YACHTING NEWSLETTER- MAY

May kicks off the yachting season in the Med!

The sun is out and events such as the Rolex Tennis Master series and the Monaco Grand Prix start to set the tone for the summer season ahead!

BILLIONAIRE'S CALENDAR

MAY:

May 6- MET Gala New York

May 10-12 Grand Prix Historique, Monaco

May 14- 25 - Cannes Film Festival

May 15h - Yachting Masterclass, Monaco

May 23rd - Amfar Gala, Cap D'antibes

May 23-26 - Monaco F1 Grand Prix

JUNE

June 18th- Royal Ascot, UK

June 22 - Fete de la Mer, Yacht Club de Monaco

June 27 - Next Gen yacht owner conference

WHY IS CHEAPER TO CHARTER FROM GREECE THIS SUMMER

When you book a charter on top of the charter fee you have the APA and the VAT.

The VAT varies depending on where you board the yacht. Every country has its own rate; for example, Italy is 22%, so you need to consider this as an extra cost to pay!

When you are chartering a yacht for 300,000 euros a week an extra 22% makes a huge difference on the budget.

The Greek VAT tax base is among the lowest in Europe similar with Croatia (!)

Did you know that starting April 1st, 2021, the Greek government implemented incentives to support industries heavily impacted by COVID-19, notably reducing the tax base for crewed yachts from 24% to 13% ??

-> Yes 13% VAT rate was permanently established!

Additionally, further deductions are applicable based on the Certificate of Compliance (CoC) of the vessel:

• For yachts with unlimited navigation, the VAT rate is reduced to 5.2% (a deduction of 60%).
• Yachts with limitations are subject to a VAT rate of 6.5% (a deduction of 50%).
• For static charters and those lasting less than 48 hours, the VAT rate remains at 13% (full rate).

So for example of you are cruising within Greece you would pay either 13%, 6,5% or 5,2% on the charter fee depending on the Certificate of Compliance (CoC) of the vessel & TEPADAH special cruising tax.

Due to its over-reduced VAT rates, Greece emerges as one of the most appealing destinations to charter a yacht this summer in the Mediterranean ??

Source: Your SOS Yachting Team Thank you Maria Ntouka-Montesantou and Frédéric Dormeuil for this piece of relevant content.

Networking

I am always happy to connect with people in my yachting community and since I do it physically I will start a section in my newsletter where I do virtual introductions to superyacht experts.

In this edition, since we talked about new VAT rates in Greece, I am happy to introduce you to Anthony Galea

Anthony is an expert when it comes to advice on corporate structures, tax advisory, and VAT compliance, yacht registration and yacht finance.

FEATURED YACHT

You can charter St David in Greece this summer and take advantage of the reduced charter rate!

MORE INFO: Yacht Brochure here

HEALTHY POTIONS ARE THE NEW ALCOHOL

The new health trend is to drink tasty drinks as an alternative to unhealthy sodas or alcohol.

Porhy- potion is made of organic superfoods brewed into tasty potions to increase your immunity

• Detox
• anti- ageing
• Immunity boost
• Reduce cravings
• Burn fat
• Reduce blood sugar spikes

WATCH THE MONACO GRAND PRIX ONBOARD A YACHT

Join us onboard our yacht which has THE best track-side view!

DM me for tickets, food and drinks included!

Fun-guaranteed!

YACHTING MASTERCLASS

Starting next week Wednesday 15th of May at La Belle Classe Academy of the Yacht Club de Monaco

?? Become a certified superyacht professional

Yachting Masterclass

NEW ACCOUNT TO FOLLOW

If you are a captain, chief engineer, ITO or ETO you can follow Sat-Elite who will be posting weekly engineering tips to solve IT problems onboard! ????

Watch this video:

https://www.instagram.com/reel/C6wNWCStVJv/?igsh=MTZpYjFzNzN3eTY0Mg==

Would you dare to climb up the mast of the worlds largest yacht?