A useful summary of what the MLC is and who it applies to. More
Yachts are often described by the Family Offices we work with as assets that take up a disproportionate amount of their time. Sarnia Yachts has a unique combination of knowledge and many years of experience in this niche asset class enabling us to support Family Offices with all aspects of the ownership, management and crewing of their yacht. More
In a post-pandemic world yachts are recognised as one of the most socially-distanced holiday options where interactions with others are controlled in a way not possible if staying at a resort or on a cruise ship. More
Kirsty Porritt joins Sarnia Yachts as a new Crew Services Officer. More
Some yacht owners fall into a category known as UK resident, non-UK domiciled individuals. More
Knox House Trust has been awarded “Best Aircraft and Yacht Corporate Services Provider 2018 by World Commerce Review (WCR). More
Trust and Corporate Services provider Knox House Trust has been shortlisted for another prestigious Citywealth industry award. Knox House Trust (“KHT”) is delighted to announce that it has been shortlisted for the prestigious Citywealth Magic Circle Awards, as “Trust Company of the Year - Boutique”. The Awards, now in their 12th year, have become a key event for the global wealth industry. They were established to celebrate the available expertise within the wealth sector, and annual... More
Senior representatives from the Knox group of companies to attend 27th edition of Monaco Yacht Show. Knox House Trust (“KHT”) a leading independent trust and corporate service provider is delighted to announce that it will be attending the 27th edition of the Monaco Yacht Show which takes place from 27th to 30th September 2017. A senior team of representatives from across the business including the wider Knox group of companies will attend the show in order to showcase the available ex... More
Quinton International to Reveal Exciting New Things at this year’s Monaco Yacht Show Yacht ownership and management specialists, Quinton International, are pleased to announce that they will be once again attending the prestigious Monaco Yacht Show later this month and are looking forward to the reveal and launch of some exciting new projects. Team Quinton will be led by Chief Strategic Officer, Morris Hazell, at this year’s show who will be joined by John Corteen, Jodie Beecroft,... More
Making the decision to leave the yachting industry and put down roots ashore is one of the hardest things us crew members face at some stage in our careers. More
Trust and Corporate Services provider Knox House Trust has been shortlisted for prestigious Citywealth industry award. Knox House Trust (“KHT”) is delighted to announce that it has been shortlisted in the “Family Office of the Year” category in the 2018 Citywealth International Financial Centre (IFC) Awards. The winners will be announced at a prestigious awards ceremony to be held on 25th January 2018 in London, following the judging process which includes an online open vote for indus... More
Luxury Yacht Group launches live, interactive department descriptions , complimenting the annually anticipated salary guidelines. By Emma Batchelder The salary guidelines are utilized by an array of industry professionals worldwide as a reliable benchmark for yacht crew salaries. This active data is taken from the thousands of live crew profiles who are placed on yachts by Luxury Yacht Group every year. New members joining the industry turn to the websites ‘Department Descriptions’ t... More
Knox House Marine and Aviation is to attend the prestigious European Business Aviation Convention Exhibition (EBACE) in Geneva. Knox House Marine Aviation (“KHMA”), a division of Isle of Man based Knox House Trust Limited, is delighted to announce that James Porter (Business Development Director) will be their representative at the European Business Aviation Convention Exhibition (EBACE), which takes place in Geneva from the 22nd to 24th May 2017. EBACE regularly attracts around... More
The Isle of Man Aircraft Registry (“IOMAR”) has been recently named Best Global Aviation Registry in World Commerce Review Magazine’s 2017 awards. More
The Corporate Jet Investor Conference is one of the flagship events in the business aviation calendar. This year’s conference was held over two days and included presentations, panel events and networking sessions for the 200 or so industry professional attendees. After an interesting and engaging two days of learning, debating and networking the conference closed with the Dealmakers Dinner. The whole conference was hosted at the prestigious Landmark Hotel in London, which was a befitting ... More
