Sardinia Luxury Tax on Mediterranean Yacht Charter Vessels Abolished

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Anyone who has booked a Benetti yacht charter or a Feadship yacht charter vacation knows that charter agents heavily promote trip cancellation insurance. For mega yacht charter agents, trip cancellation insurance is a substantial profit point. Commissions of 20% of the insurance cost for selling this product for a Feadship yacht charter or a Benetti yacht charter are common.
Charter brokers often offer this coverage to their Caribbean yacht charter customers who fear trip delays due to summer tropical weather disturbances. Mediterranean yacht charter customers also hear the pitch to purchase this coverage, as concerns for lost baggage are common with long, international flights.
Putting aside the fact that someone “profits” from the sale of these policies, a luxury yacht charter customer should give serious consideration to this coverage option. Whether you rent a private yacht, a megayacht, or a superyacht, for a Caribbean yacht charter or elsewhere, or whether you plan crewed catamaran charters or sail boat charters – the facts remain the same: you are spending a lot of money and you may wish to protect your investment!
There are hundreds of circumstances that could cause you to cancel your trip, return home early, or force you to seek emergency medical treatment while traveling. What if you booked a MIPIM yacht or a Monaco Grand Prix yacht for the yearly event in Cannes and Monte Carlo, and suddenly you could not attend?
To demonstrate the importance of purchasing travel insurance, and emergency travel services, here are 10 common examples of what could go wrong.
7. BANKRUPTCY OF TOUR OPERATOR — Your luxury sailing charter tour operator goes bankrupt. Who will pay for your non-refundable expenses? Who will help get you to your destination?
8. MEDICAL HELP NEEDED — You’re walking down a street in Rio and twist your ankle. Who can help you find an English-speaking physician?
This entry was posted in News Special Events Frequently Asked Questions and tagged lost luggage, Mediterranean yacht charter, Monaco Grand Prix, Feadship yacht charter, caribbean yacht charter, Benetti, yacht charter Mediterranean, Cannes yacht charter, private luxury yacht charter, travel insurance, MIPIM, Frequently Asked Questions, trip cancellation insurance, Feadship
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Surprisingly, this question often comes up when our clients return from a memorable luxury yacht charter vacation.
Charter clients seem mesmerized by The Superyacht Experience.™ We’re thrilled! : ) Indeed, it’s hard to imagine any other vacation on par with yachting. It’s an experience where the superyacht serves as a platform for an eco-friendly adventure. Most of all, it’s a chance to reconnect with family and friends, embrace diverse cultures, and rejuvenate mind, body, and spirit.
But is it a “bridge too far” to transition from luxury yacht charter guest to superyacht owner? Actually, it’s fairly common for charterers to become superyacht owners.
Some people purchase a specific automobile make and model after renting one for a long trip. They like how the car looks and handles. Of course, they celebrate how the vehicle whisked them to a new destination, in style and comfort.
Similarly, charterers become enthralled with the creature comforts of a yacht. Certainly, the idea of arriving in an exotic destination on a floating villa is pretty darn appealing.
From there, the intrigue and hunger continue to grow. After all, why limit your family’s enjoyment of cruising to just one or two weeks a year?
The yachting lifestyle is addicting!
WE AT 1-800 YACHTCHARTERS CAN HELP YOU CHARTER OR PURCHASE A YACHT! You win with us because a portion of everything that we earn goes to the charity of your choice! We know the yachts. In addition, we know management. We charter these yachts. Our company knows Captains and professional crew. Most important, we know clients! YOU are important to us. We LOVE our job. 1-800 Yacht Charters cares about the ocean. We care about YOU. Our company works to make a difference every day. We give back. We’d love to be on your team!
Let’s take a look at three, popular superyacht charter vessels currently available for hire, and also available for purchase.
We never quite understood the meaning of Quantum of Solace as the title of the James Bond film. It doesn’t matter – naming superyachts in homage to Bond films is very popular. There are many James Bond boats as we like to call them. For instance, Octopussy, Skyfall, Casino Royale, and others.
