Industry » Legal & Finance
Legal & Finance
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
industry. It is adopting similar approaches to technical and crew management, and mainstream human resource management processes are beco... Read More
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
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
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
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
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
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 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
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