Gibraltar vs Madeira for yachts
Everything we track for both registers, side by side. Rows neither register has published show a gap rather than an estimate.
Is Gibraltar or Madeira cheaper for yacht registration?Link to this section
The registration fee is the entry charge the Gibraltar Yacht Registry sets in the Gibraltar Maritime Administration's Fees Brochure, banded by size, use and tonnage, and the Madeira International Shipping Register levies under its recreational-craft Portaria. Gibraltar renews the Certificate of Registry yearly; Madeira charges an annual fee. WhichFlagToFly dates the Gibraltar and Madeira fee rows.
| Register | Initial registration fee | Annual fee |
|---|---|---|
| Gibraltar | Registration fees run £254 to £1,264, banded by size, use and tonnage.Fees Brochure, effective from 1st August 2026, Gibraltar Maritime Administrationgibraltarship.com · p. 4Retrieved 2026-08-27Effective 2026-08-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Renewal costs £29, £80 or £125 for each year applied for, by class.Fees Brochure, effective from 1st August 2026, Gibraltar Maritime Administrationgibraltarship.com · p. 4Retrieved 2026-08-27Effective 2026-08-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Madeira | Initial registration is €500 for a private yacht, or €1,250 plus a gross tonnage charge for a commercial yacht.Portaria n.º 145/2003, de 29 de outubro (amends articles 2.º, 4.º and 5.º of Portaria n.º 135/94, de 1 de agosto, the fee regime for recreational craft registered in MAR), Jornal Oficial da Região Autónoma da Madeira, I Série, n.º 122joram.madeira.gov.pt · Portaria n.º 145/2003, art. 1.º (Portaria n.º 135/94, art. 2.º(2)(a))Retrieved 2026-08-29Effective 2003-10-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The annual fee is €500 for a private yacht up to 24 meters, or €1,000 plus a gross tonnage charge for a commercial yacht.Portaria n.º 145/2003, de 29 de outubro (amends articles 2.º, 4.º and 5.º of Portaria n.º 135/94, de 1 de agosto, the fee regime for recreational craft registered in MAR), Jornal Oficial da Região Autónoma da Madeira, I Série, n.º 122joram.madeira.gov.pt · Portaria n.º 145/2003, art. 1.º (Portaria n.º 135/94, art. 2.º(2)(b))Retrieved 2026-08-29Effective 2003-10-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
Which flag is better for EU chartering, Gibraltar or Madeira?Link to this section
Charter permission is what a flag lets a yacht do for reward. Madeira is an EU register, so the EU maritime cabotage Regulation opens commercial trips between Member State ports. Gibraltar sits outside that Regulation's protected class, its registry splitting one register by use and by size. See the charter rows.
| Register | Charter permissions | Private and commercial regimes |
|---|---|---|
| Gibraltar | Gibraltar sits outside EU cabotage rights, and US coastwise rules restrict passenger voyages.Council Regulation (EEC) No 3577/92 of 7 December 1992 applying the principle of freedom to provide services to maritime transport within Member States (maritime cabotage), EUR-Lexeur-lex.europa.eu · Art. 1(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | One register, split into three fee classes by use and by the 24 meter line.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 4(1)(c)(ii)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Madeira | An EU flag opens Member State cabotage for commercial trips, but confers nothing in United States waters.Council Regulation (EEC) No 3577/92 of 7 December 1992 applying the principle of freedom to provide services to maritime transport within Member States (maritime cabotage), EUR-Lexeur-lex.europa.eu · art. 1(1)Retrieved 2026-08-18Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | One register serves both, with recreational craft carved out of crew quota, cabotage and mortgage-enforcement rules.Decree-Law nr. 96/89, of 28 March, consolidated English text as amended through Decree-Law no. 17/2022, published by SDM - Sociedade de Desenvolvimento da Madeira (concessionaire of the Madeira International Business Centre)www.ibc-madeira.com · art. 15(5)Retrieved 2026-08-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
How does VAT differ between Gibraltar and Madeira?Link to this section
Import VAT is the tax charged on a yacht entering a tax territory. Gibraltar has no VAT, and HM Government of Gibraltar states that its Transaction Tax on goods is not a value added tax. Madeira is inside the European Union VAT area and applies the reduced regional rates the Autoridade Tributaria e Aduaneira publishes. See the VAT rows.
