Since the change in the Mat Tax law in October 2013 yacht charter is on the up and up in Spain and looks like continuing in that same direction.
There have been some small “tweaks” in the regulations but all in a positive vein and as far as we are concerned everything has operated smoothly. Since the 2014 season at Network we are now talking of the number of charter licences well up into the 3- figure bracket.
Correctly legalising a yacht for charter in Spain, or anywhere else in the world, is very serious business and it is essential that the initial structure is very carefully and calmly handled by the best professionals in the business.
This is not a race, and the first stages may take time, but with good advanced planning everything should run smoothly and, once in place, the structure will tick over problem-free for many seasons.
Network has now streamlined the process of obtaining both the regional and national parts of the Spanish Charter Licence, while outsourcing the handling of most VAT aspects to the EU VAT Compliance experts, who not only act as VAT Representatives in Spain for our charter clients, but also now handle full VAT accountancy, including processing applications for refunds when relevant.
It is important to understand that to obtain a full Spanish Charter Licence, two different but parallel paths are taken:
- Owning or Operating Company’s Spanish Fiscal Representation; obtaining and registering Spanish (non-resident) VAT number; Matriculation Tax certificate; VAT accounts.
- Yacht Compliance with relevant Maritime Legislation.