Our company arranges yacht charter license in Greece for foreign commercial yachts which wish to make charters in Greece. on the 1st of december a new legislation (l4504/2017) entered into force.

Eligible yachts:

• All commercial yachts under an eu flag and
• All commercial yachts of a non eu flag, subject they are more than 35m in length and of non wooden construction, are eligible to issue a Greek charter license practically ending the cabotage law.

Yachts should not be under leasing.

The charter license will be issued to the yacht through a professional and competent registered agency in Greece to represent the yacht and it’s interests through a commercial yacht management – assignment – handling agreement.

No branch office in Greece is required nor a Greek company.

All yacht owners have a main concern which is the high cost of having to have a branch office in Greece or have to establish a Greek company in order to perform charters.

This is where our company steps in and offers a unique package based on law 4256/2014 where the yacht charter management company can apply on behalf of the yacht owner to obtain the Greek yacht charter license. This way owners save on high costs in running a company and also save on accountants, manager, social security contributions, office rental as well as to annual VAT/tax fillings.

More about the yacht management/assignment

The assignment agreement is compulsory and the ministry accepts it as an alternative to the yacht owning company to apply for the license.

The agreement is based on terms and conditions that the ministry has already approved and they can not be changed however if the owner / manager wishes to change any article this is free to be done on a separate amendment to be signed by all parties in order for all to be comfortable with this operation and have a trustful business relation.

Procedures and steps

The process of filing for the Greek yacht charter license consists of 3 steps:

Step no 1

Technical file. the yacht will be inspected and surveyed and will be issued the foreign commercial yacht inspection certificate. This certificate may be issued by local classification society and the inspector can travel everywhere

Step no 2

Apply to the vat department of the local tax office to obtain vat exemption and trading as a Greek licensed foreign flag commercial yacht.

Step no 3

After the authorisation will be granted as per step 2, we will sent the file to the ministry of merchant marine and island policy at the sea tourism department with all required documents and certificates and we will receive the registration of Greek licensed foreign flag commercial yacht which is the charter license.

The period of licensing is between 1-2 months.

Our management company

In order to be flexible and professional we have established a company with all criteria that characterizes a yacht management / assignee and charter management company so that we use for the needs of licensing international yachts in Greece. our sister company sky marine single member p.c. is the company which is involved in the chartering procedures / licensing etc. ( www.sky-marine.gr)

The company is owned by 100% by Roditis Yachting and it is managed by me, Michalis Roditis and since the ministry approved the alternative licensing procedure of foreign commercial yachts we have licensed the following yachts:

M/Y Lauren L
M/Y Mercury
M/Y Only Now
M/S Meira
M/S Zelda
M/S Le Pietre
M/S Rox Star
M/S Capricorn 1
M/S Daima
M/S Dragonfly
S/Y C/M Ombre Blu3
S/Y C/M Ananta
S/Y Penny Lane
S/Y Nella
M/S Lady Freya
M/S Glorious

In order for the Inspector to proceed with the initial survey we will require the following certificates, manuals, drawings.

The actual Survey of the Yacht can be performed anywhere in the world subject to a charge for the Surveyor and his travel expenses.

Important documents required for evaluation

*Whatever is available

Documents & Certificates

• Registry
• International Tonnage Certificate
• Radio License
• Load Line Certificate (If Applicable)
• Sewage Certificate (If Applicable)
• CE Certificate
• NoX Certificate

Drawings:

• General Arrangement Plan
• Lines Plan
• Sections Plan
• Sewage Plan
• Tank Plan

Calculations:

• Stability Booklet
• Yacht’s Manual

Eligible Yachts

• All EU Flag Yachts with commercial registry
• Pleasure Yachts (Subject to Eligibility)
• All NON EU Yachts over 35 Meters subject to be built of Steel or GRP

There are yachts that for some reason they can not be registered in many EU Countries mainly because of the Status Category, age, type of yacht, ownership structure, Not CE Certified and other reasons which Flag Administrations like Malta or Netherlands and other EU Countries reject Compliance with the Commercial Yacht Code.

After looking into the market we understood that there is a great demand for such services and many owners wish to have their yachts commercially registered in Europe and be eligible to be granted Greek Yacht Charter License, so we are happy to introduce the following turnkey solution:

• Yacht Registration as Commercial in Poland
• Foreign Commercial Yacht Inspection Certificate*
• Radio License
• VAT Exemption for Trade in Greece as Commercial Yacht
• Greek Yacht Charter License

For prices and procedures, please send us an email bellow with the following requested data:

• Type of Yacht
• Previous Flag
• Curent Status
• Engine Type
• Available Engine Serial Numbers ?
• Length of the Yacht
• Total Cabins
• Nationality of Owners

Chartering in Greece as a foreign commercial yacht

As a Foreign Commercial Yacht the process of licensing starts with the VAT Registration of the Licensee which many of our competitors for their own reasons want to make it complicated and cost effective.

They either ask you to establish a company which will manages the yacht in Greece and apply for VAT/Tax ID or to establish a branch office of your existing company.

