Private yachts
We have over 20 years' of experience in the pleasure yacht industry. We mainly act for high net worth individuals in relation to tax efficient ownership structures, registration, construction contracts, sale and purchase agreements, financing, charter agreements and crew and regulatory issues. We work closely with your other advisors and Captain during the term of ownership and provide advice, when necessary, on any subsequent sale.
We have acted for buyers and sellers of yachts up to 75 metres, producing or analysing all related documentation. We have close relations with a number of company formation agents and frequently set up and maintain companies in various jurisdictions (including the Cayman Islands, BVI, Channel Islands and Isle of Man) to own these vessels. We can also provide tax advice on the best means of ownership and subsequent disposal of vessels, including advice on the exportation of yachts from the EU and how to sail in EU waters without attracting VAT.
We work closely with a number of brokers in relation to the day to day ownership of vessels including matters relating to running costs, repairs, crews wages, radio licences, registration and the captain's operation of the yacht.
Key contact: Andrew Sorrell