The brand new 2016 Sunseeker 155 model named motor yacht PRINCESS AVK has been launched and her experienced charter-friendly crew and owner are keen to secure a South of France yacht charter right out of the gate.
Having great success with the owner’s first charter yacht, the 40 meter Sunseeker yacht Princess K, the team at 1-800 Yacht Charters could barely contain their excitement, awaiting the launch of this newest “Princess.”
“Last summer, as the conclusion of a super-successful charter onboard Princess K, Captain Julian Sincock informed us that his boss was quietly building a brand new and larger Sunseeker, and was eager for us to promote her for charter upon her launch,” reports Jana Sheeder, President of 1-800 Yacht Charters. “We immediately spread the word to our preferred clients and set up an online brochure.”
This Sunseeker 155 is the largest model built to date by the British shipbuilder. “Mega yacht PRINCESS AVK is prepared to take her place next to her sister-ship, the Sunseeker yacht BLUSH as the two highest profile tri-deck charter yachts in the 45 to 50 meter size category,” says Sheeder. “Their contemporary styling is rivaled by no other builder, with the possible exception of the Dutch-built Heesen yachts.”
In the water for less than a month, the yacht has already secured bookings for 17-24 July (Cannes – Ibiza) and 01-21 August (Ibiza – Cannes). Yes, you read that correctly – she CAN legally go to Spain for Balearic islands yacht charter – the yacht is fully-licensed for Spanish waters – and will be one of the largest yachts legally available for charter in Spain this summer.
Captain Sincock, however, is itching to get started sooner, and the yacht and his team are ready and in position in the South of France to accept a Monaco Historic Grand Prix charter or a Cannes Film Festival charter in May.
At 47.24 meters (154 feet 11 inches), the yacht offers accommodations for 12 guests in 6 cabins including an ample full beam master, two VIP double staterooms and three additional cabins that easily convert from twins to doubles offering greater flexibility during charter. The master and VIP cabins boast floor to ceiling windows, giving a new meaning to a “room with a view.”
The unmatched connection with the sea is evident with balconies unfurling from either side of the main deck saloon, and French doors in the skylounge open onto a fold-down terrace. The result is a soothing beach house vibe, where the lines between indoor and outdoor spaces are beautifully blurred.
The yacht is the ideal platform for a corporate event – like hosting a film festival party or watching the race cars scream by during the Grand Prix. The main aft deck features a relaxed seating area with coffee tables – perfect for relaxing at cocktail hour. A glamorous bar and dining area are tucked under the radar arch of the open-air sun deck, and a spa tub is forward, allowing for unparalleled views while moored stern-to along the quay in Cannes or Monaco.
Come enjoy the superyacht experience on what Sheeder calls, “The hottest superyacht on the Med charter market this summer!”
Rates from €225,000 per week. For further information, contact the charter team at 1-800 Yacht Charters right away. HURRY! Her calendar will book up completely!
This entry was posted in Special Offers Yacht of the Week and tagged Heesen, Jana Sheeder, Cannes Film Festival, president of 1-800 Yacht Charters, Princess AVK, Sunseeker, Blush, yacht charter special events, Monaco Grand Prix yacht charter, yacht charter Balearics, yacht charter Spain, Princess K, Which superyachts are legal to charter in Spain?Posted on
If Spain is hoping to entice more private luxury yacht charter business in the Balearic Islands, they have a funny way of showing it.
Regular readers of our blog might recall the controversy surrounding Spain’s 13.7% yacht charter Matriculation Tax (blog September 14, 2013). Heavy lobbying by the Spanish yachting and marina industries saw that tax removed. Spain, however, is still imposing far greater taxes on charters than fellow European Union countries like France, Italy and Malta.
Case in point – a specific yacht that is legal for charter in both Spain and France will incur TWICE as much VAT liability in Spain, even though the tax percentages are nearly identical!
