It is imperative for yacht owners to realize that once a yacht is registered in a particular country, all of that country’s laws and regulations apply to the yacht.
When buying a yacht, the choice of yacht flags – jurisdiction – is one of the most important decisions to make as it has a direct effect on taxes, insurance and legal status.
A variety of jurisdictions around the world are available – both EU and non-EU; each have their advantages and should be determined separately in each case.
A key factor is to select a jurisdiction that is well respected, with a good reputation worldwide. Further aspects, such as whether the yacht is for leisure or commercial use, vat status of the yacht and the permanent residency of the owner, are also matters to be taken into careful consideration before determining the best option for your yacht.
On a case by case basis we, at Continental Maritime, have a long standing history of expertise and experience in this area to help you make the best choice whilst being able to communicate on your behalf with the flag authorities and customs when required.
Contact us today with your requirement and we will guide you through the process efficiently and effectively.