Under the temporary importation regime the importation of certain goods is subject to total or partial relief from import duties. Imported goods relieved from duties payment are also relieved from VAT and excise payment. Such goods are imported for a specific purpose and are re-exported within specified periods without having undergone any change except for…
Private pleasure yachts under Belize Law Belize has the benefit of distinguishing yachts under its registry in 3 categories, namely: Yachts of 24 meters and above and 500GT and over, which are deemed to be Super Yachts; Yachts of 24 meters and above and less than 500GT, which are deemed to be Large Yachts; Yachts…
As of October 2015, the 3rd edition of the Commercial Yacht Code 2015 has become applicable (the Code). The Code has been drafted by the Malta Transport Centre’s Merchant Shipping Directorate, (the Administration), taking into consideration consultations with yacht repair yards, specialised service providers and manufacturers, recognised organisations, appointed surveyors, a number of yacht management…
The procedure of transferring the ownership of a private yacht registered under the flag of the Cayman Islands, following the sale of the vessel, is initiated by the submission to the Registry of specific documents on the part of the seller (transferor) and specific documents on the part of the purchaser (transferee). The…
Upon the sale of a yacht registered under the Cyprus flag, and given that the new owner wishes to maintain the existing flag, certain documents need to be submitted with the Cyprus Ship Registry in order to effect the transfer of ownership. The Seller (corporate person) needs to provide: A duly signed resolution of…
