Yacht Ownership

Yacht Ownership

Embarking on the Journey of Yacht Ownership

Venturing into yacht ownership is an exhilarating decision, filled with possibilities and dreams of open seas. To navigate this journey successfully, consider these pivotal aspects:

Choosing Your Dream Yacht

Ponder the type of yacht that resonates with your seafaring aspirations. Would a powerful motor yacht or a graceful sailing vessel suit your style? Are you drawn to the allure of a brand-new craft, or does a yacht with a rich history speak to you? Delve into the specifics: the yacht's design and model, its size and silhouette, the number of cabins for hosting your guests, and the choice of hull material – be it durable steel, lightweight aluminum, or versatile fiberglass. The yacht's seaworthiness is crucial, especially in relation to the adventures you foresee.

Purpose and Use of Your Yacht

Visualize how you plan to use your yacht. If your ideal day involves tranquil coastal trips, casual fishing excursions, or diving adventures in hidden coves, a yacht with a shallow draft and an inviting swimming platform is your go-to choice. On the other hand, if you dream of embarking on extensive, long-distance voyages across the high seas, consider larger, robust yachts in the 10 to 50-meter range, equipped with dual motors for enhanced safety and performance.

Anticipating the Wait for the Perfect Fit

If your heart is set on a particular model or bespoke features, patience is indeed a virtue. Building a custom yacht tailored to your exact preferences can take time, but the result is a vessel that perfectly encapsulates your vision and lifestyle.

Securing a Berth for Your Vessel

One critical aspect often overlooked is finding a long-term berth, especially in sought-after locations like the Côte d'Azur, where space is at a premium. It's imperative to strategize about where your yacht will be moored.

The most secure and prestigious option in France is purchasing a berth, a practice known as 'amodiation.' This investment grants you the right to use a mooring for a set period, typically ranging from 10 to 99 years, depending on the port's concession terms. As a berth holder, you gain not just a parking spot for your yacht but also a stake in the marina's community and future.

Budget Considerations and Expenses

Determining the Price of Your Yacht

A myriad of factors influence the cost of a yacht:

  • Its year of manufacture, type, and pedigree.
  • The reputation and location of the shipyard, with established builders demanding higher prices.
  • The yacht's technical prowess, including engine power, operational hours, navigational equipment, and hull material.
  • The luxury quotient of interior finishings and comfort amenities, such as the layout and furnishing of cabins, availability of additional rooms like bars or Jacuzzis, and essential accessories including tenders and water toys.

Understanding Ongoing Maintenance Costs

Embrace the commitment of yacht maintenance. This encompasses regular upkeep, anchorage fees, utilities, crew salaries, insurance, and fuel for your maritime journeys. Maintenance expenses can be approximately 10% of the yacht's value annually, a figure that may increase as your vessel ages. Proactive maintenance is not only a cost-saving measure but also essential for ensuring safety and preserving the yacht's value in the secondary market.

Financing Your Dream Yacht in the European Union

To obtain a loan or lease within the EU, tax compliance in the region is a prerequisite. European financial institutions typically offer leasing programs, requiring an upfront payment of 25-50% of the yacht's value, with the balance spread over monthly payments. These programs can be financially advantageous, particularly with reduced VAT obligations.

Acquiring a Pre-Owned Yacht

In the pre-owned yacht market, the transaction begins with a written offer to the current owner. Upon agreement on the price, a standard purchase agreement, the MYBA MoA, is signed. This agreement requires a 10% deposit into an escrow account, followed by a comprehensive survey or inspection by an independent expert. This expert, ideally accredited in the country of the yacht's flag, assesses the yacht's condition, influencing the final purchase decision.

Essential Documentation for Ownership Transfer

Ensure you have all necessary documents during the transfer: the previous registration certificate, insurance policy, commercial certificate (for commercial vessels), and a complete record of maintenance and compliance. The Bill of Sale, notarized and apostilled, formalizes the transfer. Adequate insurance coverage is crucial, as the previous policy becomes null with the change of ownership.

Registering Your Yacht

Registration grants your yacht a national identity, allowing her to sail under a specific flag. This involves presenting a Deletion Certificate, confirming the vessel's removal from prior registries. Whether the yacht is privately owned or company-held affects its permissible duration in EU waters and the benefits it can enjoy.

Yacht Insurance Considerations

Insurance should encompass various factors – the yacht's specifications, usage, sailing geography, crew nationality, and management status. Separate insurance arrangements are typically required for tenders and other watercraft.

Conclusion: Navigate Your Yacht Purchase with Expertise

The path to yacht ownership is intricate and requires skilled navigation. Engaging experts familiar with yacht transactions ensures a seamless and successful purchase experience.

For personalized guidance and detailed information, our agency is at your service.

You may also like
Charter Tips
Charter Tips
Yacht Rental Terms
Yacht Rental Terms
List of all
Stay Updated