In previous years when taxing a vessel, there has been much confusion regarding the interpretation of the wording; ‘ships designed to navigate on high seas’ . In other words, is taxation of said vessel based on the intended purpose, or is it based on how the ship is used? This year the Italian government has planted their flag in the sand, and using the international law of the seas’ (article 3) it has ruled that the definition refers to areas of water which are 12 nautical miles from the... More
Abacus Yachts will be attending the 5th Opportunities in Superyachts conference, a one day event being held at the Grand Hotel Excelsior, Valletta, Malta on 23 February 2017. As in previous editions, this year’s conference will focus on the key issues of concern to leaders in the superyacht industry. Moving from finance to insurance, from tax to corporate ownership and brokerage, discussing superyacht chartering, marinas, regulation, safety and security, the conference will once again brin... More
Abacus Aviation is pleased to announce its attendance at the annual Opportunities in Business Jets Conference which will take place on the 22 February 2017 at the Grand Hotel Excelsior, Valletta, Malta. The conference, which is being organised in conjunction with Quaynote Communications, will provide an excellent opportunity to meet and discuss current issues within the business aviation industry. Now in its 5th year, Opportunities in Business Jets will once again bring senior aviation exe... More
Retention of title (or “ROT”) clauses are designed to operate so that, if a buyer does not pay for the goods it receives, then it has to return them. So far so good, but what happens if the goods cannot be returned? What if a buyer has taken delivery of a supplier’s goods and then, before payment is made or falls due, sells them on? This issue is of particular relevance in the context of superyacht refit/repair projects. Suppliers are aware that certain yards are finding market conditions ... More
One of the most established conferences in the superyacht calendar took place in Amsterdam from 14 – 16 November 2016. The event attracted industry professionals such as shipyards, brokers, service providers, captains, designers, financiers and buyers to take part in workshops, conferences and networking, all under one roof. This focus of skills and energy from the leaders in their fields continues to constantly take the industry forward by providing quality products and services to the mo... More
Fraser Yachts Announces Winner of Yacht Management Captain of the Year Award Sunday, 6th November, 2016, Fort Lauderdale Fraser Yachts, the world’s leading full service yachting company, is delighted to announce the winner of the second annual Yacht Management Captain of the Year Award. The award was presented at the Fraser Yachts Dockside Client Soirée on November 4th, held at the Fraser Yachts display at the Fort Lauderdale International Boat Show. For over fifteen years Fraser... More
@import url(http://www.superyachtnews.com/isadmin/CuteEditor_Files/Style/SyntaxHighlighter.css); @import url(http://www.superyachtnews.com/isadmin/CuteEditor_Files/Style/SyntaxHighlighter.css); @import url(http://www.superyachtnews.com/isadmin/CuteEditor_Files/Style/SyntaxHighlighter.css); @import url(http://www.superyachtnews.com/isadmin/CuteEditor_Files/Style/SyntaxHighlighter.css); ISSGMT Fort Lauderdale’s leading marine travel management company is delighted to be a global p... More
The curtain has closed on the 2016 Monaco Yacht Show (MYS). On display were over 120 superyachts along with more than 500 exhibitors from the superyacht industry in a warm and sunny Port Hercules in Monaco. The Isle of Man Ship Registry together with the Isle of Man Superyacht Forum exhibited at the event again this year, hosting a reception on the stand during the first evening. As a member of the Superyacht Forum, Abacus Trust Company, along with a handful of others, sponsored the Isl... More
Local fiduciary and fund services specialist group, Abacus, are pleased to announce their attendance at the Global Superyacht Forum 2016 (‘GSF’). Now one of the largest and most important meetings for business leaders in the Superyacht industry, GFS is to be held in Amsterdam from 14-16 November 2016. The annual event organised by Superyacht Events brings together over 500 industry leaders to analyse and explore the current status of the Superyacht arena. It will provide focussed discus... More
Abacus Yachts will be attending the 26th annual Monaco Yacht Show to be held at Port Hercules, Monaco, from 28 September to 1 October 2016. Abacus will be available to discuss the benefits of using the Isle of Man or Malta over other yachting jurisdictions for the purpose of yacht ownership and registration. The Monaco Yacht Show is a must-attend event for all private yacht owners, prospective yacht buyers and decision-makers from leading companies in the yachting and luxury asset sectors.... More
