VAT, Temporary Admission
Are you a Non-EU resident yacht owner wishing to sail in EU waters free of VAT?
Temporary Admission (importation) is a means by which a non-EU resident yacht owner is granted admission in to EU waters without having to pay VAT on the value of their yacht.
It is important that such legislation exists and is readily applied across EU member states, otherwise, many non EU resident owners may choose to steer clear of visiting European waters, with the cost of paying VAT on arrival being too prohibitive.
In general terms, to be eligible for "Temporary Admission", a yacht must be owned by either an individual or yacht owning company, resident outside of the EU VAT territory and not used for commercial gain (private use only).
Of worthy note, however, is that a yacht simply being owned by an offshore company in itself will not meet eligibility, with authorities looking carefully at the persons onboard. To this extent, users should be prepared to evidence that they are neither resident nor established in the EU. Failure to do so may result in the yachts detention and payment of VAT plus fines at the applicable rate.
Bachmann Yachts is proud to offer all qualifying individuals a Non-EU corporate ownership and registration service, administered and managed in-house by our specialised Yacht Team.
This service provides owners who are genuinely Non-EU resident the benefits and opportunity to own their yachts through an offshore company, for the yacht to be registered at the owners preferred offshore port of registry and VAT free sailing in European waters for up to 18 months on any one visit.
For further information, please contact Gary Le Cras.