| Register | VAT rate | Basis for VAT on import |
|---|---|---|
| Gibraltar | Gibraltar has no VAT. A Transaction Tax on goods, not services, replaces import duty; yachts appear in neither its reduced nor its super-reduced rate table.Government corrects transaction tax misinformation, press release 201/2026, HM Government of Gibraltarwww.gibraltar.gov.gi · press release 201/2026Retrieved 2026-09-12Effective 2026-07-15Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Transaction Tax on imports is charged on customs value plus duties, transport and insurance.Treaty on Gibraltar and the European Union Act 2026 (Act No. 2026-11), consolidated text at the current version 15/07/2026 (amendments listed to LN. 2026/204), gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · s. 98(1)Retrieved 2026-08-29Effective 2026-07-15Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Madeira | Madeira's rates are 4 percent reduced, 12 percent intermediate and 22 percent standard, against 6, 13 and 23 percent on the mainland.Ofício Circulado n.º 25045, de 2024-12-06, 'IVA, Taxas aplicáveis às Regiões Autónomas', Direção de Serviços do IVA, Autoridade Tributária e Aduaneirainfo.portaldasfinancas.gov.ptRetrieved 2026-08-12Effective 2024-10-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Import VAT is charged on the customs value, plus duties and accessory costs to the first destination.Código do IVA, artigo 17.º (Valor tributável nas importações), Autoridade Tributária e Aduaneira, info.portaldasfinancas.gov.ptinfo.portaldasfinancas.gov.pt · art. 17.º(1)Retrieved 2026-08-12Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
Which register is faster, Gibraltar or Madeira?Link to this section
Provisional registration is short-term entry before the full certificate. The Gibraltar Yacht Registry grants it under the Merchant Shipping (Pleasure Yachts) Regulations, which also fix the deadline for completing the file. Madeira registers a recreational craft definitively from the outset, provisional entry being the exception. Compare the timeline rows.
| Register | Provisional registration | Time to full registration |
|---|---|---|
| Gibraltar | Provisional registration lasts ninety days, extendable to 180 days in total.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 22(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The registry publishes a 24 hour turnaround on official documents, and full registration must follow provisional within ninety days, or 180 with an extension.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 22(1)(b)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Madeira | Provisional registration is an exception for a yacht: it runs 90 days on a core set of four documents, extendable once by up to 30 days on request or 60 days by the technical commission.Decreto-Lei n.º 192/2003, de 22 de agosto, and the annexed regulation applicable to recreational craft registered or to be registered in the Madeira International Shipping Register, Diário da República, I Série-A, n.º 193, 22 August 2003, pp. 5420 to 5424files.diariodarepublica.pt · Anexo, art. 4.º(2)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | No published processing time; provisional entry available, then 90 days to complete the file.Decreto-Lei n.º 192/2003, de 22 de agosto, and the annexed regulation applicable to recreational craft registered or to be registered in the Madeira International Shipping Register, Diário da República, I Série-A, n.º 193, 22 August 2003, pp. 5420 to 5424files.diariodarepublica.pt · Anexo, art. 3.º(1)–(2)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
How should an owner choose between Gibraltar and Madeira?Link to this section
Both flags face the Mediterranean, so the choice runs on customs and charter rather than geography: whether the yacht wants an EU flag and an EU VAT position, whether she will be sold for hire, and how the owning entity is licensed. A specialist can weigh both registers.
At a glance
The dimensions owners decide on, taken from the rows below. Follow a label to the row it came from and its source.
| Dimension | Gibraltar | Madeira |
|---|---|---|
| EU member state | No | Yes |
| Red Ensign Group | Yes | No |
| EASA member state | No | Yes |
| Time to full registration | 180 days | 60 days |
Cost and timing, compared
Bars drawn from the published rows on this page. Figures are never converted between currencies and never estimated. Where one register publishes nothing comparable, there is no chart.
Time to full registration, compared
The longest window each register publishes for completing registration, in days. What that window is differs by register. Each one's own description is in the table below.
| Register | Figure | What it covers | Item |
|---|---|---|---|
| Gibraltar | 180 days | statutory deadline | Time to full registration |
| Madeira | 60 days | Published outer window | Time to full registration |
Registers measure time differently, and a service turnaround is not a statutory deadline. Only day counts of the same kind are charted together. Each register's full wording is in the table on this page.