Both will require:

• Office premises for which you will be charged monthly
• Branch office or Company’s Manager which you will have to pay monthly
• Social Security Contributions for the manager which you will have to pay monthly
• Accountant & Tax Advisor which you will need to pay monthly
• Extra monthly fees (most of them hidden)
• High cost of establishment and High Cost of operational expenses

We say “No!!!” to all of the above

Our company’s offer

Our company Roditis Yachting and its Subsidiary Specialised in the Fiscal Services Company Sky Marine smpc, first of all has:

• 2 in-house Accountants to cover all Fiscal Needs of any operation
• Agreement with an Athens Based large TAX Consulting Company
• Experience in the field of Yacht Fiscal & Charter Logistics since 1989
• Good relation with all involved Authorities (Ministry of Merchant Marine & Island Policy, VAT Department, Sea Tourism Sector of the Ministry of Merchant Marine and Customs)
• A well established reputation in the field of Yachting
• The ‘KNOW HOW’

Our proposal/offer to you

Without having to establish any company, any branch and be involved in a bureaucratic procedure we propose:

1. The signing of a Commercial Yacht Management Assignment Agreement between the Yacht Owner and our Company which will be filed at the Ministry Of Merchant Marine and Island Policy/Sea Tourism Department and the VAT Office of Rhodes Tax Authority
2. This Assignment enables us to apply for the Greek Yacht Charter License on your behalf for your yacht.
3. The License will be issued under the Yacht and will be applicable to the Yacht Owner and our Company as the Fiscal/Assignees in Greece.

Your benefits are big, as you will not need to pay any monthly fees, you will not worry about your proposed branch office or company in Greece, your expenses will be eliminated as you will have to pay an annual fee to our company ONLY which saves you almost 60% but most important your operations in Greece will be smooth and hassle free.

We offer you a Peace Of Mind Solution…

For more detailed information, please contact us at any time

According to the instructions of the Ministry of Finance and the new support economic measures the following changes are noted

• For the period of 1/6/2020 up to 31/10/2020 VAT is reduced for the services of transport of people and their luggage from 24% to 13%
• According to the decision no. A.1118 exceptionally due to the emergency and unpredictable need for the dealing with negative financial consequences connected to the appearance and spreading of coronavirus COVID-19 the decision no. A.1018/2020 (G.O.G. B’ 361/7.2.2020) is suspended from its commencement, namely the “Specialization and proof of the criterion of use and exploitation in charters of professional pleasure yachts”. Since 24.4.2019 and henceforth for the specialization and the proof of the criterion of use and exploitation and for the calculation of the taxable value in charters of pleasure yachts of l. 4256/2014, those mentioned in the current legislation are applied proportionately up to 24.4.2019, according to the clarifications provided by the D. 1156/1997. Therefore the former measure for the calculation of the VAT fares exemption returns depending on the boats category. More specifically the following are applied:

The VAT (13%) in the charter agreement of professional pleasure yachts is defined as follows:

• Tourist ships that perform international trips beyond our territorial waters, when they approach foreign ports with proof are discharged from V.A.T.
• Tourist ships that perform international trips beyond our territorial waters without proving their approach to a foreign port are entitled to a 60% V.A.T. (category I). Onwards and till 30.10 The VAT will be: 5,2 %.
• Tourist ships that depart from a Greek port and perform trips of great navigation (i.e. Piraeus, Corfu, Northern Greece, Mytilini, Crete and Dodecanese) are subject to 50% VAT discount (category II). Onwards and till 30.10 The VAT will be: 6.5 %
• Tourist ships that depart from a Greek port and perform trips of small navigation (i.e. Piraeus to Cyclades, Northern Sporades, Zante, Cephalonia, Corfu ) are entitled to 40% VAT discount (category III). Onwards and till 30.10 The VAT will be: 7.8%
• Tourist ships that perform trips of limited range (i.e. trips from Piraeus to ports of Saronic and Argolic Gulf or from ports of N. and S. Euboean Golf up to Volos or between ports within the Corinth Gulf up to Patras) are subject to 13% VAT.

The relevant VAT Directive which recalls the VAT Directive A.1118/2020.

Import of yacht in Greece as commercial is VAT Free no matter the cost of the yacht. VAT is not obliged to be paid as long as it keeps its commerciality

1. Greek flag is recognized internationally as a leading white flag according to Paris MoU
2. Tax free operation
3. VAT & TAX Free fuel and supplies
4. Low VAT on charter agreements
5. Flexible certification which enables yachts for day charters to receive over 12 passengers
6. Low demands on yachts under 24 meters and fair procedures for yacht over 24 meters
7. No crew is compulsory for yachts under 24 meters ( based on the bareboat charter law)
8. Able to employ foreign crew
9. Very low costs on Government Marinas
10. Owner can freely use the yacht without VAT implications
11. Greek flag is the gate to a multimillion euro charter industry !!! 

Greek commercial yacht benefits and operational procedures

• There is no taxation related to the company’s charter income for the EU flagged yachts. Yachts are only liable to a yacht tonnage tax per year which is €70 for the first 10ogt and €1/gt thereafter;
• Subject to the fulfilment of the obligation to charter for a minimum number of days per year (currently 25/40 for crewed yachts – no restriction if the days are completed in Greece or abroad), the Owner(s) may use the yacht privately as much as they wish. During such private use though, there is no exception on VAT and supply of tax free fuel;
• Under a Greek charter license the yachts may embark and disembark from any Greek port;
• For yachts in international voyages, VAT on charters is discounted by 60% i.e. VAT 9.6%;
• For yachts in local voyages, within Greece only, VAT is discounted by 50% i.e VAT 12%;
• Under a Greek charter license the yachts need to complete formalities just at the embarking (starting) port releasing the obligation of formalities at every port as for other yachts;
• Other benefits exist under circumstances e.g. transit fuel on charters, VAT free berthing contract, exceptions on VAT for yacht refit, supplies, provisions, etc
• Foreign crew can be hired subject to be over the Minimum Safe Manning and further for yachts under 24 meters to be under a social security plan.