If you let me know some of your objectives, with my 14 years experience in the charter industry, I can help direct you to a yacht that will be a perfect fit and can help advise you on every aspect of your charter business plans.
There are also unique tax benefits to chartering your yacht. Our recreational tax advisor can work with you and your accountant to best structure your tax strategy.
Yes, it is very simple to purchase a yacht that is either managed in a charter fleet or a yacht that includes a charter business with bookings and marketing already in place.
Buying an existing charter yacht that already has a good reputation in the charter market with existing booking information online and marketing and sales material is an excellent value.
IS IT REALLY WORTH IT?
Living life the way you want is priceless. But really, how much is it going to cost? Earned income depends on the type of chartering you choose:
In bareboat (fully managed without full-time crew) – the boat income will cover its basic operating expenses and typically give the owner a contribution of income that will cover a principal and interest payment, generally assuming a 25% down and 7% financing over a 20year term.
With Crewed – the boat income will typically cover the majority of operating expenses, including crew’s salaries + insurance, but will provide minimal additional income for covering the financing expenses.
There are also added TAX BENEFITS to chartering your yacht.
The real value is your own enjoyment – sailing your own yacht in beautiful, pristine surroundings, cruising the waters of your choice.
Bareboat charters are usually based out of one location and are a hands-off charter management option for the owners. The charter company handles bookings, marketing and maintenance …all the owners need to do is enjoy sailing their yacht and cashing their income checks!
Most catamarans in The Catamaran Company (CATCO) charter fleet fall under this program. This in itself is a great investment, but along with this CATCO offers the highest rate percentage return of charter revenues than any other company in the industry. Our "77/23" program for bareboat charter owners has been aligned with that of the Crewed Yacht Industry and simply can not be beat! Along with this program is our "Yacht Exchange Policy" that gives owners the opportunity to trade time out against charter potential on an unlimited basis worldwide.
Bareboat charter yachts in The Catamaran Company fleet are typically in the 38’–50’ yacht range. Feel free to browse our charter proformas for performance estimates.
Crewed yachts have a permanent live-aboard captain and cook/hostess (These could be you!) The crewed yacht option is perfect for those hands-on owners who wish to run their own vessel and live the cruising lifestyle and also for those owners who want their captain and/or chef to live-aboard and take care of the yacht and guests while waiting for them to come back and enjoy.
If you want to operate your own yacht as captain, a crewed yacht (either power or sail) will be ideal. The crewed arrangement allows you the maximum in flexibility of location, utilization and itinerancy.
The Catamaran Company offers a crewed yachts program. CATCO has trade licensing in the BVI, no need to get your own, and can facilitate work permits for crewed yachts. By placing your yacht in our fleet – all licensing/permitting, marketing, booking is handled by us, no worries.
CATCO currently manages typically 38’–50’ yachts in bareboat and 40’–150’ crewed yachts. We welcome any discussions to place your yacht in our charter fleets!
If you want to run the yacht yourself, a crewed yacht will be your best option.
There is no sales/income tax or import duty for charter yachts in the British Virgin Islands (BVI). This and the beautiful waters available 12 months a year make the BVI a successful charter location. Over the course of the last few years the British Virgin Islands have proven to be one of the most fertile grounds anywhere in the world relative to the generation of income for the charter industry. Our charter fleet in Tortola, BVI can attest to that success; our bookings were up 29% in 2006 over 2005 and advanced 2007 bookings are already up 21%.
Among the BVI, popular charter vessel locations are scattered throughout the Caribbean (high season in winter), Mediterranean (high season in summer), your local ICWs and even remote locations such as Alaska. -- Where do you want to enjoy your yacht?
You don’t need to wait for your captain’s license to operate a vessel in the BVI.
Our documentation agents will advise you on the best way to own and document your charter business yacht (the most common are USCG documented LLC's and Caribbean documented International Business Corporation i.e. IBCs)
Yes, it is very simple to purchase a yacht that is either managed in a charter fleet or a yacht that includes a charter business with bookings and marketing in place.