There is even a superyacht named after the 2008 Bond film, Motoryacht QUANTUM OF SOLACE. The 72.6m superyacht was built in 2012 and refit in 2017. Here’s our description of the yacht on our charter website.
“Award-winning Proteksan Turquoise motor yacht QUANTUM OF SOLACE is noteworthy for a few reasons. Specifically, her spectacular lines and enormous volume. Charterers enjoy many entertainment and relaxation areas. For instance, her salons, bars, decks, and terraces. She is a Turkish build. The yacht features both interior and exterior design by H2 Yacht Design. QUANTUM OF SOLACE accommodates up to 12 guests in seven beautiful cabins.”
Her weekly charter rate is €560,000.
Her listed purchase price is $58,000,000.
Finally, a yacht with a name we can understand! Well…not really. We cheated and looked up the meaning. In numerology, the number 11 is considered a master number, and it signifies enlightenment. If you pair the number with itself, 11.11, it represents a message from the universe to become aware.
Cosmically, we’ve got a ways to go. However, even we’re aware that Benetti yacht 11.11 is stunning. Here’s a little history from our website on how this yacht came to be.
“Benetti yacht 11.11 is a winner from the 2016 World Superyacht Awards. She is only the second plumb-bowed boat built by the fabled Italian yard. This beautiful lady was originally commissioned to look like a Russian Czar’s palace. Her first owner walked away when the yacht was just 40% complete. A new owner stepped in to transform the yacht into an award-winning monochromatic masterpiece. What a fortunate owner! The current trend is to build yachts with hard, minimalistic edges. This yacht’s main living areas onboard yacht 11.11 offer suppleness and comfort.”
Here is a link to our video by company President, Jana Sheeder, for superyacht 11-11. Enjoy!
The weekly charter rate is €650,000.
The listed purchase price is €59,500,000.
Back in grade school, we were taught Pluto is the ninth planet in the solar system. Now, it’s referred to as a dwarf planet. It’s ok, Pluto – we‘ll still call you the ninth planet!
Avoiding the naming controversy is the 73.2-meter superyacht PLANET NINE. Forget outer space – there’s plenty to explore on earth. This yacht is built for ocean adventure. Our website notes describe this superyacht as a
“…Long-range high-quality luxury explorer yacht with serious go anywhere sea keeping characteristics, heavy build specification and suitable for sailing in ice conditions in accordance with its class notation. Dynamic positioning and suitability for global cruising. Commercially approved helideck suitable for an Augusta Grande dimensionally or larger helicopter in weight, up to 8 tons, with enclosed below-deck hangar.”
The weekly charter rate is €650,000.
The listed purchase price is €85,000,000.
Are you ready to charter or purchase a yacht? Please count on us. Let’s make a difference together. We created to term and the concept, The Superyacht Experience(tm), so we KNOW yachts, and we KNOW what you want to experience! Call, text, WhatsApp, snail mail, or email us today! Put us to work on your behalf! We stand ready.
This entry was posted in Frequently Asked Questions Educational Yacht Charter News Video Yacht of the Week and tagged luxury yacht charter, benetti yacht charter, yacht purchase, buy a boat, boat rental, yacht for sale, motoryacht charter, charter or buy a yacht, buy a yacht, Charity, Jana Sheeder, Planet Nine, president of 1-800 Yacht Charters, the superyacht experience, 1-800 Yacht Charters, yacht for charter, 11-11, The Superyacht Experience(tm), private luxury yacht charter, Quantum of Solace, yacht sales, James Bond, Planet 9
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Recently, we blogged about the Thai government’s efforts to lift the restrictions that kept superyacht charter vessels away from Thailand. Now that the door has been opened for foreign-flagged yachts. In addition, American charterers and tourists are welcome. Here are some cultural taboos that could save you from being branded an “Ugly American.”
