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Legal & Finance

Yacht Engaged in Trade (YET) - Compliance Explained

Posted: 4th Nov 2015

Written by: Mark Robinson

Yacht Engaged in Trade or YET, the new initiative by the Republic of the Marshall Islands Registry, was the hot topic of the moment when launched at Monaco Yacht Show 2015. The initiative certainly raised some eyebrows while also ... Read More

Myth Busters: UK/ Spanish Tax Treaty

Posted: 15th Oct 2015

Written by: Patrick Maflin

The Seafarers Earnings Deduction (SED) is arguably the taxation scheme of choice for most Seafarers nowadays working on foreign going yachts. It is open to all EU member states whose citizens qualify as resident in the UK under th... Read More

What to do with End of Season Tips?

Posted: 13th Oct 2015

Written by: Horizons Financial Services

Many yacht crew are lucky enough to end the season with some healthy tips… in cash! Is there anything that can be done with these to prevent you having to walk around with a bundle of notes or stowing it under your mattress? Read More

PYET: Solution for Dual Use of a Yacht in the Med

Posted: 12th Oct 2015

Written by: Janet Xanthopoulos

After nearly two years of hard work along with the Republic of the Marshall Islands (RMI) Registry, WES, the French Customs and the Port State Control Authorities, Rosemont Yacht Services announces a new solution to help owners ov... Read More

The Superyacht Industry is Changing

Posted: 2nd Sep 2015

Written by: Jenny Oliver/Dominon Marine

The pressure is mounting in the European Union for all member states to reduce their budget deficits. The northern European countries are becoming increasingly intolerant of fiscal indiscipline in the south, and are pushing a very... Read More

Myth Buster: UK Residency Laws

Posted: 31st Aug 2015

Written by: Patrick Mafin

Residency lies at the the heart of any tax debate and the difference between being resident or non-resident in the UK can often result in an individual paying tax or not. In recent weeks we have been receiving a growing number of ... Read More

Paris Memoranda of Understanding (MoU) on Port State Control

Posted: 29th Jul 2015

Written by: PYA

The PYA would like to inform you that the Maritime Authorities of the Tokyo and the Paris Memoranda of Understanding (MoU) on Port State Control will launch a joint Concentrated Inspection Campaign (CIC) on Crew Familiarization fo... Read More

Foreign Crew in the US: Visa Dos and Don'ts

Posted: 18th Jun 2015

Written by: Northrop & Johnson

Recently, there has been a flurry of complications surrounding yacht crew and B1/B2 visas. In an effort to obtain a better understanding of the underlying issues, Northrop & Johnson Crew Services Manager Duncan Bray not only sat d... Read More

Requirements for Non EU Flagged Yachts in EU Waters

Posted: 18th Jun 2015

Written by: PYA

The requirements concerning all non-EU flagged vessels and all vessels with non-EU crew on board are currently in particular focus by the Mallorcan Police Border Office. Read More

Myth Busters: Tax Exemptions for US Seafarers

Posted: 16th Jun 2015

Written by: Patrick Mafin

The United States has one of the most progressive tax systems in the industrialised world. Taxes are imposed on net income of individuals and corporations by the federal, most states, and some local governments. Read More

French VAT Changes - for the Long-Term Good

Posted: 10th Jun 2015

Written by: Penny Hammond-Smith

Understanding the implications of the BOFIP 12.05.15 for commercial yachts. The Bulletin of May 12, 2015 which integrates the existing French Commercial Exemption (FCE) has already generated a lot of chatter and some concern. Read More

Tax,Yacht Ownership and Registration: What to expect?

Posted: 2nd Jun 2015

Written by: Rosemont Yacht Services

Since the ECJ ruling “Bacino Charter Company” it has become increasingly difficult for owners of commercially registered yachts to continue to operate their yacht on a real commercial basis. This arises from the unprecedented numb... Read More

Bonanza Time for Flag and Port State Control

Posted: 2nd Jun 2015

Written by: PYA

Coming soon to a yacht near you - bonanza time for Flag and Port State Control. As a courtesy to allow ship owners more time to become compliant, most Port State Control (PCS) authorities have been requested to postpone enforcemen... Read More

Human Rights at Sea

Posted: 19th May 2015

Written by: Darren Winter

The first guest blog from David Hammond, CEO & Founder of Human Rights At Sea. Human rights at Sea (HRAS) continues to work directly with organizations in SE Asia in the ongoing matters of migrants abandoned at sea by traffickers. Read More

Hours of Rest: Where does the buck stop?

