Posted: 29th March 2019 | Written by: Sarah Allan
When it comes to buying, converting or building a superyacht, insurance can sit a long way down the priority list but a certain level of insurance is mandatory, and can be a godsend if something does go wrong. But recent events such as hurricanes Maria and Irma have resulted in a well reported reduction of insurance capacity across the yacht sector. Sarah Allan, maritime lawyer and yacht master, discusses the impact of the 'hardening market'.
Posted: 14th March 2019 | Written by: John Cook
Now that the furore surrounding the implementation of the French Decree on social security for seafarers who are resident in France and working on a foreign flagged vessel has died down, John Cook surveys the options available to superyacht crew.
Posted: 27th November 2018 | Written by: Don Hoyt Gorman
Setting up superyacht ownership structures requires expert knowledge amidst a legal and fiscal landscape that is constantly evolving. However, if there’s one person always in the know it’s Chris Allix of Dominion Marine, so we caught up with him in Monaco to get his views on recent developments and the growing trend towards private use.
Posted: 8th November 2018 | Written by: Bruce Maltwood
Sarnia Yachts give us an insight into the world of Malta Limited Partnerships. Also known as a partnership ‘en commandite’ (or Malta LP), they provide a practical and secure method of yacht ownership. 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.