Keep in mind almost 95% of the Thai population is Buddhist. As in much of southeast Asia, there are cultural taboos that non-Buddhists would not know, some of which are considered religiously offensive.
Three things NOT to do on your yacht charter Thailand:
Always use your right hand to pass or receive an object. [Sorry left-handed charterers.]
In conclusion, one of the great joys of a yachting vacation is The Superyacht Experience™. It is the chance to embrace diversity, participate in unique cultural events, and rejuvenate mind, body, and spirit. By avoiding these taboos, think how much more enjoyable your Phuket yacht charter vacation will be. You won’t offend the wonderful people of Thailand, and your mother won’t scold you for putting your feet up on the yacht’s furniture!
For more information on chartering a yacht in Thailand, contact us today. The team at 1-800 Yacht Charters +1.800.922.4824 / toll-free in North America or +1.305.253.7245 stands by to educate and assist you. Feel free to use our convenient online contact form, if you’d rather. #knowbeforeyougo #yachtcharter
This entry was posted in Yacht Charter Destinations Frequently Asked Questions Educational and tagged Taboo, Are the feet sacred in Thailand, Buddhism, Traditions, president of 1-800 Yacht Charters, What to never do, Jana Sheeder, What to always do, 1800yachtcharters, Ugly American, Education, Where did the term, Trivia, come from?, yacht charter Thailand, Is the head sacred in Thailand
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Whether on Instagram, Facebook, YouTube or the web, just about everyone has seen ads for luxury yacht charter vacations. Gourmet meals, white glove service, and Ri¢hie Ri¢h toys are the benchmark of these lavish floating resorts. The essence of The Superyacht Experience™ is a passion for discovery, and a longing to reconnect with family and friends – fueled by a generous budget. We bring you three ways to avoid being ripped off on your yacht charter.
How do you know the rate quoted for a superyacht holiday is legitimate. In specific, not an arbitrary, marked-up price. Further, designed to take advantage of your affluence? Beyond the accuracy of the price, how do you know if it’s a good deal as well?
We have outlined three steps to take to guarantee your charter rate is accurate, fair – and a great value for the money invested. Following these steps will help you avoid price gouging and rip-offs by unscrupulous merchants.
Note: We’ve also included helpful advice from our company President, Jana Sheeder (1-800 Yacht Charters).
First, UNDERSTAND who sets the rate for a yacht for hire.
The first step to ensure you are quoted a legitimate price for your yacht charter adventure is to understand who determines the price. In the world of ultra-luxury yachts available for hire, the charter rate is set by the yacht OWNER. Luxury charter yacht owners typically hire a company referred to as a “Central Agent” to serve as their representative. The central agent (CA) maintains the yacht’s charter calendar, administers the charter paperwork, and collects the charter funds. Many CA’s will offer guidance to an owner to help establish a fair price for charter (often based on comparisons to similar yachts), but ultimately it is the owner who sets the rate, and the CA publishes that rate.
Secondly, CONFIRM the rate quoted is the rate set by the yacht owner.
Luxury yacht owners rarely make themselves or their CA available to the public – preferring to leave the business of chartering in the hands of professional Charter Brokers. These brokers perform much the same role as real estate agents – serving as the go-between for the Buyer (Charterer) and the Seller (Owner). Charter brokers have access to the CA’s and are responsible to confirm rates and date availability with the CA’s.
Once you have narrowed down your options to a specific yacht, ask your charter broker to provide a written cost proposal from the CA – ensuring the rate quoted is the rate established and set by the yacht owner.
“Some charter brokers will balk at the request of a written cost proposal from the CA, fearing the client will attempt to contact the CA directly to secure a better deal. If you sense hesitation on the part of your broker, tell your broker to ‘register’ your name and inquiry with the CA. To do this, send your charter broker a short, written note (via email) naming your broker as your authorized charter representative for the purpose of securing the charter of the specific yacht for specific dates. Your broker then shares that note with the CA and registers you as their client. Now the broker will feel protected and will be more inclined to seek written confirmation from the CA as to authenticity of the rate quoted.”
