Jurisdictions

ALWAYS COMPLIANT IN EVERY DETAIL

This Rental Solution is an ownership solution for owners who wish to defer payment of VAT on the purchase of their superyacht.

Owners that utilize this structure are compliant with their obligations to the Government of the particular country that endorses this scheme, as VAT is paid to them during the life of the structure. The super-yacht will be in free circulation throughout the EU. The Tax Authorities have confirmed that all yachts under the VAT deferment plan will now be able to engage in “occasional charter”, representing a reversal in their previously held position.

“This seems to follow a relaxation in general which allows VAT-paid yachts to charter as well as those on commercial registration. It must be remembered, however, that super-yachts under the VAT deferment plan are not VAT-paid, merely VAT deferred, but on the other hand, all the vessels are fully imported and in free circulation.”

Due to these points of difference, there have been some light restrictions imposed. A charter is not intended to be the main purpose, the vessels may ‘only’ charter for up to 84 days a year. A fiscal representative must also be appointed to collect the VAT due on the charter and there may be no reclamation of VAT on supplies.

This is an important distinction as it allows charter to both EU residents and non-EU residents alike.