Vanuatu Announces Charter Legislation
Vanuatu has long been visited by superyachts for it's beautiful cruising, however up until recently has had no legislation in place for charter. The government has now passed legislation through parliament that will legitimise superyacht charter in the country. This will benefit the country of Vanuatu through a proper means of of collecting tax from charters as well as captains, brokers, owners and clients who will now have proper legislation to follow when chartering in Vanuatu.
The governemnt is collaborating with local yacht agents, Vanuatu Yacht Services, to put together documentation for the public outlining the legislation and explaining the practical application of the new laws.
The key points of the legislation as outlined by Vanuatu Yacht Services are:
- A foreign registered vessel valued at over $ 2,000,000 USD is defined as a superyacht.
- The vessel's statutory commercial documentation is a prerequisite to obtaining a charter licence.
- The legislation requires superyachts to retain the services of a licensed Vanuatu yacht agent.
- All superyachts are required to pay VAT on purchases and VAT on charters through the services of a Vanuatu yacht agent.
Visit our Yacht Support website for agency related services.