Thirdly, MAKE an offer!
Once your broker has communicated the published rate to you, and you have verified the rate is accurate, consider making an offer below the published rate. Again, think in terms of the real estate marketplace. Sometimes (but not all of the time), a property owner will accept an offer to purchase his or her real estate for an amount below the published selling price.
Unless you feel the published rate is fantastic, we can’t think of any reason not to ask for a discount! Think the owner is gouging a bit in high season? Ask for a discount. The owner may accept your offer, make a counter-offer, or simply say no. The point is – it’s your money, and you just might end up keeping more of it in your pocket!
“Before you make an offer, ask your broker if they have ever secured a discount from this owner in the past, and how much (%). The answer might surprise you. At the very least, it will help you formulate an offer based on the owner’s prior willingness (or lack thereof) to negotiate below the published rate.”
In conclusion, by following these three steps, you are safer. You ensure the charter rate quoted is not only accurate and fair, but also the best deal available. The Superyacht Experience™ includes honest, ethical advice from a yacht charter company serving discriminating clientele since 1976.
Take the promise of a great rate to a whole new level – only 1-800 Yacht Charters offers a “Best Price Guarantee.”
This entry was posted in Frequently Asked Questions Educational News and tagged written cost proposal, honest advice by yacht charter company, Jana Sheeder, president of 1-800 Yacht Charters, the superyacht experience, How to get best price on a yacht charter, 3 ways to avoid getting ripped off, Make an offer, what is a Central Agent?, Best Price Guarantee
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The yachting industry has long held to the belief that a successful luxury yacht charter vessel can expect 12 weeks of charter business a year. This expectation included both Caribbean yacht charter and Mediterranean yacht charter business.
Excluding the small sail boat charters that dominate the Caribbean market, in the world of megayacht and superyacht vessels, there are about 830 yachts 80 feet and larger available for a luxury yacht charter worldwide. What might be surprising to many is this fact: some 600 of these vessels do no more than 3 or 4 weeks of chartering each year.
Thus, the upcoming Mediterranean yacht charter summer season has a lot riding on it for boat owners and captains who have — perhaps ill-fatedly from the start — factored 12 weeks of megayacht charter business into their calculations.
So what does a 52 week year in the life of a superyacht look like? A recent industry survey breaks it down like this:
*Owner’s personal use – 6 weeks.
*Yard time (for repair and maintenance) and crossing time to reposition (Caribbean to the Mediterranean, etc.) – 26 weeks.
*Undesirable charter dates – 14 weeks
*Actual Possible Charter Time: 14 weeks.
Charter fleet managers believe there is a a realistic goal. In specific, a luxury mega yacht charter vessel is no more than 8 weeks per year…
This entry was posted in Yacht Charter Frequently Asked Questions Educational and tagged year of a superyacht, yard time, Superyacht, Megayacht, yacht owners, How many weeks of charter should a superyacht do per year?, life of a superyacht
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In January we informed our readers of a new Italian yacht tax signed into law in December 2011. The tax is effective May 1, 2012. It assesses a fee for each day a yacht is in service in Italian waters.
Superyacht industry experts, like Jana Sheeder, President of SailAway Yacht Charters and 1-800 Yacht Charters, and others, urged Italian authorities to analyze the economic impact of the pending legislation.
“Our concern was the quest for increased tax revenue might have a far-reaching effect on both the charter industry. In addition, ancillary businesses that support yachting such as marinas, fuel brokers, shipyards, and tourism offices,” said Sheeder. “Even if you exclude charter revenues, support-related industries on their own generate €200,000,000 in annual revenue.”
To their credit – the Italian lawmakers listened.
On Tuesday, February 21, the 10th Commission of the Italian Senate for Industry, Commerce, and Tourism passed the Grillo and Cutrufo amendment to the Italian berth tax legislation. The amendment stipulates the berthing tax will only be applied to Italian citizens who own a vessel, even if the yacht flies a foreign flag. Foreign citizens who own a boat or Mediterranean yacht charter vessel are exempt from this tax, regardless of their length of stay in Italian waters.
