Janet Xanthopoulos’ Post

🚨 Are you looking to buy a yacht? Pop by Rosemont Yacht Services stand at QJ11 to discuss your project with our team. Here’s what you need to know before setting sail. 🚨 Owning a luxury yacht is a dream, but the journey to ownership can be challenging, especially if you're new to the world of superyachts. From legal complexities to operational management, here are some common hurdles you might encounter when acquiring your yacht: Legal & Regulatory Complexity: Navigating international maritime laws, flagging regulations, and compliance issues can be overwhelming. Choosing the wrong jurisdiction or missing key compliance steps could result in costly fines or even restrictions on your yacht’s movement. Yacht Ownership Structuring: Should you buy in your name, through a company, or a trust? Without proper ownership structuring, you may face unnecessary tax exposure, legal liability, and complications with chartering or resale. Tax & VAT Considerations: Understanding and complying with tax and VAT requirements across various jurisdictions is crucial. VAT alone can amount to more than 20% of the yacht's value depending upon the countries of delivery, and missteps can result in severe additional financial penalties. Yacht Financing & Insurance: Financing a yacht purchase isn’t like buying a home. It's specialized and involves understanding unique terms and conditions. Similarly, obtaining adequate insurance for such a high-value asset requires expert guidance to ensure you're fully covered. Registration & Flagging: Private, Commercial, Yacht Engaged in Trade? EU or non EU flag? Choosing the right flag state and operational mode is critical for tax efficiency, privacy, and operational flexibility. There are many jurisdictions to choose from, and each comes with its own benefits and limitations. Crew Management & Administration: Recruiting, training, and managing crew for your yacht can be a logistical challenge, requiring payroll, compliance with maritime employment laws, and administrative oversight. Operational Management & Budgeting: Maintenance, fuel, docking fees, and unexpected repairs can add up quickly. Managing these ongoing costs requires precise budgeting and operational oversight to avoid financial strain. ⚓ How Rosemont Yacht Services Can Help: At Rosemont Yacht Services, we specialize in guiding yacht owners through these complexities with a tailored, one-stop-shop solution. Let us take care of the complexities, so you can focus on enjoying the luxury, freedom, and adventure that yacht ownership offers. Ready to start your yachting journey? Reach out to Rosemont Yacht Services today and let’s make your dream a reality. #SuperyachtOwnership #YachtBuyers #YachtAdministration #LuxuryYachts #WealthManagement #YachtAdvisors #RosemontYachtServices