Representatives from Quinton will highlight the importance of carefully structured ownership and effective yacht management at this year’s Monaco Yacht Show. Professional services firm, Quinton, with offices in Malta and the Isle of Man, will be exhibiting at the prestigious Monaco Yacht Show this September where they will be highlighting the importance of establishing effective and carefully managed ownership structures for private and corporate vessels and explaining how using the ... More
A yacht expresses your personality. It is a lifestyle mirror. It must be able to offer an unforgettable experience to you and your family. When cleaving the water or when anchored in a bay, its details will make it recognisable, giving you an amazing experience. As a yacht is a significant investment made up of time, effort and money; placing it in a carefully structured entity can offer a number of benefits, and a range of superior quality services. A yacht means freedom, being able to le... More
The 6th annual Isle of Man Aviation Conference took place at the Isle of Man’s prestigious Villa Marina on Thursday 23 June 2016. The conference was attended by approximately 140 aviation professionals from the Isle of Man, UK, Europe, USA and Russia. The attendees enjoyed a day of lively debate and talks on such topics as; an update on the Isle of Man Aircraft Registry, VAT and Customs issues, ownership solutions using the Isle of Man, Part NCC and Regulation. Trust Manager, John-Micha... More
AeroPodium will present the 5th Annual Mediterranean Business Aviation Summit on 30 June 2016 in Malta, supported by MBAA – Malta Business Aviation Association. The platform for manufacturers and operators as well as any organization interested in the Mediterranean market will explore all aspects affecting the future of this industry. It will be an interesting opportunity to debate the future of this Industry, learn about the latest developments and network with leading experts in the regi... More
The Greek parliament has approved a 1% hike in VAT, effective from 1 June. This increase will see the standard rate of VAT go from 23% to 24%. The rise is expected to generate between €400m and €500m, and will help meet a gap in the 2017-18 budget forecast. It will also help avoid a potential VAT rise in domestic electricity, water and private education Financial analysts have warned that the VAT increase is likely to have a depressing effect on the Greek economy as it will negatively affe... More
Client Services Manager, Samantha Snow from our Malta office, represented Abacus at the Malta Institute of Management Annual Yacht and Superyacht Symposium, held in Malta on 9 June, which is now in its second year. The purpose of the symposium was to highlight and discuss the strengths of the Maltese superyacht market, how the industry benefits the local economy and to explore the industries growth potential, threats and weaknesses. The symposium was attended and addressed by prominent ... More
Abacus Aviation will be attending the 6th annual Isle of Man Aviation Conference on Thursday 23 June 2016, with the aim to promote the benefits of using the Isle of Man over other aviation jurisdictions for the purpose of aircraft ownership and registration. The Isle of Man Aviation Conference is a must-attend for all business aviation industry professionals directly involved in the operation, regulation, financing and ownership of global business jets, and a show case for the Isle of Man ... More
The Malta Institute of Management will organise on 9th June the MIM Yacht Super Yacht Symposium in Malta. Focused on the maritime sector, the symposium will offer a complete overview of the recent challenges and developments in the Industry. As an active member in the European Management Association, the Malta Institute of Management was founded in Malta in 1964 and has long been a pioneer in the management development field in the Island. It runs a wide range of management education and... More
The European Business Aviation Convention and Exhibition (EBACE) is the premier annual event for business aviation and this was the second year that Abacus Aviation exhibited at this prestigious event. Over 450 exhibitors represented over 40 countries and visitors to the event represented more than 100 countries. The static display featured a wide range of 60 aircraft on the tarmac of Geneva International Airport adjacent to the main arena for exhibitors, the Palexpo. The total footprint o... More
Whether for corporate, pleasure or commercial use, an aircraft is a significant investment made up of time, effort and money. Abacus Aviation can assist with the diverse requirements essential for effective ownership, planning and operation of an aircraft, our tax efficient ownership structures are tailored to each client’s individual needs and requirements. Abacus is one of the longest established and reputable service providers on the Isle of Man, our group has established a track rec... More
