The reality is that you should never underestimate the importance of having a thorough understanding of legal processes, legal certificates, transaction documents, tax positions and the various forms necessary to sell or purchase a super-yacht. Is the super-yacht funded? If so, the bank`s agreement is generally required for the sale. Are all the legal documents of the super-yacht correct? Are there any mortgages, fees or other charges recorded against the super-yacht (because they must be unloaded upon delivery)? This is a question that any prudent buyer should ask, and if you sell, you must make sure that you can provide the transcript of the recording that shows that your superyacht is not contaminated. The process can become more complicated if he registers mortgages against the super yacht. Do I want to keep the same flag? Will the current flag have an impact on the use of the super-yacht? What is related to changing flags? Will the new flag include this type of superyacht as a private or commercial superyacht? Surround yourself with people who know what they`re doing and have a good balance sheet, including: surveyor, lawyer, super-yacht manager, broker and vat/accountant advisor. Make sure your contract, specific terms and conditions are all available in writing. The most common form of the agreement for the sale and purchase of used super yachts is the Mediterranean Yacht Brokers Association (MYBA) form of sale and purchase, known as the MYBA Memorandum of Agreement (MYBA MOA). Additional conditions or changes to standard conditions must be recorded (for example.B. transfer of charters currently reserved for the season or works to be removed).
It is important that oral agreements be recorded in writing. You should think carefully before signing the staff guarantee that subscribes to the company`s sales or purchase obligations. This can affect the ownership structure you have carefully set up and cause tax law problems when selling. Are there any special conditions, or items I would like to leave on the superyacht (i.e. the transfer of impending charters or some items repaired before closing)? Is it a pleasure to superyacht and recorded in private, or do I want to charter the super yacht? Who`s my broker? Do I have to enter into an agency agreement? Is VAT on the super-yacht paid? Or is VAT accounted for? Has VAT been recovered? What should I do if the buyer changes the flag? Is the buyer known? Who is the ultimate economic owner? Do I want a personal/mother guarantee if an individual company is the buyer? Do I want a personal guarantee from the ultimate economic beneficiary or a mother guarantee from the sales company? Should delivery take place in international waters or within the EU? What should I do if I sell charters after closing? Необходим аккаунт? Зарегистрируйтесь сейчас! What will be my structure and do I need a VAT structure? Where do I feel comfortable with bail? What are the fencing mechanisms and how are the funds released? Will it be managed by SWIFT or by waiting for funds on the account or fast conditional (forecourt of funds, but will not be received until the delivery and acceptance protocol is signed)? To whom will the down payment be paid? It is customary for the real estate agent or the seller`s lawyer to cling to it.