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INTERNATIONAL MARITIME CONSULTING: MEGA YACHTS/SUPER YACHTS |
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VERGES & CO INTERNATIONAL LAW OFFICE
Associate Member of the Chamber of Shipping - London
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Advising when you build or purchase your yacht
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Helping our clients in selecting a good shipyard (review of the financial statements..),
naval architect, interior designer, other
subcontractors.
In case you buy a yacht, we have to check that the seller is in good standing, the yacht is in good condition (sea trial and
condition survey), sold free and clear of all debts, claims,
liens and encumbrances and the seller, as the legal owner of the yacht, has the valid right
to sell her.
We also need to check if the yacht is “VAT Paid” and complies
with international maritime rules, a Classification Society and the MCA
(Maritime and Coastguard Agency) regulations, if so.
Helping our clients in selecting the most effective and secure way for yacht ownership from a legal and tax/VAT point of view. If so, incorporation of a Limited Company, VAT registration, registration with
the Inland Revenue and National Insurance or other local Authorities, registering Company's PAYE scheme, for example, etc..
Assisting our clients in the negotiation and conclusion of contracts of building/purchase of vessels
according to the international/internal (especially, English) maritime, legal and tax rules, the MCA Codes,
if so, and a Classification Society regulations.
Advising and assisting our clients so as to secure and optimize every aspect of their operations with respect
to International/Local Maritime, Tax and Customs Authorities as well as other Maritime Organizations such as the MCA
and the Classification Societies, if so.
Indeed, there are many matters that need organising,
including: yacht VAT regime, yacht registration, selection of deck officers and crew and drafting of
their contracts, application for a ship radio licence, negotiation of yacht and crew insurances, etc..
Helping our clients in the management of their yacht via a team of professional chartered accountants.
This implies to make:
- A monthly supervision of operations made by the captain.
- A preparation of the crew payroll, preparation of monthly salary slips, payment of salaries, UK PAYE (if so) and social contributions.
- Monthly/quaterly management reports and budgets together with all necessary information to the owner and according to his requirements.
- Etc..
Providing our company clients with accounting and financial services via a team of professional chartered accountants:
- Preparation and submission of VAT returns.
- Book keeping including preparation of annual accounts.
- Other services on request.
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Advising when you charter your yacht |
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Assisting our clients in the review of charter contracts provided
by brokers, or in the drafting of these charter contracts if the yacht is
chartered without a broker's assistance.
Advising and assisting our clients in their charter operations so as to optimize and secure the charter,
according to the applicable legal and tax rules
(VAT claimed by the countries where the yacht is chartering/local taxes/income tax on profits, if so, etc..).
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Advising when you sell your yacht |
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Advising and assisting our clients so as to secure and optimize every aspect of the sale of the yacht.
In practice, this means we have to :
- Check the buyer's solvability and reputation, etc..
- Draft or rewiew the sale contract according to international/internal (especially, English)
legal, maritime and VAT rules concerned.
- Take safety measures re. the deposit of 10% of the sale’s price paid by the buyer to the
stakeholder (s) mentioned in the contract.
- Make the closing so as to complete the sale (release of the deposit and payment
of the balance of the sale’s price
by the buyer to the seller’s lawyer in exchange for all the documentation
as requested by the buyer’s lawyer and reception of the yacht).
In case the seller is not one of our clients, we need to check that he/it is in good standing,
the yacht is in good condition (in any case, a sea trial and condition survey are always requested by the buyer),
sold free and clear of all debts, claims, liens and encumbrances and the seller, as the legal owner of the yacht,
has the valid right to sell her. We also need to check if the yacht is “VAT Paid” and complies with international
maritime rules, a Class Society and the MCA regulations, if so.
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SEE
MARITIME HIGHLIGHTS |
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