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 representatives) 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.
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%.