Legal Consulting – Legal Advice on the Purchase / Sales Contract,
Contract Management and Vessel Registration.
Purchasing a Yacht/Ship from outside or within a foreign country, whether in or outside of the EU is often associated with considerable difficulties and problems. You are often required to create unusual and specialized sales documents and attachments as the rules, regulations and requirements vary considerably from Country to Country and different Flag States for example; Bill of Sale, Memorandum of Agreement, Certificate of Deletion, Hand Over and Delivery Protocols, just to name a few.
Extensive research is required to ascertain the true ownership of the vessel (chain of ownership), which is necessary to secure the transferal of ownership.
After the successful acquisition of the vessel it is entered into the Register of Ships in the respective EU Country or other International Registers. The requirements for payment of Importation Tax and/or your respective tax liability on the ownership of the vessel, also needs to be clarified.
It often makes good financial sense to establish a Local Representative Company into which you register the vessel. There are distinct advantages to this and various ways to optimize the vessels value and to assist in reducing the importation tax rate for example, Malta leasing.
Our Professional team offer advice and assistance on all aspects of the purchase or sale of a vessel including, proof of all documentation, ownership related searches, documentation production, secure transfer of funds and assets. Including specialist advice on the importation and registration of any vessel.
Malta Yacht Experts Ltd. are recognized surveyors and experts who are officially authorized to carry out vessel valuations for importation and taxation purposes.
If you find yourself involved in a position of dis-agreement after an accident, or litigation and are having to deal with the Insurance companies and the counterparties to clarify as to whom was at fault, we would be happy to assist you, in providing you with a detailed report that can be used in a court of law. We can also act as an expert witness and provide translations of the report in many different languages.