worldwide yachts manufacturing company

We are the details

Our signature is our yachts every zebama yacht is a work of art. Our signature is our yachts
every zebama yacht is a work of art.

yachts
yachts

It has been about five years since Zebama Yachts changed management and embarked on a path of reinvention. A successful journey in this short time led Zebama to launch the Exclusive range in 2016. Behind the big name there is a big idea, which is to build yachts that will meet the high exclusive level, but still remain affordable mass-produced yachts.

The lineup includes larger yachts, with the  Zebama 63 Exclusive being launched first , followed by the  ZEBAMA 56 Exclusive, which takes all the best from the 63 but is even more accessible to cruisers. Thus, the goal is to provide the shipyard’s customers with a large, comfortable, and luxurious yacht, but not so large that the owner has to hire a crew. Based on this philosophy, the yacht must be affordable!

Luxury Yachts - Top Tips for Effective Tax Registration

 



Where to moor for more benefits

The key is choosing the right jurisdiction to register and domicil the yacht. Tailor-made for your luxury yacht.

Malta’s reputation as an international center of maritime excellence makes it a popular choice for yacht registration. This applies both to commercial registration, in which the yacht takes on commercial charter service, and to pleasure registration, where chartering is popular.

Cyprus is another attractive jurisdiction in the EU for the registration and charter of yachts.

Alternatively, the wool jersey, near the UK, is of interest to owners of certain types of pleasure yachts, and the Isle of Man is attractive due to a range of effective tax rates.

Dixcart’s Madeira (Portugal) office registered yachts in the Azores and Madeira’s low-tax international business center. The Azores (Portugal) may be the preferred destination for importing yachts into the EU due to the low VAT rate.

Whether you are a potential buyer or an existing owner, these top tips are for you.

Registering your luxury yacht – talk to a consultant
Consultants are often required to direct clients to the most appropriate jurisdiction for the ship’s flag. Historically, consultants have favored proven jurisdictions, but in today’s competitive world, other issues such as perception of jurisdiction, international transparency, time differences, appropriate legal systems, experience, and rising costs associated with certain jurisdictions are increasing in importance.

“Best practice” for choosing an appropriate flag usually involves considering the following criteria:

Strong international economic standards – minimum “A”.
Reliable legal system.
Commercial register – emphasis on service and response.
High performance in safety, security, and environmental protection.
A jurisdiction that is whitelisted by the Paris and Tokyo Memorandum of Understanding (Paris/Tokyo MoU) and has a low-risk rating.
Jurisdiction is based on reputation, compliance, and transparency.
A jurisdiction with low registration costs, simplified bureaucratic procedures, and a suitable tax regime.
Owners choosing a flag outside their country of residence do so for one of the above reasons. Just remember that once you have chosen your vessel’s place of registration, some of that particular country’s laws may apply to your yacht, as the yacht is considered an extension of the country it is under the flag.

Understanding VAT
VAT is charged on any goods imported into the EU, and yachts are no exception. VAT is also charged on the commercial use of such yachts in EU territorial waters. Therefore, it is important to understand how VAT affects you.

As expected, EU member states have different VAT rates and also have their own interpretation of some EU VAT directives. There may also be local practices that differ from those in other countries, so it is important to speak with a professional advisor to clarify the laws and procedures that may apply to you. After payment of VAT, the yacht can move freely within the EU.

On the other hand, any private yachts owned by non-EU residents registered under a non-EU flag may be eligible to enter EU waters for up to 18 months without VAT on a temporary import basis. If this applies to you,

Ownership structures

Legal entities can register yachts and this is the option chosen by most yacht owners. Most yacht owners will choose an LLC to reduce their personal liability associated with the yacht, but there are alternatives.

But why? What are the benefits? One of the most common reasons is limited liability. By registering a yacht with a limited liability company, the owner can reduce his personal liability and protect his personal assets.

In addition, if the decision is made to sell the yacht by holding it under a legal entity, the transfer of shares from the holding company to the buyer becomes much easier, especially if the buyer wishes to retain the existing structure, crew, flag, and customization. Instead of selling the yacht, the owner may sell the company itself, which may be exempt from sales tax, depending on the circumstances.

Conclusion

When a shipowner decides to register his yacht or ship, it is important to consider the appropriate ownership structure. This can have serious implications in terms of ship management and possible tax implications.

Structured ownership can provide different opportunities in terms of yacht acquisition and subsequent operation. The problem is getting it right.


Dixcart Air Marine can assist clients with yacht registration in a number of jurisdictions, provide a full range of services in terms of establishing and managing a legal entity, ongoing maintenance of the yacht registration itself, and additional concierge services, from assistance with crewing, including crew contracts and payroll fees.

For more information, please contact advice@dixcart.com or your usual Dixcart contact.

Dixcart Trust Corporation Limited, Guernsey: Full fiduciary license issued by the Guernsey Financial Services Commission. Company registration number in Guernsey: 6512.

Dixcart Management (IOM) Limited is licensed by the Isle of Man Financial Services Authority.