Line by line
| Item | GIGibraltarGibraltar Yacht Registry | PT-MADMadeiraMadeira International Shipping Register (MAR) |
|---|---|---|
| Registration | ||
| Who may own a registered vessel | A majority interest must sit with qualified owners; non-resident owners appoint a representative person and registered agent.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 4(1)(b)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Both free-zone licensed entities and outside entities may register; licensed entities face no nationality or residence test on their management.Decree-Law nr. 96/89, of 28 March, consolidated English text as amended through Decree-Law no. 17/2022, published by SDM - Sociedade de Desenvolvimento da Madeira (concessionaire of the Madeira International Business Centre)www.ibc-madeira.com · art. 15(1)Retrieved 2026-08-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Which vessels qualify | There is no age limit: yachts of any age register if seaworthy, and refusal turns on condition, sanctions, a prohibited class or unpaid fees.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 4(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | No maximum age: the technical commission decides case by case, and MAR accepts commercial yachts of 7 to 50 meters carrying up to 12 passengers plus crew, and pleasure yachts above 7 meters.Decreto-Lei n.º 17/2022, de 18 de janeiro (Diário da República, 1.ª série, n.º 12), tenth amendment to Decreto-Lei n.º 96/89, published by the Governo Regional da Madeirawww.madeira.gov.ptRetrieved 2026-08-12Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Private and commercial regimes | One register, split into three fee classes by use and by the 24 meter line.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 4(1)(c)(ii)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | One register serves both, with recreational craft carved out of crew quota, cabotage and mortgage-enforcement rules.Decree-Law nr. 96/89, of 28 March, consolidated English text as amended through Decree-Law no. 17/2022, published by SDM - Sociedade de Desenvolvimento da Madeira (concessionaire of the Madeira International Business Centre)www.ibc-madeira.com · art. 15(5)Retrieved 2026-08-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Initial registration fee | Registration fees run £254 to £1,264, banded by size, use and tonnage.Fees Brochure, effective from 1st August 2026, Gibraltar Maritime Administrationgibraltarship.com · p. 4Retrieved 2026-08-27Effective 2026-08-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Initial registration is €500 for a private yacht, or €1,250 plus a gross tonnage charge for a commercial yacht.Portaria n.º 145/2003, de 29 de outubro (amends articles 2.º, 4.º and 5.º of Portaria n.º 135/94, de 1 de agosto, the fee regime for recreational craft registered in MAR), Jornal Oficial da Região Autónoma da Madeira, I Série, n.º 122joram.madeira.gov.pt · Portaria n.º 145/2003, art. 1.º (Portaria n.º 135/94, art. 2.º(2)(a))Retrieved 2026-08-29Effective 2003-10-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Annual fee | Renewal costs £29, £80 or £125 for each year applied for, by class.Fees Brochure, effective from 1st August 2026, Gibraltar Maritime Administrationgibraltarship.com · p. 4Retrieved 2026-08-27Effective 2026-08-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The annual fee is €500 for a private yacht up to 24 meters, or €1,000 plus a gross tonnage charge for a commercial yacht.Portaria n.º 145/2003, de 29 de outubro (amends articles 2.º, 4.º and 5.º of Portaria n.º 135/94, de 1 de agosto, the fee regime for recreational craft registered in MAR), Jornal Oficial da Região Autónoma da Madeira, I Série, n.º 122joram.madeira.gov.pt · Portaria n.º 145/2003, art. 1.º (Portaria n.º 135/94, art. 2.º(2)(b))Retrieved 2026-08-29Effective 2003-10-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Tonnage dues | A private pleasure yacht pays no Annual Tonnage Tax, only the £80 annual renewal; a commercial yacht pays £2,000 to £6,000 a year by tonnage.Fees Brochure, effective from 1st August 2026, Gibraltar Maritime Administrationgibraltarship.com · Annual Tonnage Tax, Table 1Retrieved 2026-09-01Effective 2026-08-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | No separate tonnage due; gross tonnage only sets the variable part of the registration and annual fees.Portaria n.º 145/2003, de 29 de outubro (amends articles 2.º, 4.º and 5.º of Portaria n.º 135/94, de 1 de agosto, the fee regime for recreational craft registered in MAR), Jornal Oficial da Região Autónoma da Madeira, I Série, n.º 122joram.madeira.gov.pt · Portaria n.º 145/2003, art. 1.º (Portaria n.º 135/94, art. 2.º(2)(b))Retrieved 2026-08-29Effective 2003-10-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Provisional registration | Provisional registration lasts ninety days, extendable to 180 days in total.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 22(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Provisional registration is an exception for a yacht: it runs 90 days on a core set of four documents, extendable once by up to 30 days on request or 60 days by the technical commission.Decreto-Lei n.º 192/2003, de 22 de agosto, and the annexed regulation applicable to recreational craft registered or to be registered in the Madeira International Shipping Register, Diário da República, I Série-A, n.º 193, 22 August 2003, pp. 5420 to 5424files.diariodarepublica.pt · Anexo, art. 4.º(2)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Time to full registration | The registry publishes a 24 hour turnaround on official documents, and full registration must follow provisional within ninety days, or 180 with an extension.