$mart Yacht Owner
Before you purchase a new yacht call us for a consultation on what ownership options are available. We are experts in the areas of revenue generation and can propose several methods from simple to sophisticated that will enhance your ownership experience.
If you currently own a yacht, you can achieve lower operating costs and revenue generation by working with a management company. Yacht Solutions can assist in this setup with legal, accounting, structure, management, scheduling and marketing solutions for your yacht along with the creation of proven revenue streams. Partnership and simple fractional model expertise is available.
Take a look at some of the cost effective ways we provide to own or have access to a yacht. Our programs offer most of the advantages and benefits, without the high cost, responsibilities or downfalls normally associated with yacht ownership. Many programs are available in some of the most desirable and sought after cruising areas in the world.
$mart Yacht Ownership
As gratifying as yacht ownership is, it tends to cost more than most people originally budget for and that is why charter management i s a good option to reducing ownership costs. With the current tax laws in effect you will find that those costs can even further reduced. You could own your yacht in less time at a fraction of the cost. For some this could form part of their retirement plans. YACHT Solutions has several unique Yacht Ownership Programs that will dramatically reduce the costs by simply taking advantage of the current tax laws.
Under the various programs, there are typically two models of Managed Yacht Ownership:
The first model is a Guaranteed Income Model. The owner receives a guaranteed payment per month from the charter company for the use of the boat. The owner is typically given a number of weeks per year when they may use their own boat. This is a more risk adverse model than the incoming-sharing model which will be described next. Programs from operators like Moorings or Navigare fall into this category.
The second is an Income Sharing Model between the owner and the charter company. The owner must pay all costs associated with the boat including maintenance, purchase price or down payment, depreciation, interest costs, insurance etc. The owner’s share of the income from chartering the boat goes to offset these costs. The charter company keeps its share of the income (usually 50%) for marketing and operational expenses.
Buying a new yacht and placing it in charter service is an effective business strategy provided the business is set up correctly and the operation structured to qualify for the tax benefits and remain in compliance with government regulations going forward.
Although the acquisition of a new yacht may be an effective business tool, the tax benefits must be carefully planned, documented, and implemented. We will work with you and your tax professional to qualify your yacht as a business and legitimately take advantage of tax deductions available to you. Our ownership advisers together with the yacht management company will put your yacht into a revenue program that is rewarding, without the day to day operational tasks typical of owning a yacht. Further to this YACHT Solutions will work with and assist you every step of the way; From selecting a yacht by some of the top brands in the world, financing your acquisition, to placing your new yacht into the best revenue program for you. Ultimately a program that it fits with your boating ambitions, budget and lifestyle. Download our whitepaper on “Yacht Ownership with Revenue” and take a closer look at our smart yacht ownership options.