LEGAL
OWNERSHIP
Click
to enlarge
Yachts are magnets for various taxes, particularly
European Value Added Tax (VAT, TVA). Structured
ownership can save tax on yacht acquisition and
subsequent operation. The challenge is getting
it right at every level.
We
form and manage yacht-owning structures in chosen
jurisdictions and provide a complete suite of
corporate and trust services including registered
office or place of business, directorship and
trusteeship, personal wealth management, banking
and active administration and secretarial support.
YACHT
REGISTRY
Click
to enlarge
A yacht's registration is her passport to sail
international waters. Which flag to fly must be
considered in the context of it's reputation,
efficiency, flexibility, lender and charterer
preference as well as Port State Control intervention.
Using
our global network we provide Representative
Person services to act as the channel of communication
between the owner and government authorities.
Our
industry knowledge ensures efficient yacht registration
and ongoing support on licensing and manning
issues for cost-effective compliance with Flag
State requirements
.
Click to enlarge
ACCOUNTING
SERVICES
We provide assistance with every aspect of the
accounts function, from day to day processing
to preparation of annual financial statements.
Management
accounts on a monthly, quarterly, half yearly
or annual basis are a necessity for yachts to
track and compare actual costs to budget.
We
work with existing staff and our services range
from the provision of structured training to
a complete outsource function depending on your
requirements.
VAT
SERVICES
Click
to enlarge
VAT compliance is an unavoidable fact of European
yachting. Our VAT compliance services are provided
from our office in the Isle of Man but with a
Community-wide perspective. The Isle of Man is
an associate part of the Community Customs and
VAT system while being independent in other matters,
including taxation. This combination of independence
and a privileged Community link, coupled with
a zero tax regime for business, makes the island
a highly attractive hub for conducting both Community
and international yachting business.
Our
VAT services range from VAT registration and
obtaining VAT Paid Evidence (EU "VAT
passports") to ongoing assistance and guidance,
VAT compliance and handling of VAT reclaims.
We provide these services on a continuing contract
or as needed, whether acting as manager or Fiscal
Agent.
We
speak the language of Superyachts
Tel:
+44 (0)1624 662020
Fax: +44 (0)1624 662430
email: ayuk.ntuiabane@moorestephens.co.im
PO
Box 25
26-28 Athol Street
Douglas
Isle of Man
IM99 1BD