A yacht is a significant investment consisting of time, effort and money: placing it in a carefully structured ownership entity can offer a number of benefits, including potential tax and VAT savings. The decision on where to register your yacht will be driven by where and when you intend to use your vessel. Selecting the right jurisdiction is imperative and with so many registers available, each offering different opportunities, the decision can often be difficult and confusing. The Is... More
The Isle of Man Superyacht Forum exhibited at the London Yacht Jet and Prestige Car Show for the second year running at Old Billingsgate, London from 4-6 May 2016. This was the shows second year and it was clear that it had grown in stature as an event with more quality exhibitors and visitors. London is a key element of any wealthy individuals’, and their families’, lifestyle and calendar, therefore a show of this nature is befitting of the city’s allure. London is also the leading financ... More
Having recently attended the Superyacht Fiscal management meeting in Barcelona it was quite apparent from the conversations and discussions around me that there is still a huge amount of uncertainty around the tax and legal rules relating to chartering activities in Spain. Based on my observations it seems that one of the biggest difficulties people face when determining what rules are applicable is that there still exists different rules for each region in Spain. By this I mean that rules... More
Samantha (Sam) Snow will be representing Abacus Yachts at the Superyacht Fiscal 2016, an important conference on the yachting industry calendar, being held in Barcelona, Spain on 26 April. Superyacht Fiscal is a highly focused one-day conference where delegates explore key topics and subjects that directly affect the management and operation of superyachts. Aimed at industry experts, the event will focus on a range of tax, law, insurance, safety, security, communications, regulations and f... More
Abacus will be attending the 2nd London Yacht, Jet Prestige Car Show, being held at Old Billingsgate and St Katharine Docks in the City of London on 4-6 May 2016. The event, which made its debut last year, is an exclusive event and the only London event of its type, where the world’s top companies involved with superyachts, prestige cars, private jets, helicopters and designer and luxury goods will be giving all that attend an enjoyable insight into this exclusive world. With an in-wa... More
It might be that I am just getting old (no comments please!) but having recently attended a number of yachting related conferences where there was much talk about Brexit and how it might affect the industry, all I could think was…. In times gone, I remember when we had duty-free at airports (even for EU travel), how EU legislation didn’t really impact our daily life in the UK and how borders were still borders. We seemed to get along OK then so what are the difficulties posed by Brexit now? ... More
The past few years have seen numerous published articles talk about Malta being the number one EU destination for maritime excellence. Many of these articles concentrate on the niche area of what makes Malta advantageous for commercial and pleasure yachting, so in this article I thought it would be both interesting and useful to pull together some of the key details into one place to allow readers to get an overall feel of what Malta (as a maritime jurisdiction) is all about – particularly fr... More
Bordered by three continents and twenty two countries it is easy to understand why so many people choose to cruise around the Med’s hotspots. However, there is one thorny issue that I am sure everyone would agree can burst the so called ‘happy bubble’; clarity of regulatory requirements and in particular that dreaded word….VAT. Notwithstanding the fact that yacht builders, owners, managers and brokers are having to continuously deal with the exact implications of the ever developing Mariti... More
Recently published figures have shown that the Malta ship registry is growing from strength to strength. At the beginning of September 2015 the total number of mercantile vessels registered in Malta was 7,109, having a total gross tonnage of over 62 million. A comparison of the figures year on year shows a total of 485 vessels have registered with the Malta ship register so far in 2015. This ranks Malta’s ship registry as the 6th largest in the world, and number one within the European ... More
As part of their ongoing plans to strengthen their yacht proposition and expand their team in Malta, leading fiduciary and fund services group, Abacus, are pleased to announce the appointment of VAT Specialist, Samantha Snow. Ms. Snow has over 15 years’ experience specialising in VAT and Indirect Tax matters, having worked with domestic and international clients across a diverse range of sectors including the Yachting, Remote Gaming, Financial Services and Property and Construction industr... More
