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Corporate Support Services for Superyachts

Among the most critical aspects of operational yacht management is Corporate Support. Superyachts can take up a significant amount of time for family offices since they can move between different flag states and jurisdictions, changing both operational and compliance requirements.

At Ocean Independence we recognise these unique challenges for superyacht owners and provide a comprehensive suite of Corporate Support Services designed to streamline yacht ownership and ensure seamless operations.

What are Corporate Support Services?

Corporate Support Services encompass a range of administrative, legal, and financial tasks necessary for the smooth operation and ownership of a superyacht. Assisting yacht owners in deciding the appropriate domiciliation, corporate ownership structure, and flag for their yacht, these services are vital for ensuring compliance with international regulations. This helps achieve the desired taxation structure and ensures a safe legal standing for yacht ownership.

Additionally, ongoing support is provided to achieve efficient VAT treatment during periods of extended shipyard work and other substantial purchases, maintaining operational efficiency, and safeguarding the Owner’s interests.

The primary components of our Corporate Support Services include:

  • Corporate Structuring and Ownership Solutions
  • Legal and Regulatory Compliance
  • Financial Administration and Reporting
  • Yacht Registration and Documentation

Why Is Corporate Support Important?

Complex VAT / Tax Treatment

Unlike commercial shipping, there is very little global consensus regarding the VAT and tax treatment of superyachts. The treatment and shipment of products/services purchased, and charter services carried out differ significantly from country to country, and even port to port within a country.

Risk of Liabilities and Fines

Without appropriate ownership and VAT treatment structures, considerable liabilities and fines can result for the Owner. All factors, including the yacht’s flag, ownership, cruising area, registration status, and national tax and customs regulations, must be continuously considered.

Qualified Representation

Misinterpretations are common at the local cruising level, but these can be resolved more easily with a qualified representative available.

ALFA owner's deck

What Corporate Support Services Do We Offer?

1 Financial Administration and Reporting

Proper financial management is essential for the sustainable operation of a superyacht. Recognising the importance of this we provide comprehensive financial administration services to ensure smooth and efficient yacht operations. Our Team offers expert advice on suitable corporate yacht ownership structures, flag state registration, and associated VAT implications. We maintain accurate financial records and ensure the timely payment of invoices, providing regular financial reports to keep Owners informed about their yacht’s financial status. Each report is tailor-made to address the specific needs of the yacht and Owner, ensuring that all financial aspects are managed professionally and transparently.

 

2 Corporate Ownership Structuring

Superyacht ownership often involves complex corporate structuring to optimise tax benefits, liability protection, and confidentiality. At Ocean Independence, we offer tailored solutions to suit individual Owner needs. Our services include the domiciliation of ownership companies based on the Owner's personal circumstances, preferred method of VAT resolution, and intentions for charter and eventual resale. We ensure that each corporate structure is tailored to meet the unique requirements of the Owner, providing a seamless and efficient approach to yacht ownership.

 

3 Yacht Registration and Documentation

Ensuring that your yacht is properly registered and documented is crucial for legal and operational purposes. We assist with yacht registration, whether commercial or private, with a suitable flag state. Our services include a full evaluation of corporate and beneficial Owner domiciliation, along with the objectives regarding statutory compliance and associated costs. We handle all necessary documentation, including certificates of registry, tonnage certificates, and safety certificates. Additionally, we manage renewals and amendments of registration and documentation as required, ensuring your yacht always remains compliant and operational.

 

4 Legal and Regulatory Compliance

Navigating the complex legal and regulatory landscape of superyacht ownership can be daunting. Ocean Independence provides comprehensive support to ensure your yacht complies with all relevant laws and regulations.

Our services cover both flag state compliance and international regulations. We assist in meeting the requirements of the yacht's flag state, including safety, environmental, and operational standards. Additionally, we help manage crew contracts and employment conditions in accordance with maritime labour conventions.

We also offer cost-effective solutions for VAT and other taxes on the vessel through various national regimes. Our expertise includes facilitating the importation of yachts, whether temporary or permanent, via various EU and U.S. programs. Furthermore, we keep you informed and compliant with international maritime laws, such as SOLAS (Safety of Life at Sea) and MARPOL (Marine Pollution).

“Some of my most important decisions when buying a yacht were made regarding these issues. I couldn’t have done it without Ocean’s Corporate Support.”

Owner, 44m motor yacht

The Benefits of Our Service

Independent Assessment

Owners receive reassurance through the independent assessment of the vessel’s expenditures, and crew can rely on our ability to gauge the accuracy of quotations and prices offered by suppliers and contractors.

Budget Monitoring

We provide ongoing monitoring of budgets to help safeguard budgetary targets. Clear and transparent financial reports offer a strong financial backbone for the yacht, leading to effective and timely provision of operational funds and reinforcing trouble-free financial operations.

Timely Invoice Delivery

The monitored “Care Of” address in Europe ensures timely delivery of invoices for payment. This prevents delayed payment and potential operational delays that can occur when invoices are sent to the vessel’s offshore ownership company address and neglected.

Contact Us

For more information on how we can assist you with Corporate Support Services, contact us today.

Enquire now

Need help or advice?

The yachting journey can be complex with many decisions to be made. Get in touch with Ocean Independence, and one of our specialist consultants will help you make the right choices.

As a truly global company with 15 offices worldwide, we’re available 24/7 to help with any enquiries.

OI stand

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