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 22(1)(b)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | No published processing time; provisional entry available, then 90 days to complete the file.Decreto-Lei n.º 192/2003, de 22 de agosto, and the annexed regulation applicable to recreational craft registered or to be registered in the Madeira International Shipping Register, Diário da República, I Série-A, n.º 193, 22 August 2003, pp. 5420 to 5424files.diariodarepublica.pt · Anexo, art. 3.º(1)–(2)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Mortgage registration | Mortgages rank by the date and time of recording; fees run £87 to £225.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 53Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Mortgages take written authenticated form, and the parties may choose and register the governing law.Decree-Law nr. 96/89, of 28 March, consolidated English text as amended through Decree-Law no. 17/2022, published by SDM - Sociedade de Desenvolvimento da Madeira (concessionaire of the Madeira International Business Centre)www.ibc-madeira.com · art. 14(4)Retrieved 2026-08-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Survey requirements | A tonnage certificate and a class or seaworthiness certificate dated within ten days are required at registration, yachts of 24 m and over must be classed (Large Yacht Code for those carrying no more than 12 passengers, Passenger Yacht Code above that), and an existing LY3 certification stays valid with no Gibraltar cut-off.Survey of Commercial Yachts, Gibraltar Maritime Administration (gibraltarship.com)gibraltarship.comRetrieved 2026-09-02Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Every yacht needs a registration survey report to register; private yachts are then surveyed at five years and every three years after, commercial yachts annually with a dry-dock hull survey every two years.Decreto-Lei n.º 192/2003, de 22 de agosto, and the annexed regulation applicable to recreational craft registered or to be registered in the Madeira International Shipping Register, Diário da República, I Série-A, n.º 193, 22 August 2003, pp. 5420 to 5424files.diariodarepublica.pt · Anexo, art. 5.º(1)(g) and art. 10.º(1)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| MCA code equivalents | Gibraltar applies the REG Yacht Code Part A rather than writing a code of its own.Shipping Information Notice 124, The Red Ensign Group (REG) Yacht Code Part A, issued 10 July 2025 by the Chief Surveyor, Gibraltar Maritime Administrationgibraltarship.comRetrieved 2026-08-27Effective 2025-07-10Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Certification rests on international conventions and recognized classification societies; no UK or Red Ensign yacht code applies.Order nr. 715/89 of 23 August and its annexed MAR Regulation, consolidated English text as amended through Ordinance no. 114/2025/1 of 14 March, published by SDM - Sociedade de Desenvolvimento da Madeirawww.ibc-madeira.com · art. 19Retrieved 2026-08-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Charter permissions | Gibraltar sits outside EU cabotage rights, and US coastwise rules restrict passenger voyages.Council Regulation (EEC) No 3577/92 of 7 December 1992 applying the principle of freedom to provide services to maritime transport within Member States (maritime cabotage), EUR-Lexeur-lex.europa.eu · Art. 1(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | An EU flag opens Member State cabotage for commercial trips, but confers nothing in United States waters.Council Regulation (EEC) No 3577/92 of 7 December 1992 applying the principle of freedom to provide services to maritime transport within Member States (maritime cabotage), EUR-Lexeur-lex.europa.eu · art. 1(1)Retrieved 2026-08-18Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew certification requirements | STCW applies to Gibraltar ships except pleasure yachts not engaged in trade; UK-MCA certificates are recognized.Gibraltar Merchant Shipping (Manning, Training and Certification for Seafarers) Regulations 2006 (LN. 2006/023), consolidated text, gibraltarlaws.gov.giwww.gibraltarlaws.gov.gi · reg. 3(1)(a)Retrieved 2026-08-27Effective 2006-04-06Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | A 30 percent Portuguese, European or Portuguese-speaking crew quota applies, but never to recreational craft.Decree-Law nr. 96/89, of 28 March, consolidated English text as amended through Decree-Law no. 17/2022, published by SDM - Sociedade de Desenvolvimento da Madeira (concessionaire of the Madeira International Business Centre)www.ibc-madeira.com · art. 20(1) and (3)Retrieved 2026-08-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Maritime Labour Convention applicability | The MLC catches yachts ordinarily engaged in commercial activity and leaves private yachts out.Gibraltar Merchant Shipping (Maritime Labour Convention) Regulations 2013 (LN. 2013/120), consolidated text, gibraltarlaws.gov.giwww.gibraltarlaws.gov.gi · reg. 3(1)(a)Retrieved 2026-08-27Effective 2013-08-20Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The Maritime Labour Convention binds Portuguese-flag ships, Portugal having ratified it in January 2015; crew terms follow the international conventions in force in Portugal, with mandatory sickness, occupational disease and maternity cover.Decree-Law nr. 96/89, of 28 March, consolidated English text as amended through Decree-Law no. 17/2022, published by SDM - Sociedade de Desenvolvimento da Madeira (concessionaire of the Madeira International Business Centre)www.ibc-madeira.com · art. 22Retrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Paris MoU standing | White List, rank 28, with 250 inspections and 6 detentions across 2023 to 2025.Performance Lists, Paris MoU 2025 Annual Report (published 1 July 2026), Paris Memorandum of Understanding on Port State Controlparismou.org · Flag Performance – White ListRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | White List under the Portuguese flag, ranked 14 of 69 on 2,268 inspections and 58 detentions over 2023 to 2025.Performance Lists, Paris MoU Annual Report 2025 (published 1 July 2026), Paris Memorandum of Understanding on Port State Controlparismou.org · Flag Performance – White ListRetrieved 2026-08-18Effective 2026-07-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Documents required | A declaration of ownership, a builder's certificate or bill of sale, the registered agent's appointment and a tonnage certificate are required.