Presenting powercat THUNDERBIRD 2. A motorized catamaran with a very unique paintjob! Thanks to Sarah for letting us know that it should be included in this blog. We agree! Go green! #gogreen
Everyone knows that picking house paint colors isn’t just difficult, it’s terrifying! Pick colors that are blah, and your house will seem featureless and flat. But if the colors you pick are too bold, they might overwhelm the architecture…and upset your neighbors.
The best colors will highlight the most beautiful features of your home. Skillful use of color can even disguise design flaws, boosting the, “curb appeal” and market value of your home.
Finding that magic color combination also holds true for luxury mega yacht charter vessels.
The first thing a potential client sees when preparing to rent a private yacht is the exterior. The “dock appeal” must catch the attention of the prospect and pique his curiosity to see the interior as well.
Traditionally, yachts were painted simply – clean, bright white. With modern technology, new paints and colors that resist fading and the harsh marine environment have been developed. Now, the only limit to the exterior color scheme of a yacht is the owner’s imagination.
Here’s a sampling of unique paint schemes and colors on some of the newest and largest yachts around the world:
QUITE ESSENTIAL – With a striking color scheme of Oyster White and Merlot Red, developed by the owner in close collaboration with Dobroserdov Design, Heesen motor yacht Quite Essential will certainly not pass unnoticed in the Mediterranean yacht charter fleet. It is said the red color was inspired by the owner’s love for Merlot wine!
SLIPSTREAM – celebrity owner, former American Idol judge, and X-Factor creator Simon Cowell, is known for wearing simple, dark colored T-shirts against pale blue jeans. The classic deep blue hull and gun-blue superstructure of Cowell’s yacht Slipstream sets the scene for a truly nautical and contemporary super yacht.
BLACK and WHITE – the distinctive black and white theme onboard motor yacht BLACK AND WHITE is based on the ancient yin yang symbol, a Chinese sign for the mixing of complementary opposites. Launched in 2010, this magnificent Sunseeker 34 yacht mixes not only color, but also high-end amenities and comfort with performance and power.
MISTER JINGLES – the global debt crisis has focused great attention on the value of gold. The color gold draws nearly as much attention, especially on a yacht painted stem to stern in this shiny, metallic palette. Designed and built by Italy’s Fashion Yachts, motor yacht Mister Jingles debuted as a luxury yacht charter vessel in 2009. The metallic performance yacht boasts a 35 knot cruising speed – perfect for quickly getting from one famous port to another.
AURELIA – recently, we profiled yachts named after race horses by their loving owners. It seems another type of race fan – Formula 1 cars – is just as proud to display his passion on a yacht. The 37-Meter Heesen motor yacht Aurelia boast an unusual color scheme from Dobroserdov Design, inspired by the owner’s passion for racing cars. Zoom Zoom Zoom!
Know of any other yachts with cool paint jobs? Email us a picture (to info@1800yachtcharters.com ), along with your name, the name of the yacht, and where you saw it. We’ll post and share your pics with our readers!
This entry was posted in Yacht Charter News Educational and tagged 1800yachtcharters, Dobroserdov Design, Formula 1, powercat, Slipstream, Sunseeker, Aurelia, Thunderbird 2, Black and White, motorcat, Quinta Essentia, Mister Jingles, motoryacht, go green, Heesen, yacht paint jobs
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Spain wants more private luxury yacht charter business in the Balearic Islands. However, they have a funny way of showing it.
Regular readers of our blog might recall the controversy. Previously blogged, it surrounds 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. Unfortunately, Spain is still imposing far greater taxes on charters. This is as compared to fellow European Union countries like France, Italy and Malta.
Case in point. Picture a specific yacht that is legal for charter in both Spain and France. It incurs TWICE as much VAT liability in Spain. This is even though the tax percentages are nearly identical!
A yacht charter example.
Formula 1’s Eddie Jordan has a Sunseeker 155 motor yacht BLUSH for charter. He often keeps her in the Balearic Islands for the summer charter season. When there is demand, the yacht can easily reposition. She moves to the South of France for clients who prefer a French yacht charter vacation. Additionally, she can go to the coastal areas of Italy and nearby islands of Sardinia and Corsica. Her weekly charter rate remains the same between both destinations. The rate is €220,000 per week in high season. 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 Sunseeker, Member States, Spain yacht charter, Article 56(1), Ibiza yacht charter, Tax Marine, Blush, Corsica, Sardinia, South of France, VAT, Balearic Islands, Jana Sheeder, yacht charter matriculation tax, president of 1-800 Yacht Charters, European Union Council Directive
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