CHARTER LICENSE

GREEK CHARTER LICENSE

We arrange 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. The most important issue, for the foreign flagged yachts, is that: 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. 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

Procedures

1) Yacht’s Papers and Company’s Papers will be translated in Greek and will be notarized by a local Lawyer.

2) Owner and Manager will sign the COMMERCIAL YACHT MANAGEMENT – ASSIGNMENT – HANDLING AGREEMENT.

3) The Yacht will be registered at the Electronic Register Of Ships as a Greek Yacht Licensed Foreign Commercial Yacht.

4) Local Classification which we will appoint after inspection will issue the FOREIGN COMMERCIAL YACHT INSPECTION CERTIFICATE a compulsory certificate for the License.

5) One set of documents and declaration will be filed at the VAT Department of the Tax Office or at Customs and One File together with an one time Administrative Fee will be sent to the Ministry Of Merchant Marine & Island Policy / Sea Tourism Department.

6) After evaluation and if all documents are in order the authorities will issue a certificate of Entry to the Electronic Register of Ships as Greek Licensed Yacht.

GREEK YACHT CHARTER LICENSE FOR FOREIGN FLAG YACHTS

GENERAL INFORMATION ABOUT GREEK CHARTER LICENSE

On the 1st of December a new legislation (L4504/2017) entered into force.

The most important issue, for the foreign flagged yachts, is that:

• ALL Commercial yachts under an EU flag.

• 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.

VAT ON CHARTERS

If the charter starts and ends in Greece (Between Greek Ports) 12%

If the Charter Extends Abroad (Turkey , Albania etc ) 9.6 %

If the Charter Starts and Ends aboard. 0%

TAXATION

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.

VAT OR TAX FREE ALLOWANCES

Other benefits exist under circumstances e.g. transit fuel on charters, VAT free berthing contract, exceptions on VAT for yacht refit, supplies, provisions, etc.

PRIVATE USE OF THE YACHT | OWNER'S USE

Subject to the fulfillment 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 .

CREW

According to the National Legislation of Malta or UK there is no Nationality Restriction thus the Greek Government has issued a Ministerial Degree to all Port Authorities to inspect the yachts as far as the crew only for their diplomas according to their rank and not according to its Nationality.

What it is included:

1. Yacht's Papers and Company's Papers will be translated in Greek and will be notarized by a local Lawyer .

2. Owner and Manager will sign the COMMERCIAL YACHT MANAGEMENT – ASSIGNMENT – HANDLING AGREEMENT

3. The Yacht will be registered at the Electronic Register Of Ships as a Greek Yacht Licensed Foreign Commercial Yacht .

4. INSB after inspection will issue the FOREIGN COMMERCIAL YACHT INSPECTION CERTIFICATE a compulsory certificate for the License .

5. One set of documents and declaration will be filed at the VAT Department of the Tax Office or at Customs and One File together with an one time. Administrative Fee of € 500 will be sent to the Ministry Of Merchant Marine & Island Policy / Sea Tourism Department.

6. After evaluation and if all documents are in order the authorities will issue a certificate of Entry to the Electronic Register of Ships as Greek Licensed Yacht.

Minimum days of charter to do over a three years period.

105 days if yacht chartered without crew (bareboat charters)
75 days for yachts chartered with crew or 25 days for traditional yachts.

Reductions depending upon the age of the yacht.
5% Yachts of 5 Years of age
10% Yachts of 10 years of age
15% Yachts of 15 years of age
20% Yachts of 20 years of age
There is No minimum days requirement for VAT paid yachts.

When this document will arrive we will issue from the Port Master's Office all documents and booklets for the Chartering In Greece.