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Legal & Finance

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: 25th Oct 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 height... 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

Superyacht crew insurance has remained fairly static for years but recent changes in regulations in both Europe and the US have promoted a raft of new insurance plans with more flexible and more comprehensive cover. We spoke to M... 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

Dominion Marine: Shaping the Future of Yacht Ownership

Posted: 2nd Aug 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. Read More

How do Crew Access Good Financial Advice?

Posted: 9th Jul 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... Read More

Ask the Expert: Life Insurance

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 entaili... Read More

The Alternative to Leasing

Posted: 27th Mar 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... Read More

Yacht Management in 2018 – How Sarnia Can Help

Posted: 26th Feb 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 mone... Read More

The Financial Opportunity of the Superyacht Industry

Posted: 19th Feb 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... Read More

Key Points on Amendments to French Social Security Decree

Posted: 14th Nov 2017

Written by: John Cook

It would seem there are already a number of people that believe the proposed amendments to the French Social Security Decree will solve the issues that have been concerning the yacht sector since the Decree was first announced in ... Read More

Tax Changes for Buy to Let Investments Explained

Posted: 3rd Nov 2017

Written by: Patrick Maflin

Despite the recent changes to stamp duty and mortgage tax relief, making some investors question the reliability of Buy to Let Investments as an asset, they will always remain a staple when it comes to investments in the UK. Read More

If You Haven't Yet Declared Your Earnings...

Posted: 20th Oct 2017

Written by: Patrick Maflin

As of the 1st of September 2017 in the UK, HMRC started receiving details of bank accounts, trusts and holdings as a result of the Common Reporting Standard. So if you've just finished a busy çharter season and you haven't yet dec... Read More

Clarification on French Social Security from Sarnia

Posted: 4th Oct 2017

Written by: Dan Armsden

The French social security decree (No 2017-307 of 9 March 2017) has been a hot topic for much of 2017. The implementation has not been smooth, creating confusion, uncertainty, alienating French and non-EU crew and resulting in a s... Read More

Full Cover Without a King's Ransom

Posted: 27th Aug 2017

Written by: Simon Dixon

Back in the day of Henry VIII, life aboard a naval warship was akin to being in prison with the added danger of being cannonballed, drowned or killed by primitive medical care. Thankfully conditions have improved and these days yo... Read More

What are the Rules for EU Yacht Importation?

Posted: 23rd Aug 2017

Written by: Bruce Maltwood

For a yacht to be in free circulation within the EU it has to have been supplied in the EU, imported into the EU or grandfathered in by way of VAT exemption on age. If your yacht was supplied in the EU as a domestic supply with VA... Read More

Make Your Money Work While You Sleep

Posted: 20th Aug 2017

Written by: Patrick Maflin

It's Groundhog Day... you save and you spend. You save and you spend. The cycle never stops. You're a hamster on a treadmill - spinning away, yet standing still. Don't get me wrong, yachting is a lot of fun, and there are far wors... Read More

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