If you buy a yacht in Europe under 24 meters , Consider this option
Yachts under 24 meters and over 12 meters can be purchased VAT Free and run on a lower VAT Charter Rate if they are owned and operated by the same company .
The structure to take advantage of the Exemption of VAT Payment when you will be ready to buy the yacht and the lower VAT Rate on Charters during Chartering and VAT Exemptions and allowances in Marinas , Shipyards etc in Greece is the following :
We propose the establishment of an IKE
(IKE is a private capital company which has capital and the liability of its members for the company debts, except for those with guarantee contribution, is limited. This is our proposal to own a yacht or manage a yacht in Greece as it is flexible , fast and has the lowest operational costs)
An IKE will be established and receive VAT Number and with this number you will apply for the VAT Exemption of the purchase of the yacht and lower VAT Charter Rate .
With this corporate structure you will buy the yacht VAT Free .
After conclusion of the purchase the yacht will be owned by the Greek Company and will be registered in POLAND as a Commercial Yacht . After Inspection by a Recognised Organisation by the Greek Ministry of Merchant Marine and Insular Policy the yacht will be issued a Foreign Commercial Yacht Inspection Certificate .
Then it will be registered at the e-registry of ships held by the SEA TOURISM DEPARTMENT of the Greek Ministry of Merchant Marine and Insular Policy as a Foreign Commercial Yacht Operating in Greece and receive your unique e-registry number and Certificate of Entry .
The Certificate of Entry valid for 3 years is your Greek Charter License .
In the period of 3 years you will need to Charter your yacht minimum 105 Days in order to maintain the Commerciality and VAT Exemption . After the 3 years and subject the fulfilment of the minimum 105 days of Charter a new extension is given for another 3 years.
HOW TO FORM THE "IKE"
Following are the 2 options to form and run the Company in Greece
CASE No 1 : Formed by a minimum 1 EU Citizens
If you are an EU Citizen then you may freely establish an IKE as sole owner and manager and the company will be a Single Member Private Company (M.IKE) . At the same rules you may establish an IKE with more than 1 shareholder and the EU Citizen will be teh company director .
CASE No 2 : Formed by an EU Company based anywhere in Europe
In the event that your current EU Company is VAT Registered anywhere in Europe then it is very easy for this company to form an Single Member Private Company which will belong to your EU Company by 100% .
Thee EU Company will register the Yacht Owning Company or any Company which you will introduce us for TAX Registration in Greece as NON-RESIDENT .
This company will receive a TAX ID in Greece and will form a Single Member Private Company which will own and operate the yacht .
The type of the company IKE is a private capital company which has capital and the liability of its members for the company debts, except for those with guarantee contribution, is limited.
A Director should be appointed or a Nominee Director may be hired .
After you have decided about the yacht you wish to buy then we are proposing :