Fractional Ownership

[Stuart Smith]

I am thinking about buying an equity stake in a 74'Azimut Solar with a company called Eusamarine in the UK, The yacht is to be located in the Western Mediteranean with options to swap to the Carribean etc when I want. Read all the stuff on their .com site and researched them, they seem excellent, but I'd like a few references if anyone has bought with them.

 

[bayman]

Re: Fractional Ownership

For this type of investment you really want to hire a reputable marine surveyor in the area. Preferably one who knows Azimut boats well and who knows the laws inside and out in the country where the boat will be registered and those where she will be visiting.<br /><br />I also suggest you talk to a good tax accountant. In some countries live-in boats can get a tax break. I don't know about partial ownership boats though...that's probably pushing it.<br /><br />- bayman

 

[Stuart Smith]

Re: Fractional Ownership

Thanks for the reply however all the boats are new build under Eusamarine and Wilson Yacht Management supervision (who have just completed a 70 metre project) at Azimut/Benetti itself. With regard to tax they have that covered too, they use Eversheds and HFW for the different contracts and most yachts are commercially registered, so I get all the tax benefits in addition they way they set up the ownership any devaluation can be accounted for on my tax return.