Foreign Property Investment

Yacht / Vessel Registration & Management

Without a doubt in recent years there has been a great transfer of merchant navy registration from traditional areas like Britain, Norway and Greece to offshore shipping jurisdictions such as Panama, Liberia, the Isle of Man, Cyprus and the British West Indies .

Correctly advised an individual can also benefit from such tax free/low tax environments. Apart from the lower registration fees, it may also be possible to rent or charter a vessel without any significant or even any tax repercussions.

Such benefits, together with the ability to maintain a respectable flag - if a vessel is registered in the Channel Islands or a British colony is fully entitled to fly the Red Ensign as if it was a native British vessel - have meant that few private yachts of any size today are registered in their home territory.

In addition, for those using vessels in EU waters, it may also be possible to purchase a yacht through the Isle of Man with a local tax exempt company and then reclaim back any VAT paid by registering for VAT on the island to reduce VAT to 12% by registering your vessel in Madeira (with MAR) which of course is fully integrated part of the EU.

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