The Isle of Man Yacht Engaged in Trade (YET) Scheme

By Eunan Timmins, Senior Manager, Corporate Services

The Isle of Man Ship Registry’s Yacht Engaged in Trade (YET) scheme is transforming the way superyacht owners approach flexibility and compliance. Designed for private yachts 24 meters or larger, the YET scheme allows owners to charter their vessels in designated EU waters for up to 84 days per year, without undergoing full commercial conversion.

This innovative “dual-use” option bridges the gap between private and commercial use, allowing owners to generate income while offsetting operational costs.

WHY CHOOSE THE ISLE OF MAN?

The Isle of Man is widely recognised as a premier jurisdiction for yacht registration, thanks to its high regulatory standards, competitive fees and strong international reputation.

With the introduction of the Yacht Engaged in Trade (YET) scheme, the Isle of Man Ship Registry has strengthened its position as a forward-thinking authority that understands the evolving needs of yacht owners and their advisors.

THE KEY BENEFIT

The YET scheme gives owners the opportunity to generate charter income for up to 84 days per year, to offset yacht running costs such as maintenance and other operational expenses, without the need for a full commercial conversion.

IS YET RIGHT FOR YOU?

If you own a 24m + pleasure yacht built to comply with the Large Yacht Code and want the flexibility to charter occasionally in designated EU waters, the Isle of Man’s YET scheme could be the perfect solution. It combines regulatory compliance with operational freedom.

HOW SUNTERA CAN SUPPORT

At Suntera, we provide end-to-end support for yacht owners and advisors looking to take advantage of the Isle of Man’s YET scheme. Our services include:

• Yacht Registration: Managing the full registration process with the Isle of Man Ship Registry.
• Ownership Structuring: Delivering tailored corporate structuring solutions to meet compliance and operational needs.

If you’d like to learn more, get in touch with us via the form below or contact Eunan directly here.

Eunan Timmins

SENIORMANAGE, CORPORATE SERVICES
ISLE OF MAN 

Eunan has worked in the Corporate Services Industry for 20+ years dealing with multi-jurisdictional private and intermediary clients. Eunan is responsible for managing a number of Yacht and Aircraft structures within the business.

Read Eunan's Bio >