Built in 1934, the Wellington served with the Royal Navy from 1934 to 1945. Since 1947 she has been the home of the Honourable Company of Master Mariners More
VAT is not a hot topic. People don’t usually queue up to learn more about it. So it was a pleasant surprise to see that the 1st SOS Yachting VAT Workshop in Monaco was overbooked and attendance was excellent - notwithstanding the early wake up. SOS Yachting’s core business is VAT representation for yacht owning companies operating in EU countries which have adopted the ‘place of supply’ rule for the payment of VAT on charters. The aim of the workshop was provide an ov... More
As the days tick away the industry is awaiting the 25th Monaco Yacht Show with anticipation. There is a wide cross section of vessels on display and Bob Atkinson from B Capital will be attending as usual and available to meet with any existing owners or prospective buyers and interested parties to discuss how yacht financing could help and be an efficient use of capital. More
The Bulletin Officiel des Finances Publiques-Impots (BOFIP) of May 12, 2015 which integrates the existing French Commercial Exemption (FCE) has already generated a lot of chatter and some concern. The scope of the amendment is far reaching and will impact the industry in a number of ways, mostly for the good. Also, given the intricacy of EU VAT regulations (which the yachting industry has been bemoaning for the past few years), it introduces one welcome element: clarity. In the long term, a... More
The Italian Yachtmaster association convened its first Legal Day in April and invited a number of experts to discuss some of the most confusing aspects of chartering in Italian waters. Alessandro Mazzoni, CEO of SOS Yachting, and SOS Yachting’s legal adviser, Ezio Vannucci from Moores Rowland Partners, took part together with representatives from Pesto Sea Group, Agenzia Marittima De Felice, San Giorgio Shipping Service, Yacht Welfare and Femobunker. Bearing in mind that fiscal represe... More
In March Marina Porto Vell hosted a round table with a number on industry professionals to discuss the current state of the yachting industry in Spain and how to move forward with the aim of fostering what is showing signs of becoming a bourgeoning market. On the up side, it is beyond doubt that the Matric Tax exemptions have generated a positive impact.In less than one year the charter fleet has grown from 0 to over 30 yachts over 40m operating in the islands and the mainland. Over 60 yach... More
SOS Yachting Italy has just received confirmation from the Italian maritime authorities that, as provided for by Law decree 171/2005 art. 2 para 3 (Italian Yacht Code), all EU and non-EU yachts planning to charter in Italian waters must apply for permission to use the yacht for commercial purposes in Italian waters. This application does not replace the current formalities for arrival and departure(the Giornale Arrivi e Partenze). Two copies of the form (available for download on our website... More
Don’t walk the plank of foreign exchange without checking your options first. There’s no need to be tied to your bank, when Currencies Direct you can save up to 5% on your exchange As a proud member of Horizons, Currencies Direct works with yachting professionals to assist in helping them to achieve their financial goals through money saving. Our bank-beating rates, personalised one-to-one service and preferential rates for all Horizons clients are all reasons why Currencies Dire... More
Horizons will help you create financial stability throughout your yachting careerA bespoke team of professional advisers who understand the unique elements involved in the superyacht industry have teamed up to create a dedicated suite of products to help your money work just as hard as you do.The team deliver free on board consultations for captains and crew and offer a wide range of solutions under one roof. The main products are; International Bank Accounts, Currency Exchange, Financial Pla... More
