Yacht registration and Fiscal Aspects
When you purchase a vessel, it is very important to decide on the best suitable country to register your yacht, in fact it is the most important aspect of the ownership process.
Do you prefer a private or company ownership? With a commercial registration you may charter the yacht. With a 30% market share, and recognized status as the world’s leading country for commercial yacht yards and equipment suppliers, it makes good sense for the Netherlands also to offer a premium registration solution for commercial yacht owners.
The Dutch flag offers a one-stop shop for construction, registration and crewing of commercial yachts. A clear operating model is in place and owners (and their repre-sentatives) can rest assured that their yacht is in the safe hands of professionals.
Super yachts exploited on a commercial basis in The Netherlands are registered as CCV meaning Commercial Charter Vessel.
JTC is a worldwide Law, Fiscal and Accounting organization that range from small and medium sized enterprises to multinational companies. JTC’s global network also includes a number of flag states and jurisdictions in locations which are favourable in the context of yacht ownership.
Superyachts Europe has a fine relationship with JTC in Europe.
JTC’s yacht services include corporate structuring for private and charter yacht ownership, Crew employment and payroll services, Accounting and reporting services, Vessel registration, VAT importations into the EU for yachts.
Malta prides itself of a sophisticated network of English speaking professionals coming from different areas such as legal, accounting, VAT and audit professionals with a deep knowledge and understanding of the various aspects of the maritime industry.
Superyachts Europe have built a good relationship with the CSB Group in Malta, which is uniquely able to offer an integrated service for our clients’ yachting requirements.
CSB Group are a leading Maltese International Law and Fiscal organization, which can assist and provide you with up-to-date information and take responsibility to issues as:- VAT regulation, - Importation, - Flag registration, - Crew payrolling and social securities, - Tonnage Tax, - Income Tax, - Charter Activities, - Finance, -Residence planning, - Banking, company directorship, Accounting, etc.
As a one-stop shop, CSB Group is the specialist in yacht services with the necessary expertise including the registration under the Malta Flag. Under the Malta Flag a yacht may be registered as a Private yacht or a Commercial yacht.
There also are popular registrations for flags under, Marshall Islands, Delaware (USA), Poland (EU) and Panama.
The Red Ensign Group (REG) is a group of British shipping registers, which are operated by the UK:
the Crown Dependencies (Isle of Man, Guernsey and Jersey)
UK Overseas Territories (Anguilla, Bermuda, British Virgin Islands; Cayman Islands, Falkland Islands, Gibraltar; Montserrat, St Helena, Turks & Caicos Islands). These countries have acceptable safety regulations for travel in EU countries, while also having more attractive tax structures than the UK. In fact, company tax is set at 0%.