Posted: 7th May 2015

Written by: Rod Hatch

“An Inspector Calls” was a popular morality play written by the English playwright J.B. Priestley at the end of WW II. As Priestley himself remarked about the characters in his play, “They are losing all pride and interest in the ... Read More

Myth Busters: Offshore Banking and the Offshore Disclosures Facility

Posted: 17th Apr 2015

Written by: Patrick Maflin

This month I had the opportunity to sit down with Amanda Taylor from Marine Accounts for a Q&A session on the Offshore Disclosures Facility. Read More

Myth Busters: The Truth Behind Filing Under the SED

Posted: 19th Mar 2015

Written by: Patrick Mafin

In recent weeks tax with an emphasis on the Seafarers Earnings Deduction has been a hot topic of debate on social media and yachting forums. The aim of this article is to try and de-bunk some of the myths that are becoming common ... Read More

Financial Success From Yachting: 10 Basic Rules

Posted: 5th Jan 2015

Written by: Peter Brooke

I am often asked by junior and senior crew alike what would be my top 10 financial tips for anyone beginning a career in the yachting industry. Read More

Effective Ways To Get Out Of Debt

Posted: 1st Nov 2013

Written by: Debt Legal

Sir Mervyn King, the Bank of England's outgoing governor, says he believes low interest rates should remain in place to assist those UK citizens who are deeply in debt. Smart Financial Planning's Steve Martin offers this advice f... Read More

Credit card management can lower debts further

Posted: 1st Nov 2013

Written by: Debt Legal

As flexible as credit cards are, unlike cash, you could end up paying extra money just to use them and these charges are unwelcome at the best of times, especially when you are trying to budget and lower your expenditure. Here ar... Read More

The Conflict between Marine Insurance Policies and Shipyard Contracts

Posted: 19th Oct 2013

Written by: Danielle J. Butler

Reading a yacht insurance policy is often like reading a novel in Greek but, it' vital to understand your policy to protect yourself from breaching it or being denied coverage. Read More

Döhle Yachts - Revised Guide to MLC

Posted: 9th Oct 2013

Written by: Döhle Yachts

Döhle Yachts' updated guide to the MLC, is rated “The first digestible guide to the MLC which will help the initiated and uninitiated alike through the major impacts of the MLC.” Read More

Some Thoughts on the new Seafarer’s Employment Agreement

Posted: 25th Sep 2013

Written by: Jörg Wendt

What's really new about the MLC? Are the new contracts always favourable for yacht crew? What should you look out for in your SEA's? Jörg Wendt from D and B Services tells you some things to watch out for in the new regulations... Read More

Boat Care, Custody and Control under Florida Statutes

Posted: 19th Aug 2013

Written by: Danielle J. Butler

How does a boat dealer or Florida licensed yacht broker import a boat into Florida for sale? If a boat is brought into Florida for the sole purpose of sale by a boat dealer or Florida licensed yacht broker, it will be exempt from ... Read More

MSN 1848 - MLC 2006 Survey and Certification of UK Ships

Posted: 15th Aug 2013

Written by: MCA

MLC 2006 comes into force next week - 20 August! Everything you need to know about Survey and Certification of UK ships is summarized in MSN 1848 (M). Read More

Maritime Labour Convention 2006

Posted: 25th Jun 2013

Written by: Mike Sanderson

The deadline for implementation of the MLC 2006 is 20 August 2013, which is fast approaching. All commercially operated yachts need to comply and yachts over 500GT will require an MLC certificate. Non compliance could lead to dete... Read More

Tale of Two VATs: French exemption and what it means for you

Posted: 22nd May 2013

Written by: Grant Atchison

The French Commercial Exemption (“FCE”) was first introduced into national law in 2004 as a clever piece of legislation, unique to France, designed to allow VAT exemption to the commercial activities undertaken by yachts operating... Read More

MCA on Port State Control

Posted: 22nd Apr 2013

Written by: Mike Sanderson

I am writing to you about recent changes which have taken place relating to Port State Control inspections (PSC) inspections in Europe, and to which your yacht may be subject. We recognise that this is causing some concern amongst... Read More

Good Faith Deposits

Posted: 17th Apr 2013

Written by: Danielle J. Butler Esq.

With most failed yachting transactions, the biggest reason for litigation is determining who breached the agreement and what happens to the money that’s already changed hands – otherwise known as the “good faith deposit.” The good... Read More

MLC 2006

Posted: 2nd Mar 2013

Written by: Mike Sanderson

MLC 2006

The Maritime Labour Convention (MLC) becomes mandatory on 20 August 2013.
Read More

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