Legal & VAT Yacht Issues

Jamaica introduces single annual yacht fee

Jamaica will be replacing its multiple yacht fees with a single annual fee, in order to boost the local nautical tourism and encourage yacht registration in Jamaica.

Recent recreational anchoring ban in new Prohibited Areas amended

Friday, December 14, saw Maritime Safety Director, Mr Peter Corcoran, amend the recent recreational vessel anchoring ban.

New strategy for the Adriatic and Ionian Seas presented by the European Commission

December 6 in Zagreb saw Croatia and the European Commission launch the new maritime strategy for the Adriatic and Ionian Seas, based on 4 pillars: a stronger blue economy, a healthier marine environment, a safer maritime space, as well as responsible fishing activities.

Severe Penalties for Recreational Vessel Operators for Anchoring in new Prohibited Areas

According to the Marine Safety Act 2010 new definition of waters, recreational vessel operators risk heavy penalties for anchoring in newly prohibited areas. The Boating Industry Association of Victoria Incorporated (BIAV) asks the Victorian Coalition Government for the public clarification of the situation.

Assembly Bill 2005 encouraging California Superyacht Tourism signed

Before entering California ports, non-commercial vessels greater than 300 tons have to face difficult and costly reporting requirements, as required by current law. The recently signed Assembly Bill 2005 keeps this requirement but permits vessels an expanded time frame for compliance.

The 4th ICOMIA Global Environmental Legislation Guide

The latest environmental legislation available as of August 2012 can be found in the 4th edition of Global Environmental Legislation Guide, recently published by ICOMIA, the International Council of Marine Industry Associations.

Inserve Yachts receives safety management system approval

Inserve Yachts has received the approval for its safety and management system, following its review by Cayman Island Shipping Registry.

Australian government reviewing regulations related to superyacht charter in Australia

The Australian government has been asked by Superyachts Australia to review the regulations affecting the superyacht wishing to charter in Australia.

Spanish Matriculation Tax Study and Report

The article includes a video interview with the President of the Balearic Islands and the Spanish Matriculation Tax Study and Report.

Lower VAT for the Yacht Leasing Scheme introduced by Cyprus

Cyprus lowers the VAT payments applicable under the Yacht Leasing Scheme, resulting in VAT as low as 3.4% off the initial value of a yacht.

Superyacht Security Summit and Superyacht Fiscal Summit, March 28-29, 2012

The Superyacht Security and Fiscal Summit, held in March 28-29 respectively, at Glaziers Hall in the centre of London confirmed the exciting schedule of sessions as well as the first collection of top industry names as speakers of these events.

Bali to give visiting superyachts a warm welcome thanks to new Indonesia PIB regulations

In a meeting on the 8th of December 2011 in Bali with Asia Pacific Superyachts Indonesia, Ms Nyoman Rini, Head of Customs for Benoa Harbour, gave […]