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Legal & Finance
It seems in yachting that a true measure of one’s success is not whether you have made the rank of Captain or worked as Chief Engineer, but rather the number of houses you own. Depending on your chosen area and the term of your i...
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As the world of yachting has developed it has become an integral part of the wider maritime
industry. It is adopting similar approaches to technical and crew management, and mainstream human resource management processes are beco... Read More
industry. It is adopting similar approaches to technical and crew management, and mainstream human resource management processes are beco... Read More
When I first joined the industry as a deckhand I had been advised rightly or wrongly at the time to get a captains letter and open an offshore account. I noticed that all of my other crew members were doing this and so I simply ...
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Following the 2013 ECJ ruling against France and the French Exemption for commercial yachts, the French Authorities have produced new regulations BOFIP 1205-15. These regulations set out the exact requirements for a charter yacht ...
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Yacht Engaged in Trade or YET, the new initiative by the Republic of the Marshall Islands Registry, was the hot topic of the moment when launched at Monaco Yacht Show 2015. The initiative certainly raised some eyebrows while also ...
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The Seafarers Earnings Deduction (SED) is arguably the taxation scheme of choice for most Seafarers nowadays working on foreign going yachts. It is open to all EU member states whose citizens qualify as resident in the UK under th...
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Many yacht crew are lucky enough to end the season with some healthy tips… in cash! Is there anything that can be done with these to prevent you having to walk around with a bundle of notes or stowing it under your mattress?
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After nearly two years of hard work along with the Republic of the Marshall Islands (RMI) Registry, WES, the French Customs and the Port State Control Authorities, Rosemont Yacht Services announces a new solution to help owners ov...
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The pressure is mounting in the European Union for all member states to reduce their budget deficits. The northern European countries are becoming increasingly intolerant of fiscal indiscipline in the south, and are pushing a very...
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Residency lies at the the heart of any tax debate and the difference between being resident or non-resident in the UK can often result in an individual paying tax or not. In recent weeks we have been receiving a growing number of ...
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The PYA would like to inform you that the Maritime Authorities of the Tokyo and the Paris Memoranda of Understanding (MoU) on Port State Control will launch a joint Concentrated Inspection Campaign (CIC) on Crew Familiarization fo...
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Recently, there has been a flurry of complications surrounding yacht crew and B1/B2 visas. In an effort to obtain a better understanding of the underlying issues, Northrop & Johnson Crew Services Manager Duncan Bray not only sat d...
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The requirements concerning all non-EU flagged vessels and all vessels with non-EU crew on board are currently in particular focus by the Mallorcan Police Border Office.
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The United States has one of the most progressive tax systems in the industrialised world. Taxes are imposed on net income of individuals and corporations by the federal, most states, and some local governments.
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Understanding the implications of the BOFIP 12.05.15 for commercial yachts. The Bulletin of May 12, 2015 which integrates the existing French Commercial Exemption (FCE) has already generated a lot of chatter and some concern.
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Since the ECJ ruling “Bacino Charter Company” it has become increasingly difficult for owners of commercially registered yachts to continue to operate their yacht on a real commercial basis. This arises from the unprecedented numb...
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Coming soon to a yacht near you - bonanza time for Flag and Port State Control. As a courtesy to allow ship owners more time to become compliant, most Port State Control (PCS) authorities have been requested to postpone enforcemen...
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The first guest blog from David Hammond, CEO & Founder of Human Rights At Sea. Human rights at Sea (HRAS) continues to work directly with organizations in SE Asia in the ongoing matters of migrants abandoned at sea by traffickers.
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“An Inspector Calls” was a popular morality play written by the English playwright J.B. Priestley at the end of WW II. As Priestley himself remarked about the characters in his play, “They are losing all pride and interest in the ...
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This month I had the opportunity to sit down with Amanda Taylor from Marine Accounts for a Q&A session on the Offshore Disclosures Facility.
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In recent weeks tax with an emphasis on the Seafarers Earnings Deduction has been a hot topic of debate on social media and yachting forums. The aim of this article is to try and de-bunk some of the myths that are becoming common ...
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I am often asked by junior and senior crew alike what would be my top 10 financial tips for anyone beginning a career in the yachting industry.
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Sir Mervyn King, the Bank of England's outgoing governor, says he believes low interest rates should remain in place to assist those UK citizens who are deeply in debt. Smart Financial Planning's Steve Martin offers this advice f...
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As flexible as credit cards are, unlike cash, you could end up paying extra money just to use them and these charges are unwelcome at the best of times, especially when you are trying to budget and lower your expenditure. Here ar...
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Reading a yacht insurance policy is often like reading a novel in Greek but, it' vital to understand your policy to protect yourself from breaching it or being denied coverage.
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Döhle Yachts' updated guide to the MLC, is rated “The first digestible guide to the MLC which will help the initiated and uninitiated alike through the major impacts of the MLC.”
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What's really new about the MLC? Are the new contracts always favourable for yacht crew? What should you look out for in your SEA's? Jörg Wendt from D and B Services tells you some things to watch out for in the new regulations...
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How does a boat dealer or Florida licensed yacht broker import a boat into Florida for sale? If a boat is brought into Florida for the sole purpose of sale by a boat dealer or Florida licensed yacht broker, it will be exempt from ...
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MLC 2006 comes into force next week - 20 August! Everything you need to know about Survey and Certification of UK ships is summarized in MSN 1848 (M).
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The deadline for implementation of the MLC 2006 is 20 August 2013, which is fast approaching. All commercially operated yachts need to comply and yachts over 500GT will require an MLC certificate. Non compliance could lead to dete...
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