Yacht outside the EU, this is how temporary admission works
The Central Legislative Department of the Customs Agency has provided someimportant clarificationson the temporary admission of yachts from outside the EU by Federico Santini* WITH A RECENT MEASURE ON THE SITUATION REGARDING the temporary admission of yachts flying flags of countries outside the EU, the Central Legislative Department of the Italian... Read more
Refitting and repairing: the shipowner’s main obligations
We will now look at the owner’s main obligations when refitting and repairing a yacht, according to the ICOMIA contract by Federico Santini* THE ANALYSIS OF THEICOMIA refit/repair contract form begun in previous months concludes with a review of the main obligations which the owner undertakes vis-a-vis theshipyard by... Read more
The clauses of the refit contract
Main clauses of the ICOMIA standard yacht refit/repair contract by Federico Santini* Recently we looked at yacht refitting and repair; we emphasised the fact that this particular area of the maritime industry has seen constant growth and that as a consequence various standard forms of refitting contracts have been... Read more
The refit contracts, how do they work?
 Let’s have a look at the yacht refitting and repair contract according to the ICOMIA contract model.  by Federico Santini* As shown by the latest CNA report on the yachting industry (Confederazione Nazionale dell’Artigianato e della Piccola e Media Impresa) in April 2018, the Refit & Repair industry has... Read more
SISTE: an important achievement
The Central Telematic System for pleasure yachting has been approved. Here’s how it is structured and how it will work. by Federico Santini* On 28th November 2018, the Italian Government approved the draft regulation providing rules for the implementation of the Central Telematic System for Yachting (“SISTE”). The regulation follows... Read more
Italian Leasing, EU starts infraction procedure against Italy
The European Commission announced it has sent Italy a letter of formal notice for not levying the correct amount of VAT on yacht leasing. by Federico Santini* The European Commission announced it has sent Italy a letter of formal notice for not levying the correct amount of VAT on... Read more
P&I Insurance in the yacht sector
Let’s examine some of the most relevant clauses of P&I insurance coverage in the yacht sector by Federico Santini* All yacht club P&I policies include a “pay to be paid” clause, meaning that you yourself have to have been found liable and required to pay third party damages before... Read more
Yacht Engaged in Trade, a third form of registration for yachts
Thanks to the Yet, Yacht Engaged in Trade programme, all the boats with a length exceeding 24 meters can be enrolled as pleasure yachts in the Cayman Islands Shipping Registry by Federico Santini* On 19 December 2017, the Maritime Authority of the Cayman Islands issued Shipping Notice no. 03/2017 allowing... Read more
VAT exemption, what are the rules?
Commercial yachts: the difficult issue of VAT exemption. Those who sail “on the high seas” can enjoy it if they provide suitable “official documentation”. But what is meant by these definitions? by Federico Santini* In 2017 the Italian Revenue Office issued resolution no. 2/E dated 12 January 2017 providing new... Read more
How to raise complaints during a superyacht charter?
We are analyzing what the methods of reporting complaints raised by a charterer during his rental are by Federico Santini* Clause 21 of the Myba Charter Agreement regulates the terms for reporting and solving any problems reported by the charterer during the charter period. The clause requires any complaints... Read more