulation in the EU need to consider Return Goods Relief if they intend to leave the EU. RGR allows EU origin goods or goods which were in free circulation within the EU at the time of removal from the EU (Outward Processing), to be...
Further to previous discussions on the EU challenge to the French Commercial Exemption, and our on the subject, the French Authorities issued Bulletin Officiel des Finances Publiques-Impots (BOFIB) on 12 May 2015. This bulletin provides some clarity on a commercial...