A yacht charter example:
Formula 1’s Eddie Jordan often keeps his Sunseeker 155 motor yacht BLUSH in the Balearic Islands for the summer charter season. When there is demand, the yacht can easily reposition to the South of France for clients who prefer a French yacht charter vacation, even dipping into the coastal areas of Italy and nearby islands of Sardinia and Corsica. The weekly charter rate remains the same between both destinations (€220,000 per week in high season), and the VAT rates are almost identical: 20% in France and 21% in Spain.
A client who charters Sunseeker 155 yacht BLUSH in Ibiza, however, will see a tax of €46,200 on his charter agreement, while a client chartering the yacht in Cannes, will incur a charge of just €22,000.
If you’re the client taking the yacht in Spain, one word comes to mind (well, maybe a few words…), most notably, “OUCH!”
So what is the explanation? Why the drastic difference if the tax rates are nearly identical? The answer can be found in Article 58 of European Union Council Directive 2006/112/EC.
We’ll let our company President, Jana Sheeder, explain why this is the case:
“The European Union directive on VAT, as it relates to private yacht charter revenue, has a clause entitled, ‘criterion of effective use and enjoyment.’ This clause allows member states to implement a VAT reduction scheme. However, it is not compulsory. Popular cruising destinations like France, Italy, and Malta all take advantage of this opportunity to reduce VAT. Unfortunately, Spain does not.”
In our example above, the client who charters motor yacht BLUSH in France, ends up with an effective tax rate of 10%. The client who charters this yacht in Spain pays the full rate of 21%.
Note – the tax savings only kicks in when the chartered yacht cruises beyond 12 nautical miles – in essence, into international waters and out of the borders of the European Union. This is a simple task and almost all charter yacht captains will implement this strategy in order to save the charter customer 50% of the VAT rate. However, even if a yacht in Spain sails beyond the 12 nautical mile boundary, the Spanish government still insists on collecting the full VAT fee.
The Member States of the European Union include:
For those readers who enjoy the technical details, here is the verbiage of the directive:
In order to avoid double taxation, non-taxation or distortion of competition, Member States may, with regard to the supply of the services referred to in Article 56(1) and with regard to the hiring out of means of transport:
Alex Chumillas, the director of Tax Marine explains the directive and the result of Spain’s decision: “As is clearly defined in paragraph (a), the provision seeks to minimise VAT taxation applicable to certain services, among them the hiring out of means of transport (for instance charter),” “However, the provision has not been implemented in Spain. Therefore, chartering in Spain is subject to a flat VAT rate which does not benefit from any reduction, even when sailing beyond 12 nautical miles.”
Paragraph (b) allows Spain to levy VAT charges on certain services that have been provided outside of Spain – if the services are enjoyed inside of Spain. Let’s say a charter starts in Gibraltar. The yacht will need to register for VAT and pay VAT on the length of the charter in Spain (and of course, pass then expense on to the charter customer).
By choosing to implement paragraph (b) only, the Spanish government has chosen to only apply the more burdensome element of the directive. Is this the right thing to do to people wanting to experience travel in your country?
Like they did with the repeal of the oppressive matriculation tax in 2013, let’s hope the legislators in Spain come to realize a reduction in VAT will make the Ibiza yacht charter market competitive with neighboring France and the rest of the European Union states that derive strong financial benefits from the private luxury yacht charter industry.
VISIT https://www.1800yachtcharters.com/yacht-charter-monaco/ for a sampling of private yachts for hire in the Balearic Islands and throughout the Mediterranean this summer, courtesy of 1-800 Yacht Charters.We will be happy to create The Superyacht Experience for you.
This entry was posted in Destinations News and tagged Jana Sheeder, president of 1-800 Yacht Charters, Sunseeker, Spain yacht charter, Ibiza yacht charter, Blush, Corsica, Sardinia, South of France, VAT, Balearic Islands, yacht charter matriculation tax, European Union Council Directive, Member States, Article 56(1), Tax MarinePosted on