It is a fact that Yacht Leasing Schemes for EU operating vessels are becoming more and more popular.
Under such schemes, the VAT payable may be reduced to as low as 2.42%.
In the past year it was noted that the Maltese Yacht Leasing Scheme maintained its popularity with the Cyprus Yacht Leasing Scheme, being a newer version, gaining considerable grounds, especially for the bigger boats.
The Yacht Registration Centre, Y.R.C, being very experienced in this area, with staff in Malta and Cyprus, offers free advice on the implementation of both schemes and a full comparison of the two, for each particular case.
For more information on the Malta Leasing Scheme, please click on the link below:
For more information on the Cyprus Leasing Scheme, please click on the link below:
Our lawyers and tax advisors in Malta and Cyprus take care of the yacht leasing scheme implementation process all the way.
- Provide for the establishment of the Yacht Owning Company, and all ancillary corporate services and opening of bank account services, if required;
- Provide for the VAT registration of the Yacht Owning Company and the application for the approval of the scheme to the VAT authorities;
- Draft all relevant agreements- sale/ lease and necessary paperwork;
- Assist in the registration of the vessel under the flag of the client’s choice and effect the transfer of ownership of the vessel at the end of the lease period, under the said flag;
- Personally meet the clients upon their arrival to Malta or Cyprus and assist them with the berth reservation arrangements, the Customs and VAT Authority processes and in general with all formality requirements;
- Arrange for the accounting and VAT submissions of the Yacht Owning Company for the duration of the Lease;
- Arrange for the audit of the Yacht Owning company;
- Obtain the VAT paid certificate for the Yacht at the end of the scheme;
- Arrange for the closure of the Yacht Owning company following the end of the lease and its deregistration from VAT;
Having our fully licensed and operative offices in Malta and Cyprus; we do NOT outsource , we provide prompt and accurate responses and guarantee the competitiveness of our fees.
Contact Us today to see what we can offer you!