Previous client due diligence
Due diligence is an essential part of securing Superyacht charter operations in Spain and involves a thorough assessment of the ‘target’, associated products, financial business records and business plan with the aim of confirming information in these important business documents as well as validating the sale prospect.
A special purpose vehicle/entity (SPV/SPE) is a subsidiary company with an asset/liability structure designed to optimize chartering taxation. These entities are especially interesting in cases where the owning structure of the vessel involves a very high taxation.
Spanish & EU VAT registration
According to the changes implemented in the rules concerning the place of supply of services of the EU VAT directive, non-resident traders, both EU and non-EU yacht owning companies, need to appoint a fiscal representative or fiscal agent to represent them in the EU country where they do business. Registration for VAT purposes in Spain is not a matter of option but depends on the operations a company carries out within the Spanish VAT territory. Our firm can assist in registering your business in Spain within a maximum of 24 hours.
Spanish yacht charter licenses
Chartering in Spain is subject to prior authorization from Spanish authorities; chartering without applying for the necessary permits might involve serious penalties. The licensing process requires obtaining a permit from the Spanish maritime authorities and in some regions, as it happens in the Balearics Islands, an additional permit from the regional authorities. Tax Marine will assist you from A to Z in the whole process. We will organize your document collection, checking documentation to ensure conformity to requirements, filing of application forms and submission to the authorities, payment of stamp duties for charter license and also collect licenses from authorities.