Yacht to be bought by a VAT-registered maritime company;
Yacht to be registered under a permanent merchant statute;
Yacht to be permanently crewed according a safe manning emined by the Flag state.
The VAT- exemption applicable to the acquisition of yacht has to be qualified as precarious and as such requiring a strict discipline in the planning of the operation of the yacht as in the reporting to the local VAT –authorities.
So this VAT- regime should only be applied to yachts (1) over 24m waterline, (2) permanently crewed and (3) foreseen for at least the two first years to be operated in international voyages.
