Posted: 18th October 2018 | Written by: Darryl Sharman
Maltese Limited Partnerships (Malta LPS), also known as a partnership ‘en commandite’, are providing a practical and secure method of yacht ownership, offering the same limited liability advantages as a limited liability company. However, they also provide transparency and so protection from benefit in kind taxes, which may otherwise be due in many European countries if the traditional limited liability company is used.
Posted: 25th September 2018 | Written by: Don Hoyt Gorman
Superyacht crew insurance has barely changed in a decade, despite critical shifts in social policy. Updated solutions are needed. Based in Florida, the international insurance brokers SGRM, have partnered with WYCC Luxembourg, to develop industry leading global health insurance with US coverage. They are also able to offer the only private plan that works directly with French social security’s new requirements.
Posted: 27th August 2018 | Written by: Chris Allix
The Mediterranean summer season is in full swing with clients deciding whether or not and how to sail in Europe. As the superyacht industry is aware, European Customs are getting stricter with regard to the operation of superyachts, with two principal methods of clearing Customs. Chris Allix of Dominion Marine explains.
Posted: 17th August 2018 | Written by: Chris Allix, Dominion Marine
Whenever we read about VAT in the superyacht industry we see the phrase ‘use and enjoyment’, but what exactly does that mean? The rules and rates vary between EU member states but they are determined by the state where usage commences. Chris Allix of Dominion Marine explains how these are applied.
Posted: 2nd August 2018 | Written by: OnboardOnline
Last year, Dominion Marine took the opportunity to rebrand its entire business and launched their new ‘DM84’ image and website reflecting the pedigree of a company built on over 30 years of success in the superyacht industry.
Posted: 9th July 2018 | Written by: Johanna O'Brien
The UK has some of the tightest financial regulations in the world, but the offshore environment still lacks the same level of client protection. Many superyacht crew have fallen prey to bad financial advice, so Johanna O'Brien of Beacon Global Wealth Management highlights five important points to consider when choosing a financial adviser.
Posted: 14th May 2018 | Written by: Simon Dixon
Life insurance. One of the dullest topics on Earth UNTIL it becomes urgently necessary. That’s when you wish you had paid a lot more attention to it. Taking the time to get it properly organised, especially in a profession entailing a certain amount of risk on the high seas, is not only wise, it’s essential.
Posted: 27th March 2018 | Written by: Chris Allix
It is well known within the yachting industry that the EU Commission has issued a notice to Malta and Cyprus that they intend to commence infraction proceedings against them in relation to their leasing schemes. We understand that Malta will defend the scheme with a robust defence, so what is the basis of the EU's attack?
Posted: 26th February 2018 | Written by: Steven Marquis, Senior Relationship Manager
One of the themes discussed at the recent Superyacht Investor Conference was yacht management and its role for both the owner and the captain. Sarnia’s Steven Marquis summarises why effective yacht management brings value for money and peace of mind to owners and their wealth management team who don’t always have the specialist knowledge required to meet industry expectations and regulations themselves.
Posted: 19th February 2018 | Written by: Marcus Sinkinson
Have you ever heard of anyone outside of the yachting industry able to save more than 80% of their salary? It’s practically impossible unless you’ve managed to somehow wangle free accommodation and live like a hermit. But for crew, the yachting industry represents an extraordinary financial opportunity that should not be taken lightly.