id238 ms super-yachtsbrochure-v18-hr

Superyachts

www.moorestephensyachts.com PREC ISE . PROVEN. PERFORMANCE .

Moore Stephens Yachting

Isle of Man

2 Moore Stephens Isle of Man Superyachts

Moore Stephens

Superyachts

Whether for personal pleasure or as a business

venture, a Superyacht represents a substantial investment in

money and in time. So while the rewards of yacht ownership are

varied and almost limitless, they are inextricably linked to

considerations of hard finance.

Moore Stephens Isle of Man Superyachts 3

“ Ask a ship-owner which international accountant he most associates with the shipping industry, and he will probably say Moore Stephens.”

Lloyd’s List


We are known for our private client solutions, including yacht ownership structuring...and very special client service .


Expertise

This is where Moore Stephens comes in – with unrivalled skill and

efficiency. Our aim is to maximise the return on our client’s

investment and ensure that the commitment made to ownership

is properly rewarded.

Moore Stephens are international accountants but our

traditions are maritime. Our specialised knowledge and

experience are proven. Our professionalism is uncompromising.

Our service is global and truly comprehensive.

And, on your behalf, we focus all that on making Superyacht

ownership plain sailing.


Ownership services

It’s true that yacht ownership brings complications with

undoubted pleasure. But carefully structured yacht ownership

and attention to detail ensures you don’t have to worry. That’s

where we come in.

We specialise in forming and managing yacht ownership in

selected jurisdictions.

We also offer a complete suite of corporate and trust

services - from registered office or place of business, personal

wealth management, directorship and trusteeship and active

administration to secretarial support.

Our expert assistance pays dividends in many other areas…

Yacht registration

A yacht’s registration is her passport to sail international waters.

But the registration process itself raises important considerations.

Under which flag should your yacht sail? What is the best way to

communicate with the issuing authorities and should this be by

way of a representative person?

Which manning and licensing issues affect Flag State compliance

and what is the most efficient way to handle them?

When it comes to Superyacht registration, we know the

problems. Most importantly, we have the solutions.

AccountingWe help with every aspect of the accounts function, from

day-to-day administration to annual financial statements.

We work with your staff. We can provide structured training or

we can offer a complete outsourced accounting function. You

say how you want it to work; we make it happen.

VAT/TVAVAT compliance is an unavoidable fact of European yachting.

We provide VAT services including VAT registration, official VAT

clearance documents, on-going assistance and guidance, VAT

reclaims and many more. We offer all these services on a

contractual or as-needed basis, acting either as Manager or as

Fiscal Agent.

Each situation is different so a global perspective is essential. We

pride ourselves on selecting the ideal jurisdiction.

Our base happens to be in the Isle of Man - a part of the

European Union (“EU”) Customs and VAT system but, crucially,

independent in other matters including taxation. This

combination of independence and privileged links with the EU,

together with a zero tax regime for business, makes the Island a

unique venue offering substantial financial benefits for both EU

and international yachting business.


“ Moore Stephens excel at providing comprehensive, proactive and innovative advice for Superyachts. ”


Nothing about our luxury asset service is standard.


Insurance

Moore Stephens is a 100 year old name, long associated with

specialist asset types and services.

Superyacht insuranceCovers not only the yacht, but can also include:

• tenders;

• private submarines;

• diving gear;

• engines and machinery;

• fine art; and

• personal effects.

Third party liabilities Covering liability to third parties for bodily injury or property

damage caused by you, your guests, your yacht or crew is vital.

To ensure comprehensive coverage we arrange this through

insurers, a P&I Club or using a combination of both.

Normally cover up to US$500 million is available.

Hull war This specifically covers strikes and civil commotion risks as well as

war - risks not always covered by Superyacht insurance.

Extensions are available to include loss or damage from piracy,

terrorism, sabotage or any malicious act with a political motive.

Luxury asset insuranceYachts and their contents, fine art, jewellery and antiques, private

jets and helicopters are all confirmation of their owners’ success.

Luxury assets by definition are in a class of their own – that

means bespoke insurance.

Unsurprisingly, protecting luxury assets and their owners is not

simple.

We deal directly through our Lloyd’s authorised brokers and with

the underwriters themselves whenever possible to negotiate the

perfect tailor made package to suit your needs.


Crew employment, payroll, welfare and benefits

Loyalty works both ways. Invest in your crew through our crew

solutions and they will pay you back with their commitment to

you and your yacht.

Crew employment The safe, efficient and smooth operation of a luxury yacht

demands a crew of the highest standard in every area.

To attract such high-calibre crew members our tailor-made

international employment packages include an outstanding range

of benefits, health plans, personal and general insurance and

flexible retirement provisions.

Crew payrollIt goes without saying that ownership and operation matters are

strictly confidential - that includes crew employment terms and

salaries. By outsourcing to Moore Stephens, information is moved

off-site and offshore to a secure environment where it can be

processed centrally and reported quickly, accurately and

discreetly.

Our payroll service is all-embracing, covering not only crew

salaries but also expenses, social charges and pension

contributions.

International FlexiPlan The International FlexiPlan allows access to carefully selected

balanced portfolios with appropriate risk profiles. The International

FlexiPlan includes only those investment houses with impeccable

reputations.

Our competitive fees and charges minimize the impact on

investments.

Online secure access (and iApps) empower the seafarer to make

regular decisions about their investments.

Crew benefitsWe also offer assistance to all crew members – irrespective of

nationality – on taxation, international bank accounts and credit/

debit cards.