While always a special event, the Monaco Yacht Show was particularly memorable for Martine Jacques, who was the lucky winner of the ISSGMT rugby World Cup raffle. Martine, who is the chief stewardess of SY Melek was presented the tickets by Tim Davey, President of ISSGMT and Laurence Carlier, Manager of the private yacht division. Martine, overwhelmed by the news, is now looking forward to heading to Twickenham Stadium on Oct 3 for the England vs. Australia game . She will have no problem arr... More
Rosemont Yacht Management receives their first Flag Administration Document of Compliance (DOC) Rosemont Yacht Management received their first Flag Administration Document of Compliance (DOC) last month permitting the management of Cayman Islands registered commercial yachts over 500 GT in accordance with the ISM Code. Three further DOCs will be sought before the end of September and the Rosemont Yacht Management team are anticipating a busy month ahead. Many months of development of a bes... More
As the annual prestigious Monaco Yacht Show returns to Port Hercule, Monaco next month, so will representatives from Abacus Yachts who are currently preparing for their return voyage to Monaco where they plan to promote the opportunities and benefits of established maritime jurisdictions such as the Isle of Man and Malta, together with the importance and benefits of effective yacht ownership, registration and administration. Paul Swindale and John-Michael McCann will be actively meeting wi... More
Fiduciary, fund and professional services provider, Abacus, are pleased to announce the launch of their new website as part of their continued efforts to develop the promotion of the Abacus brand and its service propositions among its key industries and target markets. The new and improved www.abacusiom.com is fully optimised for use on all devices and offers users a number of new features and enhancements over its former version. New features include a resource library where users can a... More
Sealogical is a yacht management platform, widely regarded as having transformed the yacht management industry. Used by Y.CO since 2008, it has recently been launched as a standalone service for the sub 500GT market. Peel, what is your background… why yachting software? Growing up, my father was a yacht broker and manager, so I was always either on or around boats. Every summer holiday was spent on a boat he would charter from a client. Back in 2000, I developed a web software business... More
Abacus Aviation will be exhibiting at the premier business aviation event, EBACE 2015 (European Business Aviation Convention) next month, as part of their ongoing initiative to promote the importance and benefits of luxury asset structuring. Recognised as the annual meeting place for the European business aviation community, EBACE is jointly hosted by two of the world’s leading associations in the business aviation industry, the European Business Aviation Association (‘EBAA’) and the Natio... More
Representatives from yacht ownership specialists, Abacus Yachts, are set to continue their voyage in promoting the importance and benefits of effective structuring for luxury assets, during a visit to Monaco at the end of this month. Further to their attendance at the Opportunities in Superyachts and Business Jets events recently held in Malta as well as this week’s London Yacht Jet Prestige Car Show in London, Paul Kneen and Paul Swindale will represent Abacus Yachts; part of the leadin... More
Following his attendance at the recent Opportunities in Superyachts conference in Malta, Abacus' Paul Swindale summarises the key messages and discussion points that came out of the event in respect of the current state of the yachting sector. "Sitting on the outbound BA flight from London Gatwick to Malta, and doing my pre event reading I noticed the word “opportunities” in the title of the conference and got to thinking that Hughie Green might be the host for the event…….maybe even with... More
Don’t walk the plank of foreign exchange without checking your options first. There’s no need to be tied to your bank, when Currencies Direct you can save up to 5% on your exchange As a proud member of Horizons, Currencies Direct works with yachting professionals to assist in helping them to achieve their financial goals through money saving. Our bank-beating rates, personalised one-to-one service and preferential rates for all Horizons clients are all reasons why Currencies Dire... More
Horizons will help you create financial stability throughout your yachting careerA bespoke team of professional advisers who understand the unique elements involved in the superyacht industry have teamed up to create a dedicated suite of products to help your money work just as hard as you do.The team deliver free on board consultations for captains and crew and offer a wide range of solutions under one roof. The main products are; International Bank Accounts, Currency Exchange, Financial Pla... More
