Yes, it is correct that the Customs Authorities here in Palma have a good system in place to handle Temporary Admittance procedures for non EU owned/flagged/used yachts. We have successfully handled many exit/re-entry procedures but the only tip I would suggest is “do not leave it too late” or too close to the 18 month limit. We have a couple of yachts which, due to the bad weather or mechanical problems , have not been able to leave and are now over the 18 month limit. We have requested customs to put these yachts under customs bond but they have refused.
Get in touch if you need any help!