Industry » Legal & Finance

Legal & Finance

Inside Sarnia Yachts’ New Management Division

Posted: 30th Jun 2021

Written by: Rachel Ingram

“We’re going to reinvigorate Sarnia.” says Hans Bouman, head of the new yacht management division at Sarnia Yachts. Strong words from one of Sarnia’s newest recruits but his promise is already coming true as the company emerges from the Covid-19 pandemic stronger than it entered. Read More

Wire Transfer Fraud: Check Twice, Send Once

Posted: 28th Jun 2021

Written by: Nicholas J. Zeher

The peaceful pastime of carefree yachting has now become a target for hackers and fraudulent behaviour, and as yachts are getting bigger and bigger, the need for additional security measures is growing too. Read More

Introducing the Next Evolution of Sarnia Yachts

Posted: 9th Jun 2021

Written by: Rachel Ingram

For the past 50 years, Sarnia Yachts has been one of the most trusted names in yachting. Since its launch in 1971, what was originally a fiduciary only business has become the go-to company for owners, family offices and brokers across the UK and Europe seeking yacht ownership and operational services. Read More

Buying a Yacht or Jet in the UK or EU: What You Need to Know

Posted: 20th May 2021

Written by: Lorna Titley

For the uninitiated, the process of buying a yacht or jet anywhere in the world seems complicated enough. Add Brexit into the mix and it can suddenly become even more complex. However, Brexit does bring silver linings, at least for some UK yacht and jet owners. Read More

Economic Substance Requirements – Something to Worry About or Something Out of Nothing?

Posted: 30th Apr 2021

Written by: Dominic Bulfin

The term ‘economic substance’ is not a new one, but for most of those working in the superyacht industry, it's either something they have heard of in passing, or an alien concept altogether. So what is it and what does it mean? Read More

My Client is Buying a Private Jet, Now What?

Posted: 14th Apr 2021

Written by: Lorna Titley

Whether it's individuals who have achieved new levels of wealth or those looking for safety and convenience in light of the pandemic, both superyachts and private jets are attracting an array of new buyers. Read More

Repatriation of Personal Possessions

Posted: 14th Apr 2021

Written by: Captain Rod Hatch

Last month the crew on the 31m MY La Dolce Vita had to abandon their burning yacht off the Florida Keys before fire totally gutted it and the yacht sank, and they may not have managed to take many of their personal belongings with them when they abandoned the yacht. Read More

Yacht and Business Jet Finance: What Does the Future Hold?

Posted: 8th Apr 2021

Written by: Lorna Titley

The adage about luxury asset finance that says: “If you need the finance, then you're probably not eligible for it” may sound confusing, but the fact that wealthy business owners would sooner finance their jet or yacht purchase, rather than pay cash, often makes perfect sense. Read More

Crew NDAs: All You Need To Know

Posted: 28th Feb 2021

Written by: Dominic Bulfin

NDAs go by many names, but whatever you may call them, if you work on a superyacht you have probably been asked to sign one at some point in your career. If you haven’t, here is your chance to swot up before it’s your turn. Read More

The Changing Climate for Superyacht Regulation

Posted: 9th Jan 2021

Written by: Dominic Bulfin

In recent months and years, the topic of making yachting more environmentally friendly has escalated from a simmer across the industry to a bubbling hot saucepan of change, and here's what's to come. Read More

‘Crisis? What Crisis?’ The Resilience of the Superyacht Industry

Posted: 8th Jan 2021

Written by: Quentin Bargate

There are many words I could use to describe the superyacht industry and those who work within it, but if pushed for two key words to sum up the industry in 2020 I would have to choose “resilient” and “adaptable”. Read More

Superyachts and the New Sustainable Movement

Posted: 7th Jan 2021

Written by: Dominic Bulfin

Traditionally in yacht design, sustainability has not been high up on the priority list. However the world we live in is changing rapidly, and rather than claiming luxury immunity, the superyacht industry is starting to emerge at the forefront of clean technologies. Read More

Crew Employment and the COVID Curveball

Posted: 23rd Aug 2020

Written by: Dominic Bulfin

As the full impact of the COVID-19 pandemic emerges, Dominic Bulfin at law firm Bargate Murray examines the employment issues faced by yacht owners, managers and crew, and how well the seafarer employment agreement (SEA) has held up during this time. Read More