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 15(3)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The application needs proof of ownership, the previous deletion certificate, a survey report, two photographs and any mortgagee's consent.Decreto-Lei n.º 192/2003, de 22 de agosto, and the annexed regulation applicable to recreational craft registered or to be registered in the Madeira International Shipping Register, Diário da República, I Série-A, n.º 193, 22 August 2003, pp. 5420 to 5424files.diariodarepublica.pt · Anexo, art. 5.º(1)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Renewal cycle | Registration lasts one year and renews for one to five years; sixty days late means termination.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 28(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | There is no published fixed term or periodic re-registration; the recurring obligation is the annual maintenance fee, due every 12 months.Portaria n.º 145/2003, de 29 de outubro (amends articles 2.º, 4.º and 5.º of Portaria n.º 135/94, de 1 de agosto, the fee regime for recreational craft registered in MAR), Jornal Oficial da Região Autónoma da Madeira, I Série, n.º 122joram.madeira.gov.pt · Portaria n.º 145/2003, art. 1.º (Portaria n.º 135/94, art. 2.º(2)(a))Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Deregistration process | Owners must notify loss or a disqualifying transfer immediately; transfer out needs every mortgagee's consent.Gibraltar Merchant Shipping (Pleasure Yachts) Regulations, 1997 (LN. 1997/153), consolidated text at the current version 18/04/2024, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 41(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Owners may cancel on sale, scrapping or loss, and cancellation costs €250 for a private yacht or €650 for a commercial one.Order nr. 715/89 of 23 August and its annexed MAR Regulation, consolidated English text as amended through Ordinance no. 114/2025/1 of 14 March, published by SDM - Sociedade de Desenvolvimento da Madeirawww.ibc-madeira.com · art. 31Retrieved 2026-08-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Register size | Over 900 active pleasure yachts, a floor the registry has published since at least November 2023; we estimate roughly 900 to 1,000.Yacht Registration, The Gibraltar Yacht Registry, Gibraltar Maritime Administration (gibraltarship.com)gibraltarship.comRetrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | MAR holds 1,175 vessels: 1,027 commercial ships and 148 recreational craft.Em Foco: Estatísticas do Mar, 16 November 2025, section 5 (Registo Internacional de Navios), Direção Regional de Estatística da Madeira (the official statistics office of the Autonomous Region of Madeira)estatistica.madeira.gov.ptRetrieved 2026-08-29Effective 2024-12-31Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Red Ensign Group membership | Member of the Red Ensign Group, on its Category 1 list, which takes ships of unlimited tonnage and type.Red Ensign Group, 'Who we are' (About the Red Ensign Group), redensigngroup.orgwww.redensigngroup.org · Who we are, Category 1Retrieved 2026-09-09Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Not a member of the Red Ensign Group, whose published membership is the United Kingdom, the Crown Dependencies and the UK Overseas Territories that operate shipping registers.Red Ensign Group, 'Who we are' (About the Red Ensign Group), redensigngroup.orgwww.redensigngroup.org · Who we are, membership paragraph and both category listsRetrieved 2026-09-09Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| VAT & importation | ||
| VAT rate | Gibraltar has no VAT. A Transaction Tax on goods, not services, replaces import duty; yachts appear in neither its reduced nor its super-reduced rate table.Government corrects transaction tax misinformation, press release 201/2026, HM Government of Gibraltarwww.gibraltar.gov.gi · press release 201/2026Retrieved 2026-09-12Effective 2026-07-15Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Madeira's rates are 4 percent reduced, 12 percent intermediate and 22 percent standard, against 6, 13 and 23 percent on the mainland.Ofício Circulado n.º 25045, de 2024-12-06, 'IVA, Taxas aplicáveis às Regiões Autónomas', Direção de Serviços do IVA, Autoridade Tributária e Aduaneirainfo.portaldasfinancas.gov.ptRetrieved 2026-08-12Effective 2024-10-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Basis for VAT on import | Transaction Tax on imports is charged on customs value plus duties, transport and insurance.Treaty on Gibraltar and the European Union Act 2026 (Act No. 2026-11), consolidated text at the current version 15/07/2026 (amendments listed to LN. 2026/204), gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · s. 98(1)Retrieved 2026-08-29Effective 2026-07-15Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Import VAT is charged on the customs value, plus duties and accessory costs to the first destination.Código do IVA, artigo 17.º (Valor tributável nas importações), Autoridade Tributária e Aduaneira, info.portaldasfinancas.gov.ptinfo.portaldasfinancas.gov.pt · art. 17.