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Id238 ms super-yachtsbrochure-v18-hr


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Moore Stephens Isle of Man provide tailored Superyacht services to meet your needs.

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Id238 ms super-yachtsbrochure-v18-hr

  1. 1. SuperyachtsMoore Stephens YachtingIsle of PRECISE. PROVEN. PERFORMANCE.
  2. 2. Moore StephensSuperyachts 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.2 Moore Stephens Isle of Man Superyachts
  3. 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 Moore Stephens Isle of Man Superyachts 3
  4. 4. We are known for our private client solutions, including yacht ownership structuring... and very special client service .4 Moore Stephens Isle of Man Superyachts
  5. 5. ExpertiseThis is where Moore Stephens comes in – with unrivalled skill andefficiency. Our aim is to maximise the return on our client’sinvestment and ensure that the commitment made to ownershipis properly rewarded.Moore Stephens are international accountants but ourtraditions are maritime. Our specialised knowledge andexperience are proven. Our professionalism is uncompromising.Our service is global and truly comprehensive.And, on your behalf, we focus all that on making Superyachtownership plain sailing. Moore Stephens Isle of Man Superyachts 5
  6. 6. Ownership services It’s true that yacht ownership brings complications with Accounting undoubted pleasure. But carefully structured yacht ownership We help with every aspect of the accounts function, from and attention to detail ensures you don’t have to worry. That’s day-to-day administration to annual financial statements. where we come in. We work with your staff. We can provide structured training or We specialise in forming and managing yacht ownership in we can offer a complete outsourced accounting function. You selected jurisdictions. say how you want it to work; we make it happen. We also offer a complete suite of corporate and trust VAT/TVA services - from registered office or place of business, personal VAT compliance is an unavoidable fact of European yachting. wealth management, directorship and trusteeship and active administration to secretarial support. We provide VAT services including VAT registration, official VAT clearance documents, on-going assistance and guidance, VAT Our expert assistance pays dividends in many other areas… reclaims and many more. We offer all these services on a contractual or as-needed basis, acting either as Manager or as Yacht registration Fiscal Agent. A yacht’s registration is her passport to sail international waters. But the registration process itself raises important considerations. Each situation is different so a global perspective is essential. We Under which flag should your yacht sail? What is the best way to pride ourselves on selecting the ideal jurisdiction. communicate with the issuing authorities and should this be by way of a representative person? Our base happens to be in the Isle of Man - a part of the European Union (“EU”) Customs and VAT system but, crucially, Which manning and licensing issues affect Flag State compliance independent in other matters including taxation. This and what is the most efficient way to handle them? combination of independence and privileged links with the EU, together with a zero tax regime for business, makes the Island a When it comes to Superyacht registration, we know the unique venue offering substantial financial benefits for both EU problems. Most importantly, we have the solutions. and international yachting business.6 Moore Stephens Isle of Man Superyachts
  7. 7. “ Moore Stephens excel at providing comprehensive, proactive and innovative advice for Superyachts.” Moore Stephens Isle of Man Superyachts 7
  8. 8. Nothing about our luxury assetservice is standard. 8 Moore Stephens Isle of Man Superyachts
  9. 9. InsuranceMoore Stephens is a 100 year old name, long associated with Luxury asset insurancespecialist asset types and services. Yachts and their contents, fine art, jewellery and antiques, private jets and helicopters are all confirmation of their owners’ success.Superyacht insuranceCovers not only the yacht, but can also include: Luxury assets by definition are in a class of their own – that• tenders; means bespoke insurance.• private submarines;• diving gear; Unsurprisingly, protecting luxury assets and their owners is not• engines and machinery; simple.• fine art; and• personal effects. We deal directly through our Lloyd’s authorised brokers and with the underwriters themselves whenever possible to negotiate theThird party liabilities perfect tailor made package to suit your needs.Covering liability to third parties for bodily injury or propertydamage caused by you, your guests, your yacht or crew is vital.To ensure comprehensive coverage we arrange this throughinsurers, a PI Club or using a combination of both.Normally cover up to US$500 million is available.Hull warThis specifically covers strikes and civil commotion risks as well aswar - 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. Moore Stephens Isle of Man Superyachts 9
  10. 10. Crew employment, payroll, welfare and benefits Loyalty works both ways. Invest in your crew through our crew International FlexiPlan solutions and they will pay you back with their commitment to The International FlexiPlan allows access to carefully selected you and your yacht. balanced portfolios with appropriate risk profiles. The International FlexiPlan includes only those investment houses with impeccable Crew employment reputations. The safe, efficient and smooth operation of a luxury yacht demands a crew of the highest standard in every area. Our competitive fees and charges minimize the impact on investments. To attract such high-calibre crew members our tailor-made international employment packages include an outstanding range Online secure access (and iApps) empower the seafarer to make of benefits, health plans, personal and general insurance and regular decisions about their investments. flexible retirement provisions. Crew benefits Crew payroll We also offer assistance to all crew members – irrespective of It goes without saying that ownership and operation matters are nationality – on taxation, international bank accounts and credit/ strictly confidential - that includes crew employment terms and debit cards. 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.10 Moore Stephens Isle of Man Superyachts
