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Tag Archives: Greek yacht charter

Greece Increases VAT — Will Greek Yacht Charters Cost More?

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First the bad news – recent legislation in Greece has led to an increase in the country’s VAT rates.

Now for the good news – the increase is small, and depending upon the duration of your superyacht experience, the “effective rate” should have a minimal effect on most Greek yacht charters this summer.

A new VAT rate of 24% has been announced for Greece, and it will affect all yacht charters commencing on or after June 1st, 2016.  The old rate was 23% – making the maximum increase 1%.

Drawing of magnifying glass with Greek numerical characters and the word VAT underneath

 

While 24% VAT sounds sky-high, don’t fall out of your chair just yet:  there are significant built-in discounts that can reduce the effective VAT rate by up to 60% – depending upon the duration of your charter vacation.

 

 

 

Here’s the math:

 

I)  Charter duration of 3 days or more.

Luxury yacht charter vessels performing international cruises have a discount of 60%.  This makes the effective VAT rate 9.6% (up from 9.2%).

Charter vessels cruises within Greek waters will earn a discount of 50%, setting the effective VAT rate at 12% ( previously 11.5%).

 

II)  Charter duration up to 48 hours.

This is where you get hammered as a charterer for taking a day excursion or a trip shorter than 48 hours.  There is NO discount, regardless of where the vessel cruises.  A full VAT of 24% is due (instead of the previous 23%).

 

Picture of Rhodes Greece with a superyacht cruising by in front of the island

 

 

 

 

 

In summary – avoid short-term charters in Greece if you can.  As long as you can extend your charter beyond 48 hours, the impact of the effective change in VAT is less than 1%.  Mykonos and Santorini here we come – Opa!!!

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For information about renting a luxury charter yacht in Greece, or anywhere else in the Mediterranean this summer, contact 1-800 Yacht Charters at  +1.800.922.4824 (toll-free North America) or +1.305.253.7245 (international), use our online inquiry form here, or email info@1800yachtcharters.com

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Top 5 Yacht Names Inspired By “Love” – #1 Is A Hoot!

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Logo decorated with hearts and red roses

Valentine’s Day – that yearly opportunity to profess our love to that special someone in our lives.  For many of us, we turn to traditional gifts like chocolate, flowers, or a romantic dinner to express our affection.

Ah, but the super-rich are different. Even gifts of jewelry pale in comparison to the grandiose gestures some HNWI’s (high net-worth individuals) bestow on their significant others and loved ones.

Yep, when it comes to over-the-top, what says “je t’aime mon tresor” more than a gift of a private superyacht???

Of course, the ultimate enhancement to the ultimate gift – naming your yacht to honor the one you love…

In celebration of Valentine’s Day 2016, we share our favorite 5 private yacht charter vessels with names inspired by love.  Some names are whimsical and cute, others haughty.  Our favorite name, # 1, is simple and oh-so-perfect — boasting the two most famous words uttered by almost every man who understands (and appreciates) who’s really the boss!

Champagne in hot tub on yacht charter

5.  4YOU – Imagine the surprise when this owner turned to his wife and handed her the keys to a 180 foot megayacht, aptly named, 4YOU.  Launched in 2012, this spectacular yacht from the Amels Limited Edition 180 series was designed by Tim Heywood, and features a stunning modern-chic interior by Laura Sessa Romboli. Up to 12 guests can enjoy a Greek yacht charter vacation, from €280,000 per week

4.  DREAM PRINCESS – Sure, lots of guys call their lady a, “Princess.”  But a DREAM PRINCESS? That’s ramping it up another notch.  A popular yacht for special events (e.g. Monaco Grand Prix yacht charter, MIPIM yacht charter, etc.), this Princess 64 motor yacht is a vessel with a real sense of occasion. She offers exceptional performance and boasts a sleek, sporty profile hiding a spacious three-cabin charter layout.  Her interior is light, with elegant details.  Rates from €18,000 per week

3.  HONEY BEAR – Every once in a while, we find a yacht named by a woman for the man in her life.  The 28 meter Sunseeker 90 yacht HONEY BEAR is a fast, fun yacht for sophisticated yet informal Monaco yacht charter holidays. Her modern yet warm interior offers plenty of space for relaxation, and her open deck areas are perfect for enjoying the sunshine. She provides accommodations for 8 guests in 4 staterooms and is priced from €45,000 per week

2.  LADY BRIT – there are lots of “Ladies” in the charter fleet, Lady Sheila, Lady Victoria, and more. Still, one stands out for her simple, elegant name – the epitome of European class:  LADY BRIT.  Surprisingly, the yacht was not named for the owner’s wife, but rather, in honor of his mother. The 207 foot Feadship yacht LADY BRIT offers the ideal platform for a resort-style St Barts Yacht Charter in the Caribbean, as she features a wellness spa, gymnasium with panoramic views, outdoor cinema, and an authentic Finnish sauna with private access to the water.  Weekly rates start at $445,000 per week

1.  YES DEAR – what man hasn’t uttered those two words to his special someone???  A Voyage 580 Virgin Islands catamaran charter vessel, sail yacht YES DEAR is 58 feet long and 31 feet wide – the perfect design for maximum comfort and stability.  She features 5 cabins for up to 10 guests, and her weekly rates start at $24,000.  Funny side note – her dinghy is named, “No Dear.

Happy Valentines’ Day from Jana Sheeder, President and Owner, and the rest of the team at 1-800 Yacht Charters

 

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