What is the best yacht registration country for you?<\/p>\n\n\n\n
Simply purchasing a yacht and owning a passport does not allow you to sail boundlessly. That said, you have options when it comes to yacht sales. The better you geographically plan your purchase, the better foresight you\u2019ll have when it comes to future travel plans.<\/p>\n\n\n\n
If all of this seems entirely alien to you, don\u2019t worry. We\u2019ve broken down exactly what you\u2019ll need to know to begin these considerations from an informed position. A summer on a yacht of your own is not so far away!<\/p>\n\n\n\n
Where you choose to register your yacht has more to do with legal and regulatory factors than location alone. Your \u201cflag country\u201d determines protocol when sailing in your country of purchase and abroad.<\/p>\n\n\n\n
When making yacht flag comparisons, be sure to know your own primary values well. Purchasing a yacht and deciding jurisdiction is akin to buying a house; there are some elements that are make or break for you, and some you\u2019ll have to sacrifice.<\/p>\n\n\n\n
Our advice: take a second look at that list above. Which of these are you willing to compromise on? How do your answers to each bullet point stack up with your list of target countries to register in?<\/p>\n\n\n\n
Of course, each flag country has its own set of meanings, regulations, costs, and laws. A \u201cflag country\u201d or \u201cflag state<\/a>\u201d is the national jurisdiction under which you register your vessel. It is referred to as a \u201cflag\u201d state because this means flying that country\u2019s respective flag on your craft as proof of your registration. This is maritime law,<\/a> and some countries you travel to (under specific conditions) will require you to fly theirs as well.<\/p>\n\n\n\n The flag state is responsible for inspecting and authorising their registered vessels. You are obliged to pay taxes, fees, and VAT to your flag state, as well as follow their policies. <\/p>\n\n\n\n Fortunately, the details for 28 maritime authorities are in one place. The Paris Memorandum of Port State Control<\/a> (PMoU) is a joint agreement between these flag states on the conditions of Port State Control.<\/p>\n\n\n\n Taxes can be a big draw of some flag states, like the Cayman Islands (that sits outside of many tax jurisdictions and doesn\u2019t require VAT). Some countries have recurring fees, like Greece, which requires TEPAI paid once a month (based on the size of your vessel).<\/p>\n\n\n\n You\u2019ll also need to know the level of flag prestige your vessel\u2019s registration country comes with. The PMoU publishes a list of flag qualities, known as the \u201cWhite, Grey, and Black<\/a>\u201d list. This details the level of risk each flag carries.<\/p>\n\n\n\n The factors that determine which colour is assigned to each flag are the number of inspections and detentions within a three year period. White-listed flags are low risk, Grey-listed have a higher risk, and Black-listed flags are subject to high scrutiny.<\/p>\n\n\n\n The countries involved in the PMoU<\/a> are beholden to three types of inspections:<\/p>\n\n\n\n More information can be found on the PMoU website<\/a>.<\/p>\n\n\n\n Flag prestige, taxes, costs, laws, size, and purpose of your vessel can all play an active role in which jurisdiction you choose to register in.<\/p>\n\n\n\n When putting flags in comparison with one another, you may find cost vs. convenience to be a larger consideration than you may have anticipated. The Isle of Man, for instance, has great stability, fees, and international possibilities. However, it doesn\u2019t follow EU VAT rules (instead UK), which can make EU travel more of a hassle than countries like Greece or Malta.<\/p>\n\n\n\n If you\u2019re looking to dock in Greece, why not take a look at our new<\/a> and used<\/a> yacht range? We help you through successful registration, championing transparency across the whole purchasing process. A reputable yacht broker like One Yacht is the best way to approach the sometimes daunting task of yacht ownership. <\/p>\n\n\n\n Peruse our catalogue today and sail tomorrow!<\/p>\n\n\n\n <\/p>","protected":false},"excerpt":{"rendered":" Flag prestige, taxes, costs, laws, size, and purpose of your vessel can all play an active role in which jurisdiction you choose to register in.<\/p>","protected":false},"author":3,"featured_media":27764,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[245],"tags":[],"class_list":["post-27762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guides"],"acf":[],"_links":{"self":[{"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/posts\/27762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/comments?post=27762"}],"version-history":[{"count":2,"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/posts\/27762\/revisions"}],"predecessor-version":[{"id":27765,"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/posts\/27762\/revisions\/27765"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/media\/27764"}],"wp:attachment":[{"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/media?parent=27762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/categories?post=27762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theoneyacht.com\/el\/wp-json\/wp\/v2\/tags?post=27762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Tax & Practical Considerations<\/strong><\/h2>\n\n\n\n
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Which Country Should You Register in?<\/strong><\/h2>\n\n\n\n