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Legal & Finance

Tax Residency: How to Complete the CRS/ FATCA Form from your Bank

Posted: 16th Dec 2016

Written by: Patrick Maflin

If you are working on a yacht and banking offshore, the likelihood is that you have received, or will receive, a letter entitled CRS/ FATCA concerning your tax residency. It's important that you respond to avoid risk of your accou... Read More

The Tax Conundrum for Yacht Crew

Posted: 19th Nov 2016

Written by: Patrick Maflin

When it comes to understanding tax liabilities, many yacht crew still believe that they don't need to declare their income. Even if you bank offshore, are non-resident, are not resident anywhere, spend less than 183 days anywhere ... Read More

Charter Yachts and Withholding Tax

Posted: 19th Nov 2016

Written by: Bruce Maltwood

Withholding tax of up to 33% is being applied to charters in some EU countries and yacht owners may need to consider restructuring arrangements to avoid being caught out. Yacht ownership established in territories such as Cayman, ... Read More

Why Malta is a Preferred Jurisdiction for Yacht Ownership Structures

Posted: 4th Nov 2016

Written by: Bruce Maltwood

Choosing a yacht ownership structure has never been a simple matter but, with recent changes in legislation, a minefield of tax laws and fierce competition, along comes Brexit to really shake things up. According to Bruce Maltwood... Read More

Tax Breaks on Crew Training?

Posted: 7th Oct 2016

Written by: Jodie Clarke

Yachting has always been viewed as a grey area when it comes to taxation and most crew have only declared their income if their native land recognizes them as exempt. Sadly
with new banking transparency and reporting regulations ...
Read More

Yacht Crew Contracts

Posted: 14th Aug 2016

Written by: Patrick Maflin

The phone rings and it's your soon-to-be new captain telling you that you got the job! In most cases, your employment contract is the last thing on your mind when you accept. However, whether you will work on an MLC compliant vess... Read More

MCA Clarification: SEAs and Crew Agreements

Posted: 13th Aug 2016

Written by: OnboardOnline

Having heard some of the stories on social media of late, there is still some confusion around the requirements for yacht crew employment contracts. Clarification can be found in the MCA's Guidance Note, MGN 474 (M), which outline... Read More

Yacht Crew Agents: The French Register

Posted: 11th Aug 2016

Written by: OnboardOnline

Since the implementation of MLC 2006 there has been uncertainty among yacht crew agents operating in France, specifically in regard to Regulation 1.4 Recruitment and Placement. The PYA MLC work group sought clarification and has i... Read More

Positive News for Superyacht Charters in Spain

Posted: 29th Jul 2016

Written by: OnboardOnline

The sun is shining on the Balearics in the form of new legislation set to simplify and streamline procedures for superyachts wishing to charter in these Spanish waters. After the partial lifting of the Spanish Matriculation Tax i... Read More

Clamp Down on Safety for PWCs in France

Posted: 25th Jul 2016

Written by: OnboardOnline

Reports have been circulating about a number of yachts in French waters having been stopped by the Gendarmerie Maritime for not having lights fitted to the buoyancy aids used by guests operating personal watercraft (PWCs). Read More

Financial Benefits of Residency for Yacht Crew

Posted: 22nd Jul 2016

Written by: Patrick Maflin

Whether you are career crew or just passing through, it's important to make informed financial decisions early on in your career as this will affect your financial options later on, particularly when it comes to investments and bu... Read More

Local Agent Mandatory for Vessels Over 45m in Croatian Waters

Posted: 14th Jul 2016

Written by: OnboardOnline

The Croatian government has announced a new regulation requiring superyachts above 45m cruising in Croatian territorial waters to appoint a local agent. This is an extension of EU Directive 2002/59/EC, which used to apply only to... Read More

BREXIT: UK Mortgage Opportunities for Yacht Crew

Posted: 8th Jul 2016

Written by: Patrick Maflin

With uncertainty comes opportunity, and yacht crew will already be reaping the benefits of a weaker Pound if they are paid in Euros or Dollars. For anyone wanting to enter the property market there is also further good news as the... Read More

Positive Result On Declaration of Cabotage in France

Posted: 25th Jun 2016

Written by: Pat Sakellari

MYBA, the Worldwide Yachting Association is pleased to announce that the French authorities have agreed to remove a large portion of the yachting sector from its Décret Etat d’Accueil legislation. With immediate effect, commercia... Read More

Britain is Out, What Now?

