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