  11. 11. “ High net worth clients and companies require prompt, cost effective service that is a cut above the rest - Moore Stephens deliver.” Moore Stephens Isle of Man Superyachts 11
  12. 12. Superyacht ownership is aboutprestige, elegance, exotic ports ofcall. It is about a quest for theideal. It is also (in case you hadforgotten) about hard finance.12 Moore Stephens Isle of Man Superyachts
  13. 13. ConsultancyManagement Accountancy and auditAll yacht owners do not necessarily share identical perspectives or It goes without saying that individuals, companies and trusts haveobjectives. But whether they aim to protect assets or to gain specific accounting requirements.access to new markets, the right corporate medium or trustvehicle is vital if the optimal structuring of vessel ownership, Our forensic accounting services team is a highly specialised unitregistration and operation is to be achieved. with extensive experience in dealing with dispute analysis and investigations into commercial and contractual, as well asWhatever the client’s needs, we offer a solution tailored to match shipping and insurance disputes including fraud and falsethem, exactly. accounting.Taxation Finance and insuranceCompliance and efficiency - the two tax fundamentals of yacht We act as financial adviser for a wide variety of projects forownership and management systems. Our tax advisory service is individual and corporate yacht owners, shipyards, investmentdesigned to ensure that those criteria are always met. groups and leasing companies. Our experience, contacts and reputation also allow us to offer insurance packages on aWe will clarify and offer guidance on the tax ramifications of best-offer-best-cover basis - comprehensive in terms both ofcontracts to buy, sell or build a yacht. It’s a fast moving area, so cover and value - for yachts and their crew.we keep our clients abreast of recent developments with regularupdates via electronic newsflashes and a topical newsletter. Global assignments Our global reach enables us to make introductions and serviceEU VAT reclaims assignments all over the world.It does not make good business sense to leave your EuropeanVAT unclaimed. We can maximize your recovery by reviewingyour company expense files in order to extract the relevantinvoices and receipts.We do all the work allowing you to enjoy yacht ownership. Moore Stephens Isle of Man Superyachts 13
  14. 14. 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…14 Moore Stephens Isle of Man Superyachts
  15. 15. ...because we are known tobe pre-eminent in a highlyspecialised field. And becausewe think and operate globally. Moore Stephens Isle of Man Superyachts 15
  16. 16. “ Moore Stephens provide excellent advice in a very timely manner.”16 Moore Stephens Isle of Man Superyachts
  17. 17. Contact usMoore Stephens Isle of Man26-28 Athol StreetDouglasIsle of ManIM1 1JBBritish IslesT +44 (0)1624 662020F +44 (0)1624 662430Ayuk Ntuiabane - ayuk.ntuiabane.msiomGrant Atchison - grant.atchison.msiomClive Dixon - clive.dixon.msiom Moore Stephens Isle of Man Superyachts 17
  18. 18. Moore StephensCompanies Moore Stephens Isle of Man is a member of Moore Stephens Moore Stephens Consulting Limited* International Limited, a worldwide network of independent firms. A company incorporated in the Isle of Man Certain services described in this brochure are regulated and such No.071416C. services are provided by the appropriate registered or licensed Moore Stephens entity listed below. Moore Stephens Crew Benefits Limited* A company incorporated in the Isle of Man No.124557C. Moore Stephens Brokers Limited* A company incorporated in the Isle of Man No.126547C. Moore Stephens Crewing ICC Limited Registered with the Insurance and Pensions Authority in respect A company incorporated in Guernsey No.48540. Registered of General Business. office: Town Mills South, La Rue du Pre, St. Peter Port, Guernsey Channel Islands, GY1 3HZ. Moore Stephens Financial Services Limited* A company incorporated in the Isle of Man No.111421C Moore Stephens Aviation** Licensed to conduct Investment Business by the Isle of Man Registered trading name of Moore Stephens Trust Company Financial Supervision Commission. Limited. Moore Stephens Retirement Solutions Limited* Moore Stephens Yachting** A company incorporated in the Isle of Man No.123460C. Registered trading name of Moore Stephens Trust Company Registered with the Isle of Man Insurance and Pensions Authority Limited. as a Professional Retirement Benefits Schemes Administrator. Moore Stephens Chartered Accountants* Moore Stephens Trust Company Limited* Registered by the Institute of Chartered Accountants in England A company incorporated in the Isle of Man No.081489C and Wales to carry out company audit work. Licensed by the Isle of Man Financial Supervision Commission as a Corporate and Trust Service Provider. Registered office* and place of business**: 26-28 Athol Street, Douglas, Isle of Man IM1 1JB, British Isles.18 Moore Stephens Isle of Man Superyachts “Quotations” represent a genuine testimony from a client of Moore Stephens Isle of Man.
  19. 19. “ Moore Stephens are consummate professionals who offer a complete solution to yacht ownership” Moore Stephens Isle of Man Superyachts 19
  20. 20. Moore Stephens Yachting, 26-28 Athol Street, Douglas, Isle of Man,IM1 1JB, British Isles T +44 (0)1624 662020 F +44 (0)1624 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 professionaladvice. 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. April2012BR238.1