“ High net worth clients and companies require prompt, cost effective service that is a cut above the rest - Moore Stephens deliver.”


Superyacht ownership is about prestige, elegance, exotic ports of call. It is about a quest for the ideal. It is also (in case you had forgotten) about hard finance.



Consultancy

Management

All yacht owners do not necessarily share identical perspectives or

objectives. But whether they aim to protect assets or to gain

access to new markets, the right corporate medium or trust

vehicle is vital if the optimal structuring of vessel ownership,

registration and operation is to be achieved.

Whatever the client’s needs, we offer a solution tailored to match

them, exactly.

TaxationCompliance and efficiency - the two tax fundamentals of yacht

ownership and management systems. Our tax advisory service is

designed to ensure that those criteria are always met.

We will clarify and offer guidance on the tax ramifications of

contracts to buy, sell or build a yacht. It’s a fast moving area, so

we keep our clients abreast of recent developments with regular

updates via electronic newsflashes and a topical newsletter.

EU VAT reclaims

It does not make good business sense to leave your European

VAT unclaimed. We can maximize your recovery by reviewing

your company expense files in order to extract the relevant

invoices and receipts.

We do all the work allowing you to enjoy yacht ownership.

Accountancy and auditIt goes without saying that individuals, companies and trusts have

specific accounting requirements.

Our forensic accounting services team is a highly specialised unit

with extensive experience in dealing with dispute analysis and

investigations into commercial and contractual, as well as

shipping and insurance disputes including fraud and false

accounting.

Finance and insuranceWe act as financial adviser for a wide variety of projects for

individual and corporate yacht owners, shipyards, investment

groups and leasing companies. Our experience, contacts and

reputation also allow us to offer insurance packages on a

best-offer-best-cover basis - comprehensive in terms both of

cover and value - for yachts and their crew.

Global assignmentsOur global reach enables us to make introductions and service

assignments all over the world.


Why Moore Stephens?

Our location. Being in a premier international centre of finance

and shipping is ideal.

We have years of experience in shipping and in yachts. There’s no

substitute for that.

We take time to understand the people involved. We make sure

that we know precisely what our clients want.

Then we make sure that we deliver…


...because we are known to be pre-eminent in a highly specialised field. And because we think and operate globally.


“ Moore Stephens provide excellent advice in a very timely manner.”


Contact us

Moore Stephens Isle of Man

26-28 Athol Street

Douglas

Isle of Man

IM1 1JB

British Isles

T +44 (0)1624 662020

F +44 (0)1624 662430

Ayuk Ntuiabane - [email protected]

S ayuk.ntuiabane.msiom

Grant Atchison - [email protected]

S grant.atchison.msiom

Clive Dixon - [email protected]

S clive.dixon.msiom


Moore Stephens

Companies

Moore Stephens Isle of Man is a member of Moore Stephens

International Limited, a worldwide network of independent firms.

Certain services described in this brochure are regulated and such

services are provided by the appropriate registered or licensed

Moore Stephens entity listed below.

Moore Stephens Brokers Limited*A company incorporated in the Isle of Man No.126547C.

Registered with the Insurance and Pensions Authority in respect

of General Business.

Moore Stephens Financial Services Limited*A company incorporated in the Isle of Man No.111421C

Licensed to conduct Investment Business by the Isle of Man

Financial Supervision Commission.

Moore Stephens Retirement Solutions Limited*A company incorporated in the Isle of Man No.123460C.

Registered with the Isle of Man Insurance and Pensions Authority

as a Professional Retirement Benefits Schemes Administrator.

Moore Stephens Trust Company Limited*A company incorporated in the Isle of Man No.081489C

Licensed by the Isle of Man Financial Supervision

Commission as a Corporate and Trust Service Provider.

Moore Stephens Consulting Limited*A company incorporated in the Isle of Man

No.071416C.

Moore Stephens Crew Benefits Limited*A company incorporated in the Isle of Man No.124557C.

Moore Stephens Crewing ICC LimitedA company incorporated in Guernsey No.48540. Registered

office: Town Mills South, La Rue du Pre, St. Peter Port, Guernsey

Channel Islands, GY1 3HZ.

Moore Stephens Aviation**Registered trading name of Moore Stephens Trust Company

Limited.

Moore Stephens Yachting**Registered trading name of Moore Stephens Trust Company

Limited.

Moore Stephens Chartered Accountants*Registered by the Institute of Chartered Accountants in England

and Wales to carry out company audit work.

Registered office* and place of business**:

26-28 Athol Street, Douglas, Isle of Man IM1 1JB, British Isles.

“Quotations” represent a genuine testimony from a client of Moore Stephens Isle of Man.

“ Moore Stephens are consummate professionals who offer a complete solution to yacht ownership”


We believe the information contained herein to be correct at going to press, but we cannot accept any responsibility for any loss occasioned to any person as a result of action or refraining from action as a result of any item herein. This brochure is not a substitute for professional advice. Printed and published by © Moore Stephens Isle of Man is a member firm of Moore Stephens International Limited (“MSIL”). MSIL is regarded as one of the world’s leading accounting and consulting networks with 636 member and correspondent offices in some 100 countries.

Moore Stephens Yachting, 26-28 Athol Street, Douglas, Isle of Man, IM1 1JB, British Isles T +44 (0)1624 662020 F +44 (0)1624 662430 [email protected]

April2012BR238.1

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