º(1)Retrieved 2026-08-12Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Temporary admission rules | EU temporary admission allows 18 months for boats registered and owned outside the EU.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, Brussels, 30 April 2026, European Commission, Directorate-General Taxation and Customs Union (Customs policy)taxation-customs.ec.europa.eu · FAQ 18Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Supplies of goods made while they remain under temporary importation with total duty relief are VAT-exempt; the regime itself follows the EU customs rules.Código do IVA, artigo 15.º (Isenções nas operações relacionadas com regimes suspensivos), Autoridade Tributária e Aduaneira, info.portaldasfinancas.gov.ptinfo.portaldasfinancas.gov.pt · art. 15.º(1)(e)Retrieved 2026-08-12Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Leasing scheme status | No leasing scheme exists; the Transaction Tax reaches goods only, never services.Government corrects transaction tax misinformation, press release 201/2026, HM Government of Gibraltarwww.gibraltar.gov.giRetrieved 2026-08-27Effective 2026-07-15Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | No leasing scheme exists; input VAT on recreational boats is blocked unless boats are the taxpayer's business.Código do IVA, artigo 21.º (Exclusões do direito à dedução), Autoridade Tributária e Aduaneira, info.portaldasfinancas.gov.ptinfo.portaldasfinancas.gov.pt · art. 21.º(1)(a)Retrieved 2026-08-18Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Commercial exemption paths | Goods carrying a mandatory EU VAT exemption are exempt, which covers commercial high-seas vessels.Treaty on Gibraltar and the European Union Act 2026 (Act No. 2026-11), consolidated text at the current version 15/07/2026 (amendments listed to LN. 2026/204), gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · s. 101(1)Retrieved 2026-08-29Effective 2026-07-15Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Exemption reaches vessels navigating the high seas that carry passengers for reward or trade commercially.Código do IVA, artigo 14.º (Isenções nas exportações, operações assimiladas e transportes internacionais), Autoridade Tributária e Aduaneira, info.portaldasfinancas.gov.ptinfo.portaldasfinancas.gov.pt · art. 14.º(1)(d) and (f)Retrieved 2026-08-12Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Evidence of VAT-paid status | Flag and registration are irrelevant to Union status; proof comes from T2L documents or a VAT-paid invoice.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, Brussels, 30 April 2026, European Commission, Directorate-General Taxation and Customs Union (Customs policy)taxation-customs.ec.europa.eu · FAQ 6Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | VAT-paid status means customs status of Union goods; flag is irrelevant and a T2L is the usual proof.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, 30 April 2026, European Commission, Directorate-General for Taxation and Customs Uniontaxation-customs.ec.europa.eu · Q1Retrieved 2026-08-18Effective 2026-04-30Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Returned goods relief after Brexit | Returned goods relief covers Union-status boats taken out of the EU on or prior to 31 December 2020 and re-imported in the same state by the same person within three years of export, a window that ordinarily closed by 31 December 2023; separately, since July 2026 Gibraltar sits in a customs union with the EU under the 2026 Treaty Act while remaining a customs territory separate from the Union's.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, Brussels, 30 April 2026, European Commission, Directorate-General Taxation and Customs Union (Customs policy)taxation-customs.ec.europa.eu · FAQ 9Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Reimported goods are exempt only if returned in the same state by the original exporter with customs relief.Código do IVA, artigo 13.º (Isenções nas importações), Autoridade Tributária e Aduaneira, info.portaldasfinancas.gov.ptinfo.portaldasfinancas.gov.pt · art. 13.º(1)(g)Retrieved 2026-08-12Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Yacht management | ||
| Fee model | Management houses typically charge a fixed monthly retainer scaled to the yacht's size (market guidance puts it at roughly €1,500 to 15,000 or more a month by size) or a share of the operating budget, with charter management charged separately at typically 15 to 20 percent of charter revenue.breezeYachting.swiss - Professional Yacht Management Companies and Their Feeswww.breezeyachting.swissRetrieved 2026-09-01Effective 2025-10-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Management houses typically charge a fixed monthly retainer scaled to the yacht's size (market guidance puts it at roughly €1,500 to 15,000 or more a month by size) or a share of the operating budget, with charter management charged separately at typically 15 to 20 percent of charter revenue.breezeYachting.swiss - Professional Yacht Management Companies and Their Feeswww.breezeyachting.swissRetrieved 2026-09-01Effective 2025-10-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Fleet size under management | Established management houses typically run fleets of roughly a dozen to 80 yachts, with an industry average of about 24 under management.SuperyachtNews / The Superyacht Group - The Superyacht Management Reportwww.superyachtnews.comRetrieved 2026-09-01Effective 2017-06-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Established management houses typically run fleets of roughly a dozen to 80 yachts, with an industry average of about 24 under management.SuperyachtNews / The Superyacht Group - The Superyacht Management Reportwww.superyachtnews.comRetrieved 2026-09-01Effective 2017-06-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| ISM document of compliance holder | Gibraltar keeps ISM audits