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Legal & Finance
France has now brought its social security laws in line with the mandatory requirements of MLC 2006 with Decree no 2017-307 which comes into force on 1 July 2017. Together
with a major law firm, Lesia Group has studied the Decree... Read More
with a major law firm, Lesia Group has studied the Decree... Read More
Many of you will have come across Facebook posts concerning crew who have received bad financial advice. Sadly, in all too many cases, they have lost some or all of the funds they invested. When you consider the time and hard work...
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Dayworkers are always a contentious point with regards to insurance. All too often, no employment contracts are signed and in the event of a claim, the process becomes complicated in trying to prove whether the owner is liable for...
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The New Zealand Inland Revenue Department is trying to remove any grey areas from their residency laws to produce a working model that is clear and easy to understand. However, to comply with the 183 and 325 day rules there are so...
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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...
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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 ...
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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, ...
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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...
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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
with new banking transparency and reporting regulations ... Read More
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...
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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...
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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...
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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...
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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).
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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 ...
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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...
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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...
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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...
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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.
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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...
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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...
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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...
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