Yacht Financial Reporting
One of the most important aspects of the yacht operations is the financial management and the production of reports to the beneficial owner in line with pre-agreed budgets.
There are requirements from both the corporate and yacht management aspects of the structure and Sarnia Yachts has a finance team that provides the requisite output and visibility to satisfy owners, directors and auditors including reporting, budgeting, bookkeeping and financial statement preparation.
With pre-paid cards for captains & crew to meet day to day on board expenditure and a cloud based platform to facilitate cash/card receipt uploads from captains, the full wrap around service is available.
Our experienced finance team can provide a full financial management service.
Potential tax liability for Italian new build yachts
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...
Sarnia Yachts acquisition by Praxis completes
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...
Shipyard Works – Beware the spider’s web of contractual obligations, liabilities and insurance cover
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...