News

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NETWORK CONTINUES BRINGING THE AUTHORITIES AND THE SECTOR TOGETHER

Network Marine Consultants hosted an informative and well attended meeting in the Club de Mar on Wednesday 15th October. The Balearic Director General of Ports and Airports, Sr Antonio Deudero, addressed a large group of yacht brokers, management company representatives and yacht captains, on the subject of the latest modifications to the rules governing commercial [...]

INFORMATIVE MEETING ABOUT CHARTER LICENCES

CHARTER OF NON-EU FLAGGED VESSELS IN THE BALEARICS

The Balearic Government Transport Department has recently opened up the possibility of issuing Charter Cruising Permits to vessels with non-EU flags, under certain conditions. This is good news for the yachting sector in the Balearic Islands, as it further confirms the commitment of the local administration to supporting the yachting sector. Owners, managers and captains [...]

FURTHER GOOD NEWS FOR THE BALEARIC CHARTER

BREAKING NEWS: Balearic Government has officially announced that it will now allow non-EU flagged charter yachts over 14 meters to operate out of the Balearic Islands. Same requirements as for EU flagged vessels apply: commercial registry, commercial compliance, full insurance, crew compliance, EU VAT accounted for, Spanish Tax I.D. etc. Evidence must be provided that no [...]

PORT STATE CONTROL

Port State Control is the inspection of foreign ships in national ports to verify that the condition of the ship and its equipment comply with the requirements of international regulations (SOLAS, MARPOL, STCW and MLC) and that the ship is manned and operated in compliance with these rules. The Port State Control inspections in Spain [...]

CHARTER LICENCES ON THE RISE

The effect of the change in the matriculation tax law and consequent clarification of the use by the beneficial owner have had an immediate effect on the number of charter licence applications. In the last couple of weeks Network Marine Consultants have completed 5 new licences for yachts between 24 and 30 m, and 5 [...]

REFLECTIONS ON THE PALMA SUPERYACHT SHOW

Now that few weeks have passed since the closure of the Palma Superyacht Show 2014, Network Marine Consultants has had a chance to look back and take stock: "We participated in the show for the first time, and are very pleased with the outcome. The show was well attended and the atmosphere was very upbeat", [...]

MONACO FISCAL MEETING APPLAUDS THE OPENING OF THE SPANISH CHARTER MARKET AND CALLS FOR CLEARER VAT RULES

Leading European tax experts, lawyers and yachting industry professionals congregated to Monaco on the 15th of April to discuss the current fiscal issues, specially the modifications to the Spanish matriculation tax laws and the various VAT rates applied on charters throughout the Mediterranean. The recent changes in Spain prove that hard work pays off and [...]

CLARIFICATIONS OF THE CHANGES TO THE CHARTER REQUIREMENTS IN SPAIN

The changes are actually very simple and are good news to the international large yacht charter sector: - the only piece of legislation which has been modified and is applicable at present was published in October 2013 and basically eliminates the 15 mt ceiling for claiming exemption from Spanish matriculation tax – allowing all correctly [...]

NMC TO ADDRESS MONACO FISCAL FORUM

15th of April: Superyacht Fiscal Management Meeting in Monaco The Managing Director of Network Marine Consultants, Patricia Bullock, will participate in the high profile Superyacht Fiscal Management Meeting on the 15th of April in Monaco, where she will address an audience of European authorities, tax experts, lawyers, brokers, captains and managers about the recent changes [...]