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FAQs

Find the answers to the most commonly asked questions

Buying a yacht

    Using a yacht broker when buying a yacht will save you time and make the whole process as easy as possible for you. A knowledgeable yacht broker can take care of every detail of the purchase process. Using their extensive network of contacts and market knowledge your broker will find you suitable yachts based on your preferences and criteria, oversee contracts and get you the best deal. We offer expert advice on class and compliance, how to best organise your ownership structure, finding the most efficient finance platform and so much more.

    How long it takes to find the perfect yacht is largely dependent on personal preferences and requirements. Once a broker understands the experience you want to achieve, they will work to find a suitable selection of yachts available in the market. Once you have found your yacht, the purchase process usually takes from six to eight weeks from contract to completion.

    Sea trials and detailed surveys are all part of the purchase process. To avoid conflict of interest, it is our policy not to act as surveyors on behalf of our clients, however we will help you to retain the services of an appropriate team of experts, surveyors, engineers and (if necessary) electricians, fully reflecting the scope of survey you require.

    Running costs vary widely depending on the size, build, age and condition of the yacht, as well as the level of maintenance that the owner wishes to perform annually. Once you have found a potential yacht, our team will be able to best advise on potential maintenance and running costs.

    The Ocean Independence team offer several ongoing services once you have completed the purchase of your yacht. The yacht management team offer a range of services including yacht registration, operational management, crewing, financial services and more. Additionally, if you wish to make the most of your investment and charter your yacht, our charter management team will work to successfully offer her for charter with a schedule that suits your needs.

    Yes, if Ocean Independence is acting as a stakeholder for a purchase transaction. KYC is the process used to verify a client’s identity. KYC requires proof of identity and residence. This can be a passport or other government ID and utility bill or similar. Originals or authenticated copies may be provided. The information is only required for the purposes of complying with international Anti Money Laundering (AML) regulations.

    Selling your yacht

      The number one reason to use a yacht broker when selling your yacht is to save you time and avoid any uncertainty during the sales process. Our knowledgeable yacht brokers have access to a worldwide network of brokerage houses to give your yacht the best visibility. We can take care of every detail of the sales process and offer advice based on years of experience in yacht sales. Cooperation is key, and your broker will manage relationships between all parties involved in the process.

      The first step to selling a yacht is an effective marketing plan to target potential buyers and their associates. Your broker will liaise with the Ocean Independence marketing team to create this plan and will handle all enquiries, as well as scheduling and accommodating viewings. Once a buyer has been found and contracts negotiated, the Ocean Independence team will oversee contracts, sea trials, survey, completion and delivery to ensure a successful sale.

      The amount of time that it takes to sell a yacht varies hugely depending on a number of important factors including price, location, age and condition. Using extensive knowledge of the yacht sales market, your broker can advise on all of these factors in order to best position your yacht for a successful sale. Once a potential buyer has been found, the sales process usually takes from six to eight weeks from contract to completion.

      Yes, if Ocean Independence is acting as a stakeholder for a sales transaction. KYC is the process used to verify a client’s identity. KYC requires proof of identity and residence. This can be a passport or other government ID and utility bill or similar. Originals or authenticated copies may be provided. The information is only required for the purposes of complying with international Anti Money Laundering (AML) regulations.
      Location – A yacht for sale should be located where she is visible and more likely to attract attention, viewings and ultimately a buyer. We always advise to maximise exposure to minimise time on the market.

      Chartering a yacht

        As the ultimate luxury holiday, a yacht charter should be tailored uniquely to your needs and preferences. Our experienced brokers will be able to understand what kind of charter experience you want and use their global network of over 3,000 luxury yachts for charter to find all available yachts that match your requirements. Using their extensive local knowledge, your broker can then work with the Captain to advise a charter itinerary that is totally unique to you. Should you have questions at any stage of the charter process, your broker will be available to assist.

        Once you have decided you wish to proceed with booking the charter, we will issue you with a contract. This is likely one of 2 standard contracts depending on the cruising region. The most common is the Mediterranean Yacht Brokers Association (MYBA) charter agreement, endorsed by a leading London maritime lawyer. This contract has evolved over the last 20 years and is now regarded as the reliable industry standard. The 2-part American Yacht Charter Association (AYCA) agreement is primarily used in the U.S. and with U.S. flagged vessels, also adopting terms from the MYBA agreement.

        What is and is not included in your charter rate varies from yacht to yacht and you may be expected to pay the following in addition to the set charter rate:
        • APA - The APA or Advanced Provisioning Allowance represents the operating expenses that you will incur during your stay on board, including but not limited to: fuel, berthing fees, customs charges and food and beverages.
        • shipping/supply agent fees
        • local taxes
        • delivery fees
        Your broker will be able to advise on all additional charges during the process of selecting your charter yacht.

        In most cases you will be required to pay (by wire transfer) a deposit of 50% of the total charter fee upon signing the Charter Agreement. The remaining 50% of the charter fee plus the APA and any applicable taxes, delivery fees and security deposit are due one month before the beginning of your charter.

        Culinary excellence is often the highlight of any charter and your yacht’s chef will customize this. Prior to your charter we will ask you to complete an information sheet noting your culinary preferences or any special dietary requirements, beverages, newspapers, flowers or other special requests. Details on any medical issues, allergies and special occasions can be noted. We encourage you to divulge as much information as possible to give the crew a detailed understanding before you step on board.

        It is common practice on most yachts for small quantities of personal laundry to be carried out by the yacht’s crew as a service. Please note that these terms also allow the crew to refuse politely to do excessive quantities of laundry on board or to handle particularly delicate items. It may be possible to have certain laundry done ashore professionally if time allows, the cost of which will be deducted from the APA.

        If your charter has been everything you hoped it would be, by all means show your appreciation with a gratuity. However, please note that although crew gratuities are customary, they are left at your sole discretion. As a guideline, we would suggest between 10% and 20% of the charter fee to be split equally between the crew depending on the level of service.

        In most cases, smoking is not permitted inside the yacht for safety reasons. Many yachts operate a policy of smoking permitted on deck only, however, please check the policy as each yacht varies in their approach to smoking on board.

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