MHG's Mark Bononi on Insurance Policies for Yacht Crew

Posted: 21st May 2020

Written by: OnboardOnline

From owners or captains choosing insurance plans for their crew to individuals looking for some personal medical cover, ensuring you have adequate insurance for all those working on board a superyacht is vital. We speak to MHG Insurance to find out more. Read More

The Effects of COVID-19 on Ship & Yacht Finance

Posted: 24th Mar 2020

Written by: Grant Eldred and Sarah Allen

As the current pandemic emergency continues to develop around the globe, businesses involved in the world of ship finance, sale and purchase, and construction are beginning to feel the impact on the industry. Read More

Superyacht Documents and Certificates: An Overview

Posted: 30th Dec 2019

Written by: Claudia Casalis, Esq. and Nicholas J. Zeher, Esq.

When it comes to certificates and documents for the closing of a sale, what is needed will primarily depend on the tonnage of the vessel and whether it will be used as a commercial or recreational vessel. Read More

Do’s & Don’ts of Dual Agency Broker Representation in the US

Posted: 30th Nov 2019

Written by: Claudia Casalis & Nicholas J. Zeher

While yacht brokers often welcome a dual agency because it usually means they receive a higher commission from the sale, there are many things that a broker should know before moving forward as it's easy to run afoul of the heightened fiduciary duties. Read More

Dispute Resolution Clauses – Ignore at your Peril!

Posted: 4th Oct 2019

Written by: Sarah Allan

Law, jurisdiction and dispute resolution provisions, including expert determination clauses are often overlooked in a heated contractual negotiation. Not unsurprisingly, at the start of a commercial relationship one is not focused... Read More

Yacht Ownership - The End of Leasing Schemes?

Posted: 20th Aug 2019

Written by: Dominion

In 2018 following the Mercedes-Benz ruling, both Cyprus and Malta withdrew their popular Leasing Schemes for superyachts. Both jurisdictions introduced revised schemes and both failed scrutiny a second time. It is now evident tha... Read More

WYCC on the Market for Yacht Crew Insurance

Posted: 8th Jul 2019

Written by: OnboardOnline

Since the pandemic, a health crisis has spread across industries all over the world, including yachting. More than ever before, people have become aware that having solid health insurance cover is crucial. Mathieu Henry, Director ... Read More

Precedent-setting UK Court Case Rules Cargo Ship Unseaworthy

Posted: 6th Jun 2019

Written by: Nautilus Int.

Nautilus has raised questions about the potential impact of a precedent-setting UK court case, which found that a ship was rendered unseaworthy by a deficient passage plan. Read More

WYCC: An Approved Retirement Plan for Seafarers in France

Posted: 7th May 2019

Written by: Laurent Previdente

WYCC 'French Law' is the first retirement plan for seafarers created in accordance with the French Decree 2017-307 of 9 March 2017. The program was submitted and approved by members of the French government, ENIM and Maritime Affa... Read More

Best Countries for Yacht Crew to Invest in Property

Posted: 2nd May 2019

Written by: Simon Conn

Property prices have risen sharply in Paris and the market on the Côte d’Azur remains strong, but savvy buyers can still find deals that offer access to the coast and yachting lifestyle. As a UK and overseas property professional ... Read More

Navigating the Yacht Insurance Storm

Posted: 29th Mar 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 su... Read More

Clarity on French Social Security Obligations

Posted: 14th Mar 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 ... Read More

Q&A Chris Allix: Yacht Ownership and the Trend for Private Use

Posted: 27th Nov 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 cau... Read More

Maltese Limited Partnerships, Everything You Need to Know

Posted: 8th Nov 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 transparenc... Read More

WYCC and SGRM Offer New Solutions for Crew Insurance

Posted: 25th Sep 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 ... Read More

Alternative Solution to TAR (Temporary Admission Relief)

Posted: 27th Aug 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 superyacht... Read More

What is Meant by ‘Use and Enjoyment’ of a Yacht?

Posted: 17th Aug 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 comme... Read More

x

Search articles with keywords