Abacus Yachts assists owners and their representatives in understanding the diverse requirements associated with yacht ownership, whilst providing a tax efficient ownership structure to facilitate effective yacht ownership and operation.
When purchasing a high value asset such as a yacht it is essential to consider whether there may be wider financial or other liability implications. The answer varies greatly, depending on the intended use of the yacht.
Here are some of the considerations:
- What entity type should I use – Company? Partnership? Foundation? Trust?
- Will the use of a corporate entity offer more privacy?
- Will my vessel be used on a pleasure only basis or will it be chartered for financial return?
- Do I need to obtain tax and VAT planning advice?
- Can I reduce my VAT cost on purchase and/or operation?
- Will cruising within the EU be a VAT issue?