Yacht or ship owning is one of the growing demands that can be seen at a global level. The Shipping industry has been doing exceptionally well by providing numerous options to the high-net-worth-individuals and the multinational companies who hold a dream to invest in the same. An offshore jurisdiction turns out to be one of the beneficial grounds when it comes to owning a yacht. This guide outlines the core reasons that are the driving force that allows the business investors to come forward and invest in the same.
If you are planning to invest in an offshore ground, or to own a yacht, then this guide is a must-read for you.
Investing in the offshore business has been spiking up in different parts of the world. The demand has been continuously rising, and thus, most of the countries have converted themselves as the world’s popular tax-haven jurisdiction. Regions like the British Virgin Islands, Singapore, Switzerland, Cayman Islands has topped the list as they provide an excellent business infrastructure with numerous benefits to the owners. Yacht registration is one of the standard services that is provided in these jurisdictions and has been growing with time.
Core Reasons to Proceed with Offshore Yacht Registration
Some of the core reasons for business investors to proceed with offshore yacht registration are:
1.Sign of Luxury
Flagging a yacht, a power vessel, is a sign of luxury and fame that can be used for commercial as well as personal use like marriage, functions, business meetings, etc. It is a prestigious note to own a yacht, and over the years, business investors at a global level prefer to invest in it.
Tax is one of the major concerns for business investors around the world. By owning an offshore yacht, a business investor gets the flexibility to proceed with significant tax benefits. The offshore jurisdictions are targeted as tax-havens, and here’s a guide on How Can an Offshore Business Setup Lower Taxes, which is a must-read before proceeding towards offshore investment.
3.Easy Transfer of Registration
Most of the individual business owners proceed towards the yacht registration process, as the transfer of ownership is secure. Certain guidelines stated by the specific jurisdiction needs to be followed accordingly, and the results can be seen at a faster pace.
4.Offshore Company Registration
Owning a yacht in the offshore jurisdictions can also be done by opening an offshore company. Here’s a guide on How Does an Offshore Company Work, which will help you to understand the mechanism at ease.
5.No Restriction on Nationality
When it comes to offshore registration of yacht, there is no restriction based on nationality. Individuals and corporate entities from any corner of the world hold the flexibility to own a yacht in the popular offshore jurisdictions.
6.Easy Registration Process
Registering a yacht is a tedious task for foreign investors as they are not well-versed with the offshore legal regulations that need to be abiding by. To turn out the process hassle-free, business investors prefer to join hands with certified business professionals who can guide them accordingly. To know the benefits that one could derive, have a look at our latest guide on Four Core Reasons to Hire a Business Consultant. Hiring experts not only ease the process but also saves time and enhances quality.
Business Setup Worldwide has been standing as one of the top business consultants in the UAE, which has been guiding business investors to incorporate their business. Our business advisors are well-versed with the company incorporation process (onshore and offshore) and can help you in setting up your business at ease by providing tailored solutions. If you are looking forward to proceeding with yacht registration in the popular offshore jurisdictions, feel free to have a word with our experts. Contact us today-we’d be glad to assist.