Individual, Corporate & Foreign Maritime Entity
Many yacht owners and individuals in the process of purchasing a yacht are unaware of the benefits of establishing ownership of a vessel through a corporation, opposed to personal ownership. If the yacht is involved in an accident and a claim made against it, the beneficial owner can protect their other personal assets since, in the unlucky event of a claim, any liability would be limited only to the value and assets of the company.
The transfer of ownership,when held via a corporate entity, is straightforward and it is achieved by simply transferring the shares of the company, rather than the registration itself, at the Registry. Owning and operating a yacht through a company will allow the owner to enjoy privacy as their name is kept off the register. Also, the potential future sale of the vessel will be a much easier process with minimum costs since changing the ownership of a vessel will only imply a simple transfer of the shares in the company avoiding the expensive and protracted procedures required at the registry.
Registering a yacht in the name of a company as opposed to an individual will also enable the passing of assets on to owner’s heirs without liability to estate duties or the pre-established inheritance tax.
We can liaise with brokers, agents, and institutions and will arrange for all the necessary documentation to successfully register a vessel or to transfer the title and complete a purchase or sale on your behalf.