Fulvio Luise, President of Federagenti Yacht Division, expressed his satisfaction comments. “The passing of this amendment is an important recognition to the economic impact the yachting industry has in Italy and we look forward to welcoming new and returning megayacht clients to Italian waters this summer.”
Sheeder echoed Luise’s sentiments:
“This amendment will allow Italy to continue to compete on an equal playing field with neighboring countries for the charter sector of the Mediterranean yachting market. We’re hopeful that the Italian yacht charter market will continue to flourish for many more years.”
This entry was posted in Yacht Charter News Frequently Asked Questions Educational and tagged rent a yacht, charter a yacht, Grillo and Cutrufo Yacht Charter Amendment, Federagenti Yacht Division, yacht charter tax, luxury yacht tax, Mediterranean yacht charter, Jana Sheeder, president of 1-800 Yacht Charters, yacht charter Italy
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QUESTION
“I’m planning a 10 day private yacht charter in St. Tropez and the South of France in July. My broker say VAT is 20%. That’s seems a lot. Is there way to not pay this?”
Xavier E, Barcelona, Spain
Answer provided by Jana Sheeder, President 1-800 Yacht Charters:
“The bad news, Xavier, is all charters that take place in a European Union (EU) country are subject to VAT (Value Added Tax). However, we have good news as well – there is a simple, legal strategy that can cut your VAT expense in half.
Instead of paying 20%, this strategy will reduce your VAT to 10% of your base charter fee – a significant savings!
Each EU country can set their own level of VAT on commercial yachts for hire. In France, if the yacht undertakes a coastal cruise in French territorial waters, the VAT is 20% of the base charter fee (the base fee is the cost to rent the yacht before factoring in other running expenses such as food, dockage, etc.). So, for example, if you began your charter in Saint Tropez, and cruised along the Côte d’Azur and concluded your trip in Antibes, you would incur a VAT expense of 20%.MORE INFORMATION ABOUT VAT
However, IF you plan a portion of your charter to cruise in international waters, your legal responsibility for VAT drops to 10% – a savings of 50%!
So how do you do this? Here’s how: When you are planning your itinerary with the yacht’s captain prior to the commencement of your charter, let the captain know that you would like to, “visit a port that requires you to cruise in international waters and beyond the coast of France.”
You could, for example, leave the French coast and cruise to the island of Sardinia. This is approximately a 5-7 hour cruise from the South of France.
Ask your captain to undertake this crossing overnight, while you and your guests are sleeping. Then, when you rise in the morning, you’ll be able to spend a full day, or longer along the coastline of this fabled Italian island before heading back to France.
So there you have it. With a little strategic planning, a slight deviation in your St Tropez yacht charter can result in big savings; possibly thousands of Euros depending upon the cost of your charter.”
Have a question about a yacht charter vacation?
Submit your question to me, and my team will help you.
If we print your question in our blog, we’ll send you a complimentary Eco-tote bag.
Email me at jsheeder@1800yachtcharters.com
Thank you, and keep those questions coming!!!
This entry was posted in Destinations Frequently Asked Questions Educational and tagged Ask The Pro's, Save money on a yacht charter, Tips and tricks, Ask the Yacht Charter Pros, Discounts, VAT value added tax, private yacht charter, Jana Sheeder, 1800yachtcharters, Education
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Looking for a change of scenery? We get it. “Pandemic fatigue” is starting to set in for most of us. Indeed, the idea of escaping the “Covid blues” sounds better and better every day. Covid travel restrictions are important to know.
For many affluent travelers, a holiday luxury yacht charter is very appealing. After all, if you have to practice social-distancing, why not set up camp on a private yacht?
Unfortunately, much of the Caribbean is still imposing harsh restrictions on tourism. For example, mandatory tourist quarantines are in place in the British Virgin Islands. It is the most popular yacht charter destination in the world. We anticipate these restrictions will still be in effect for Christmas and New Year’s Eve.
