Tag: LAW

Management, Regulation

Rules for flagging yachts with flags and pennants

At sea, a yacht’s flag or pennants are used to communicate, affirm, indicate, and show respect to many different people, groups, and territories. Flags have been an important part of sailing for many years and their proper use is respected all over the world. The general principle of raising the flag and pennants on each yacht is similar. The most important flag should be placed … Continue reading Rules for flagging yachts with flags and pennants

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Management, Regulation

Flag state – why is important for you?

As I wrote in my post , one of the most important decisions we have to make is choosing the flag of the yacht. Remember that the flag you choose will have a direct impact on the use of the yacht. I mean – law, taxes, liability and yacht inspections. It is important for you to realize that a yacht is not just a luxury toy. The purchase of … Continue reading Flag state – why is important for you?

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Фото додано Інге Валлумрод: https://www.pexels.com/en-pl/photo/sailboat-during-the-golden-hour-2562096/
Regulation

Yacht temporary admission procedure in the European Union

If the yacht sails in the territorial waters of the European Union, you should remember to pay the value added tax (VAT). The VAT payment will also be related to the prior selection of the flag state, the yacht ownership structure and the place of tax residence of the yacht owner. I wrote more about it here . The EU’s Sixth VAT Directive was amended in 1993. One of … Continue reading Yacht temporary admission procedure in the European Union

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