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Yacht Management In The Isle of Man

Yacht Management is a necessity if you or your company owns a mega-yacht. Purchasing and running a yacht is expensive in its own right – but having your yacht or ship managed offshore can mean saving an enormous amount of tax!

The Isle of Man is the ideal location to register your Yacht or Ship due to its association with the United Kingdom and its favourable tax treatment.

Yachts and Ships registered in the Isle of Man will fly the ‘British Red Ensign’ which entitles the Yacht to UK Consular services and the protection of the Royal Navy. The Yacht will also enjoy zero rate of tax on shipping related activities and may reclaim VAT on purchases and expenses.

Benefits of registering a vessel on the Isle of Man include:

* A zero rate of tax
* No annual tonnage dues
* A low registration fee
* Attractive VAT arrangements
* Security of mortgages registered on the Island
* A Demise Charter Register, both in and out
* British Flag and support of British Consular services
* Flexibility in the requirements for registered owners including limited partnerships

Many types of Ships are accepted for registry – including Tankers, Gas and Chemical Carriers, Offshore Support Vessels, Container Ships, Cargo Ships and Passenger Ships. There is also the “mega-Yacht Code” which allows for commercial yachts over 24 metres to be registered.

Yacht and Shipping Management services extend to assistance with ad hoc projects through to providing the complete yacht management service. Care should be taken when choosing a Yacht Management company – as they will be responsible for your ‘baby’ and you need a company that doesn’t hassle you constantly – but also that you can contact, night or day, if a problem arises.

Written by Corporate Services · Filed Under Yachts 

Comments

One Response to “Yacht Management In The Isle of Man”

  1. Dean Stott on May 5th, 2011 1:32 pm

    Dear Sir/Madam,
    I would like to bring to your attention our company, Defensores Ltd, we are a Global maritime security specialist
    We have protected some of the worlds top yachts and our team are comprised of former UK special forces operatives.
    We work along side many yacht management companies and would like the chance to work along with your company.
    We are happy to send your our brochure and any further details, perhaps we can arrange to meet with yourselves.
    Look forward to hearing your thoughts and please browse our website.
    http://www.defensoresltd.com

    Kind Regards
    Dean Stott
    Operations Director

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