Making luxury simple

For those who have successfully accumulated significant wealth, there may come a time when a decision is made to spend more time with loved ones and enjoy the finer things in life.

For some, there can be few better ways to achieve this than through ownership of a superyacht. Our team of luxury asset specialists make that dream a reality by providing effective administration for the purchase, use and sale of such high-value mobile assets.

SELECTION, ACQUISITION AND REGISTRATION

It is important to plan ahead, particularly with such a luxurious and mobile asset as a superyacht.

We can help ensure your purchase process runs smoothly by:

  • Arranging meetings with yacht brokers or builders with the aim of identifying the yacht that best suits your needs and budget.
  • Providing advice on the most appropriate structure for holding the yacht, taking into consideration your country of residence, your plans for usage of the yacht and the relevant taxes including VAT.
  • Making introductions to providers of yacht finance if required.
    Incorporating a special purpose limited liability vehicle to acquire and own the yacht.
  • Helping you to select and appoint a lawyer to protect your interest throughout the acquisition process including negotiation of the Yacht Build Contract or Agreement for Sale/Purchase.
  • Assisting with the selection of a yacht manager by approaching a number of managers within our network and requesting that they submit management proposals for your yacht.
  • For commercial yachts, asking the managers and/or brokers to provide proposals for maximising the charter potential and income from your yacht.
  • Registering your yacht directly or working with the yacht manager to ensure registration in the most appropriate flag state for your circumstances.
  • Arranging the insurance of the yacht directly or via the yacht manager and ensuring that competitive quotes are received.
  • Opening a bank account for the asset ownership company and providing debit or credit cards for the captain and other senior officers as required.
Ongoing use

Once you have acquired your yacht, you can take the time to enjoy it fully, relaxed in the knowledge of our continued support for you, the yacht officers and your crew.

We can help by:

  • Dealing with insurance renewals and insurance claims, review of management and maintenance contracts and negotiating them on your behalf.
  • Liaising with shipyards, contractors and suppliers where appropriate to ensure that refit works are carried out in a tax-efficient manner.
  • Liaising with the yacht captain and manager to ensure that certificates and licences are kept up to date and the appropriate fees paid to the flag state on time etc.
  • For commercial yachts, arranging VAT registrations and obtaining charter licences and local fiscal representation through selected partners in the relevant jurisdictions.
  • Working with our partners to ensure that accurate VAT returns are submitted on time and any queries raised by customs authorities are dealt with in a timely manner.
  • Providing ongoing accounting, VAT and tax compliance services including financial management and reporting to you as required.
  • Providing yacht crew payroll solutions through selected partners.
Sales

Our dedicated team of experts also supports the sale of yachts and liquidation of owning companies.

We can help support the disposal process by:

  • Arranging meetings with yacht brokers to secure the best value for you from the yacht disposal.
  • Assisting with the appointment of an experienced lawyer to protect your interests throughout the sale process, including the negotiation of the sale agreement.
  • De-registration of the yacht at the relevant yacht registry.
  • VAT de-registration formalities and dissolution or liquidation of the ownership company, as appropriate.

 

Eunan Timmins

SENIOR MANAGER, CLIENT SERVICES


To learn how we can enhance your business, contact Eunan:

T: +44 1624 682206
E: eunan.timmins@suntera.com

See Eunan’s profile