Posted: 24th Jun 2016

Written by: Patrick Maflin

When the world woke this morning social media and the news outlets were ablaze with the news 'Britain has voted for Brexit'. The UK is in a state of shock and despite the many polls during the referendum, nobody could have predict... Read More

Brexit: The Case to Remain

Posted: 31st May 2016

Written by: Kevin Tullett

Voting ‘yes’ or ‘no’ means people will be forced to take a ‘side’ - its easier than sitting on the fence. As Brits, we enjoy a healthy debate but the media is hardly inundating us with facts, so each vote cast on 23rd June will a... Read More

Brexit: Sailing into the Unknown?

Posted: 28th May 2016

Written by: Patrick Maflin, Marine Accounts

Ever since the referendum was announced, politicians and finance experts have been confusing the general public with crystal ball statistics. So, let’s look at the nuts and bolts and how Brexit would affect you personally as a Bri... Read More

Tax Compliance in Light of Panama Papers Leak

Posted: 22nd May 2016

Written by: Patrick Maflin

The Panama Papers leak revealed details of more than 200,000 offshore entities, the main focus being on senior politicians and public figures. However, the knock on effect for those of us without billions to hide in offshore accou... Read More

Currency Exchange for Superyachts & Yacht Crew

Posted: 20th May 2016

Written by: Kevin Tullett, Infinity International

Infinity International provides unbeatable currency exchange rates for superyacht owners, yacht management and yacht crew, with effective strategies for protecting your interests at home and abroad. We are FCA regulated, offering ... Read More

9 Steps Mortgage Guide for Yacht Crew

Posted: 22nd Apr 2016

Written by: Patrick Maflin

Buying your first home or buy to let is an event that will stay with you for life, mainly for all the right reasons! However it can be a daunting experience nonetheless as there are lots of parts to the process that as a first tim... Read More

French Commercial Exemption: Has the veil been lifted?

Posted: 9th Mar 2016

Written by: Janet Xanthopoulos

There has been a lot of confusion since June 2015 about the new French Commercial Exemption conditions and enactment of the new French regulations governing VAT exemption. If the new conditions are more precise, there are still ma... Read More

US Seafarers: The Intelligent way to Declare Income

Posted: 26th Feb 2016

Written by: Patrick Maflin

If you asked a cross section of yacht crew what it was about the job that keeps them coming back I’m sure most would say that it’s the travel and lifestyle but, there are those like myself who may be a little more candid in acknow... Read More

When are Seafarers 'ordinarily working in the UK'?

Posted: 12th Feb 2016

Written by: Heidi Watson & Mark Howard

The Administrative Court has recently had to grapple with the issue of whether seafarers, who work on vessels which spend all or most of their time outside the UK, qualify for automatic enrolment into a UK-based pension scheme. Read More

Seafarers Earnings Deduction: HMRC’s Best Kept Secret

Posted: 8th Feb 2016

Written by: Patrick Maflin

The Seafarers Earnings Deduction (SED) as it has become known is a unique piece of tax legislation that allows seafarers to claim a 100% tax exemption on their foreign earnings. It stands as testimony to a bittersweet battle fough... Read More

Mortgages: Alan Bond & Credit Ratings

Posted: 2nd Feb 2016

Written by: Patrick Maflin

The rise of Alan Bond has always been a fascination of mine. How did this sign writer end up bank rolling an America’s Cup team and owning Channel Nine? While numerous rumours abound, and the nature of the man was complex, one thi... Read More

Dominion Marine - The Monaco Solution

Posted: 27th Jan 2016

Written by: Karen Hockney

The superyacht sector generates thousands of jobs and billions of euros for France and Monaco each year. A high percentage of the world’s superyachts pass through both jurisdictions every summer, or berth in one of the many pleasu... Read More

A Rough Guide to Buying Your First Rental Property

Posted: 22nd Dec 2015

Written by: Patrick Maflin

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... Read More

Advice on SEAs for Large Yachts

Posted: 3rd Dec 2015

Written by: Nautilus International

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

Filing as a Seafarer in the UK: My Story

Posted: 18th Nov 2015

Written by: Patrick Maflin

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 ... Read More

VAT Changes to French Commercial Exemption

Posted: 16th Nov 2015

Written by: Dominion Marine

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 ... Read More

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