and certification in-house rather than delegating them to classification societies.Survey of Commercial Yachts, Gibraltar Maritime Administration (gibraltarship.com)gibraltarship.comRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | A recognized organization issues the Document of Compliance to the company operating the ship, and the Portuguese maritime authority, DGRM, issues it itself in one reserved case.Acordo que regula a delegação de tarefas e funções específicas relativas à certificação estatutária dos navios autorizados a arvorar a bandeira portuguesa, celebrado entre a DGRM e a Organização Reconhecida, Direção-Geral de Recursos Naturais, Segurança e Serviços Marítimoswww.dgrm.pt · §2.3.2Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew payroll services | Crew payroll administration is a standard part of a full management mandate, normally run through a dedicated MLC-compliant crew employment company rather than the owning entity.Fraser - Yacht Management Serviceswww.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Crew payroll administration is a standard part of a full management mandate, normally run through a dedicated MLC-compliant crew employment company rather than the owning entity.Fraser - Yacht Management Serviceswww.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Jurisdictions served | Management houses routinely operate across multiple flag states, holding Documents of Compliance from several administrations rather than tying owners to one register.Fraser - Yacht Management Serviceswww.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Management houses routinely operate across multiple flag states, holding Documents of Compliance from several administrations rather than tying owners to one register.Fraser - Yacht Management Serviceswww.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Marine insurance | ||
| Wreck removal insurance | Wreck removal insurance and a certificate from the Maritime Administrator are compulsory for any Gibraltar vessel of 300 GT or more.Wreck Removal Convention Regulations 2015 (LN. 2015/070), Second Supplement to the Gibraltar Gazette No. 4164 of 16 April 2015, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · s. 179J(1) (Merchant Shipping Act, as inserted)Retrieved 2026-08-29Effective 2015-04-16Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Portugal has ratified the Nairobi Wreck Removal Convention, so its compulsory wreck-removal insurance applies to Portuguese-flagged yachts on MAR of 300 GT and above.Status of IMO Treaties, summary of status of conventions ('x-Status.xlsx'), as at 25 August 2026, International Maritime Organizationwwwcdn.imo.org · NAIROBI WRC 2007, section II (Contracting States), p. 572Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Passenger liability regime | The Athens passenger liability insurance duty applies in Gibraltar, but not to a ship licensed to carry no more than 12 passengers.Gibraltar Merchant Shipping (Carriage of Passengers by Sea) (EU Exit) Regulations 2020 (LN. 2020/410), consolidated text, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · preambleRetrieved 2026-08-29Effective 2021-01-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Portugal has ratified the 2002 Athens Protocol: carrier liability of up to 250,000 units of account per passenger on a strict basis and 400,000 on fault, with compulsory insurance only for ships licensed to carry more than 12 passengers.Status of IMO Treaties, summary of status of conventions ('x-Status.xlsx'), as at 25 August 2026, International Maritime Organizationwwwcdn.imo.org · PAL PROT 2002, section II (Contracting States), p. 372Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew placement | ||
| Placement fee model | Crew agencies charge the yacht, not the crew member: typically about one month's gross salary for a permanent placement and 20 percent of earnings for temporary work.Northrop and Johnson Crew Services - Terms and Conditions (2023)cdn.northropandjohnson.com · FeesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Crew agencies charge the yacht, not the crew member: typically about one month's gross salary for a permanent placement and 20 percent of earnings for temporary work.Northrop and Johnson Crew Services - Terms and Conditions (2023)cdn.northropandjohnson.com · FeesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew pool coverage | On published figures, the main crew agencies each hold databases of roughly 40,000 to 50,000 registered candidates, so coverage is effectively global and differentiation is about screening, not database size.The Crew Network (Fraser) - Looking for Crewwww.crewnetwork.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | On published figures, the main crew agencies each hold databases of roughly 40,000 to 50,000 registered candidates, so coverage is effectively global and differentiation is about screening, not database size.The Crew Network (Fraser) - Looking for Crewwww.crewnetwork.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| MLC compliance support | Gibraltar keeps yacht MLC surveys itself and issues a Declaration of Maritime Labour Compliance (DMLC) Parts I and II to every commercial yacht, with a Statement of Compliance below 500 GT.Survey of Commercial Yachts, Gibraltar Maritime Administration (gibraltarship.com)gibraltarship.comRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | For ships of 500 GT and above on international voyages, the Portuguese maritime authority DGRM draws up and signs DMLC Part I itself, then DGRM or a recognized organization inspects and issues the Maritime Labour Certificate, valid five years.DGRM Circular n.