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Legal & Finance
Most people mistakenly believe that as long as a yacht is titled only in one spouse’s name or in the name of a separate entity, the other spouse has no right to the boat in the event of divorce.
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At the start of the year, it's worth considering whether our terms and conditions would benefit from an overhaul, and this article seeks to cover some key pointers, equally relevant in any contract negotiation.
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As the marine industry continues to grow, captains more than ever are entering into contracts on behalf of owners for the purchase of goods and services. But what happens if a relationship turns sour?
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With the aim of boosting its charter market, Spain has repealed two out of date rules concerning yacht charter and the dispatch and clearance of yachts, and also introduced a simplified charter license.
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When ISWAN published its Spotlight on Q1 2023, perhaps most worryingly, it showed there had been a substantial quarter by quarter increase in cases of abuse, bullying, harassment or discrimination (cases being up by almost 50 per cent) on ships.
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While being a broker on a superyacht sale can be quite rewarding, yacht brokers need to know how to protect themselves and understand what is required from them to be legally entitled to commission from a sale.
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When we talk about most yachting activities in and around the EU, the subject of tax (in particular VAT) is never far down the agenda. But what VAT is payable on the value of a yacht’s hull and when does it need to be paid?
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There are times when being stuck on a yacht can be an absolute nightmare, leaving a crew member with no one to speak to and nowhere to go. Things can get even worse for both male and female crew members if someone’s advances are unwanted.
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While it is with some relief that the spate of fires over the last 18 months have not resulted in any serious injury or loss of life, fire damage and the resulting loss is usually devastating, leaving owners, crew and stakeholders in considerable shock.
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In recent times there has been an unavoidable shift for captains from ‘simply’ being the master of the vessel to effectively acting as CEO of a small to medium size enterprise.
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Incidental risks associated with owning and operating a vessel could be unforeseeable, costing you a fortune after an unfortunate event. Yacht insurance is a critical asset protection tool that mitigates an owner’s unexpected financial liability.
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When it comes to money and payments surrounding yachts and yacht transactions, a grey area is always present about who can and who cannot receive certain funds, both legally and ethically. The funds referred to here are referral fees and kickbacks.
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Margin loans are an effective way for high-net-worth individuals to borrow low cost, short term money. Despite their benefits, awareness of margin loans is relatively low, with many potential borrowers missing out on the opportunity to secure finance.
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Discover how Voly solves the financial management needs across a range of assets, including private aircraft and large estates, and why you should consider it for your own asset accounting.
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Superyacht captains are no longer responsible only for the safety of the vessel and all souls on board, but increasingly also for the finances aboard a yacht, that can match a medium sized business.
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Recently we've seen shipping delays in the yacht transport industry lead to many issues. How can you, as a professional in the industry or an owner seeking timely transport of your vessel, avoid unhappy customers and delays?
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As the 2022 charter season kicks off, Voly has announced that it is offering the yachting industry six months of free access to Voly’s APA (Advanced Provisioning Allowance) for charters.
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Any seafarer worth their salt knows that passage planning is essential whether you’re cruising along the coast for a weekend away or exploring the Antarctic in a 100m+ expedition vessel, so why are we talking about it today?
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As the war in Ukraine rages on, we have all read or heard about, either in the press or in conversation with others in the yacht industry, Russian sanctions. Few know exactly how the sanctions apply though, and what the end result will be for the yachting industry.
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If your superyacht is paying too much in foreign exchange fees, here’s how Voly can help thanks to fees that are significantly cheaper than Britain’s business banks.
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In the high flying, jet setting superyacht industry, vast amounts of money change hands on a daily basis. The UK’s Voly Group has introduced a revolutionary new software solution to help yacht owners, managers and captains manage their yacht’s expenses on a daily basis.
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Over the past couple years there has been an increase in first time yacht buyers, meaning inexperienced buyers will be looking to their broker for guidance in purchasing a yacht. As a broker, you play an integral role in either the purchase or sale of a yacht.
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Led by Louise Holloway, Sarnia Yachts’ crew management department is one of the company's three core pillars – comprising Ownership, Management and Crew – and has been one of the busiest areas of the 50-year business during the Covid-19 pandemic.
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While a global economy increasingly connected by the internet has led to a gradual increase in cross-border yacht transactions, there has been less than comparable development in the use of digital closings in the yacht space. The primary reasons for this are two-fold.
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Denison was the first yacht brokerage firm to accept bitcoin as a form of payment and the first company with the ability to accept cryptocurrency payments without a limit. Today it has completed more than five bitcoin transactions for yacht sales and yacht charter.
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As Azul Marine joins forces with IGY by sponsoring the upcoming Caribbean Charter Yacht Show in St. Thomas, it is looking forward to unveiling a new value proposition for its clients while also becoming part of an exciting new charter event.
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The Cannes Yachting Festival returned in style last week allowing yachting professionals to catch up in person after 18 month of cancellations. During the event we spoke with Alasdair Milroy, founder of Breaking the Mould Accounting, about the value of attending and the trends impacting his business.
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For a new yacht owner, warranties are a saving grace as in the first year or two it's possible things are going to break. However, complying with the terms of a warranty is vital to avoid denial of a claim and additional expenses down the line.
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For decades now, superyachts have represented the pinnacle of wealth, pushing the boundaries of functional beauty and elegant luxury. But as yachts get bigger, and their interiors ever more opulent, it is surprising how many advances from the technological world have been left behind over the years.Read More
The peaceful pastime of carefree yachting has now become a target for hackers and fraudulent behaviour, and as yachts are getting bigger and bigger, the need for additional security measures is growing too.
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