Buy a yacht, sail the ocean wide; it’s the idyll – or so it should be! Correct registration, ownership structure, current legislation all impact how, where and who can use your boat. Our experienced team can help you navigate the myriad of complex rules and regulatory red tape.
There are a great number of factors to consider when identifying the correct solution to the ownership and operation of a luxury yacht. As each client’s situation is unique, it’s imperative to enlist the services a company with extensive knowledge, a current understanding of the matters at hand and how to mitigate risk. Correct ownership structure can hinge on a number of external factors such as the tax position of the beneficial owner, the intended use of the yacht (whether private or commercial) and area of operation. For example, for a yacht to operate commercially we must consider the appropriate Flag State, crewing levels and qualifications/required training and VAT planning. In short, no one factor can be considered in isolation as each element is so tightly interwoven that their influence will affect the next. At Pelagos our wealth of experience enables us to effectively determine the best solution, pinpoint potential issues and deal with them in-house.
For your Shore Solutions call us today on + 44 (0)1624 819867.