When we commissioned the award-winning, sailing yacht Atalante in 2015, Dominion provided excellent detailed advice on the registration and taxation options that we used.Beneficial Owner, S/Y ATALANTE
Dominion Marine are pleased to offer a Rental Structure for pleasure yacht owners wishing to defer the payment of VAT on the purchase of their superyacht.
Owners utilising the structures are compliant with their obligations to the Cypriot Government as VAT is paid to them over the life of the structure, albeit at a reduced rate, and the yacht is in free circulation throughout the EU.
We understand that a superyacht is an incredibly valuable asset and as such unnecessary risk is unacceptable when deciding on ownership structures.
Our Cyprus Rental Solution provides owners with complete piece of mind due to the following:
- Every superyacht requires pre-approval from the Cypriot Government prior to acceptance in to the Cyprus Rental Solution
- Owners are strongly recommended to obtain a formal and indemnified tax opinion on the solution from a reputable source. Ernst & Young who assisted in the development of the Cyprus Rental Solution will gladly provide advice, such is their confidence in the legitimacy of this structure
- With the EU Commission now commencing procedures against Malta and Cyprus for their Lease Structures, the Cyprus Rental Solution is the perfect structure for purely private superyachts
To compare the VAT payable across pleasure yacht ownership structures please try our VAT Calculator.