Thankfully, there is one tropical destination open for business. That is the Bahamas.
Travel restrictions in the Bahamas have relaxed significantly compared to the start of the year. Still, there are strict guidelines for Bahamas yacht charter guests.
Below are guidelines in effect as of November 20, 2020, for the holiday season.
These rules apply to every guest over 10 years old. Each passenger on your yacht must get an RT PCR nasal swab Covid-19 test 5 days or less before arrival. Test results from any other type of COVID-19 test are unacceptable. Passengers under the age of 10 do not need to be tested. All tests must be negative for entering the Bahamas.
Each guest must complete a travel health visa, along with submitting a negative Covid-19 test,. The application is available online. First, go to www.travel.gov.bs. Second, select “International,” and create an account. Fill out your visa information, upload your negative test results, and submit your application. Allow up to 72 hours to receive an approval confirmation. IMPORTANT TO NOTE, you need to print the approval document and bring it with you. You must present the document to Bahamian officials when entering the country.
5 Little Known Facts About The Bahamas
You must opt-in for health insurance when you complete your health visa application. Specifically, you will be covered for any Covid-19 health issues during your time in the Bahamas. For example, the cost of a mandatory rapid antigen test (required on day 5 of your visit) will be covered. You’ll also be covered if you require quarantine (up to $7000) or medical evacuation (up to $50,000). Charter guests staying 4 days or less pay $40 for coverage. Visitors staying more than four days pay $60.
You are required to take this test if you stay in the Bahamas for 5 or more days. You must quarantine aboard your charter yacht while you await the results of the test. Don’t worry, results are typically texted or emailed within 60 minutes. IMPORTANT NOTE, a rapid antigen test is not required if you have no plans to go ashore during your charter.
Charter guests are required to answer an online health questionnaire each day. This survey is used to identify potential Covid-19 symptoms. Any guests who exhibit Covid-19 symptoms during their charter will be required to take a rapid antigen test. Any positive results will require a Covid-19 RT-PCR swab test.
There are rules and requirements to follow when onshore. For example, wearing a face mask is mandatory in public places, except on the beaches. Additionally, social distancing is expected wherever possible in public areas. Finally, be aware that some of the individual islands have evening curfews.
It’s nice to know we can escape to the Bahamas during the holidays. Specifically, since so many restrictions are still in place in our hometowns. As they say, “It’s Better in the Bahamas.” Test it out! Everyone can enjoy a Bahamas yacht charter vacation IF we follow the guidelines listed above.
Jana Sheeder, President of 1-800 Yacht Charters
Jana Sheeder, President and Co-owner of 1-800 Yacht Charters says,
This has been an unsettling year for everyone. You owe it to yourself, friends, and loved ones to appreciate and enjoy the holidays. Relax and reflect upon all that we have, and do. Take time to smell the roses and to express gratitude. Show yourself some love and plan a well-earned vacation. Push away the stress,k and leave the fatigue behind. Welcome mindfulness and wellness. Make memories and celebrate another year of togetherness. Please stay safe, follow the rules, and take Covid-19 prevention seriously. Regardless, please have a WONDERFUL holiday. Love, Jana
This entry was posted in Yacht Charter Caribbean News Special Events Frequently Asked Questions Educational and tagged travel to bahamas, Jana Sheeder, health visa information, travel during covid, president of 1-800 Yacht Charters, how do i get a health visa for travel?, pandemic fatigue, catamaran charter, Covid blues, covid fatique, covid-19 blues, pandemic blues, mindfulness, covid education for yachting, Covid-19, yacht charter Bahamas, covid education for yacht charters, rules for covid, Bahamas, covid travel restrictions, wellness yacht charter, yacht charter rules during pandemic, do children need covid testing, what are covid requirements for yacht charter, who is exempt from covid tests in the bahamas, covid-19 guidelines, Bahamas yacht charter, covid nasal swab test
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