Praxis provides bespoke yacht ownership structures to owners of vessels of all sizes, providing considerable advantages and peace of mind. We work alongside tax and legal advisers to ensure that each yacht is owned in the most appropriate way to meet the owner’s objectives and ensure long-term security.
The benefits of segregated ownership
Forming a company, partnership or other arrangement to own and operate a yacht provides asset protection for the owner and offers other benefits, including:
- Qualification for a flag not available to the individual owner
- Delegation of the day-to-day running of the vessel
- Access to yachting expertise and contacts
- Ring-fencing the yacht from an asset-liability perspective
- Beneficial owner discretion
- VAT registration at a suitable jurisdiction for commercial yachts
Our specialist yacht ownership team will work with you to select the most appropriate structure and jurisdiction for incorporation. We can manage the whole process from establishing the initial ownership arrangement to the on-going administration of the corporate yacht owning entity, ensuring everything complies with the relevant regulatory obligations.
Please note that Praxis does not provide tax or financial advice.
Working with your wider advisory team
We can also partner with your existing legal, tax and fiduciary teams, and provide specialist technical knowledge and guidance on the fast-moving regulatory environment. Increasingly, we act as a trusted partner supporting family offices with the specialist aspects involved in owning and operating a yacht.
Where we simply advise on the structure rather than forming it, we can provide ongoing consultancy services to the corporate service provider or family office to ensure a smooth passage for the company.
Yacht Ownership Services
- Ownership structuring - initial and ongoing
- Consultation, administration and management of yacht/tender new builds, sales and purchases
- Day-to-day yacht specialist oversight and administration, including charter operations
- Review, execution and ongoing management of contracts, agreements and external appointments
- Advice and administration support to captains and owners relating to yacht operations and industry services
- Initial and ongoing EU Customs and VAT oversight, including fiscal responsibilities/yard periods
- Control point for yacht operations, including expenditure, insurance, crew and safety
- Centralised relationship point for ownership, management and crew services
- Client access via our bespoke cloud-based platform
Our corporate services for owners include:
- Administration
- Company directors
- Company secretarial and governance
- Registered office
- Family office
- Regulatory compliance
Praxis Select - Packaged Yacht Services
Our suite of solutions for yacht ownership, management and crew services specifically designed to provide efficiencies while maintaining a tailored approach for private and commercial yachts under 500-gross tons.
Yacht VAT Management Solutions
In collaboration with legal and tax specialists, Praxis Yacht Services can provide the necessary arrangements to help you navigate your European VAT obligations.