º 42, MLC 2006, Implementation of the Maritime Labour Convention to ships flying the Portuguese flag, Certification Process, approved 27-01-2017, published copy hosted by ClassNKwww.classnk.or.jp · §2 ScopeRetrieved 2026-08-27Effective 2017-05-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Payroll administration offered | Crew agencies commonly offer payroll administration as an add-on to placement, usually bundled with MLC-compliant employment contracts, tax withholding and visas.Fraser - Yacht Crew Recruitment (The Crew Network)www.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Crew agencies commonly offer payroll administration as an add-on to placement, usually bundled with MLC-compliant employment contracts, tax withholding and visas.Fraser - Yacht Crew Recruitment (The Crew Network)www.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Notice and replacement terms | Agencies typically guarantee a free replacement if a permanent crew member leaves within 60 to 90 days, with the leading houses extending that to 180 days.Northrop and Johnson Crew Services - Terms and Conditions (2023)cdn.northropandjohnson.com · Replacement guaranteeRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Agencies typically guarantee a free replacement if a permanent crew member leaves within 60 to 90 days, with the leading houses extending that to 180 days.Northrop and Johnson Crew Services - Terms and Conditions (2023)cdn.northropandjohnson.com · Replacement guaranteeRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Refit & yard works | ||
| Yard network coverage | Refits are routed to a handful of established yard clusters in the Mediterranean, northern Europe, Turkey and the US, with the owner's team tendering the specification across several yards.Hill Robinson - Why Palma is still a leading hub for superyacht refit and maintenancehillrobinson.comRetrieved 2026-09-01Effective 2026-02-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Refits are routed to a handful of established yard clusters in the Mediterranean, northern Europe, Turkey and the US, with the owner's team tendering the specification across several yards.Hill Robinson - Why Palma is still a leading hub for superyacht refit and maintenancehillrobinson.comRetrieved 2026-09-01Effective 2026-02-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Project management model | The market standard is a dedicated owner's representative or project manager, independent of the yard, running the refit from specification through tender and on-site supervision to redelivery.Superyacht Partners - Yacht Refit Management Serviceswww.superyachtpartners.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The market standard is a dedicated owner's representative or project manager, independent of the yard, running the refit from specification through tender and on-site supervision to redelivery.Superyacht Partners - Yacht Refit Management Serviceswww.superyachtpartners.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Refit fee structure | As a market estimate, refit project management is charged as a percentage of contract value, about 4 to 8 percent on the one published example (€200,000 to 400,000 on a €5 million refit), or on a day rate for shorter jobs.The First Owner's Reference - Superyacht refit cost: when to refit, when to sellfirstownersreference.com · 06 RefitRetrieved 2026-09-01Effective 2026-05-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | As a market estimate, refit project management is charged as a percentage of contract value, about 4 to 8 percent on the one published example (€200,000 to 400,000 on a €5 million refit), or on a day rate for shorter jobs.The First Owner's Reference - Superyacht refit cost: when to refit, when to sellfirstownersreference.com · 06 RefitRetrieved 2026-09-01Effective 2026-05-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Survey oversight offered | Independent survey oversight during a refit is a standard offering, with milestone inspections tied to payment stages and a handover inspection at redelivery.Yacht Designers and Surveyors Association (YDSA) - Types of Surveywww.ydsa.co.uk · Supervision of Construction or RepairsRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Independent survey oversight during a refit is a standard offering, with milestone inspections tied to payment stages and a handover inspection at redelivery.Yacht Designers and Surveyors Association (YDSA) - Types of Surveywww.ydsa.co.uk · Supervision of Construction or RepairsRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Warranty handling | Refit yards typically warrant materials and workmanship for twelve months from redelivery, with outstanding items tracked on a snag list and a retention held until they are closed.Gard (P&I club) - Warranty claims in shipbuilding contractsgard.no · Recommendations and checklistsRetrieved 2026-09-01Effective 2015-03-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Refit yards typically warrant materials and workmanship for twelve months from redelivery, with outstanding items tracked on a snag list and a retention held until they are closed.Gard (P&I club) - Warranty claims in shipbuilding contractsgard.no · Recommendations and checklistsRetrieved 2026-09-01Effective 2015-03-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Pre-buy survey | ||
| Survey scope options | A pre-purchase survey is normally a full condition survey of hull, machinery and systems, with sea trial, haul-out, engine survey, rig, oil analysis and ultrasonic gauging as separately priced extras.Yacht Designers and Surveyors Association (YDSA) - Types of Surveywww.ydsa.co.ukRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | A pre-purchase survey is normally a full condition survey of hull, machinery and systems, with sea trial, haul-out, engine survey, rig, oil analysis and ultrasonic gauging as separately priced extras.Yacht Designers and Surveyors Association (YDSA) - Types of Surveywww.ydsa.co.ukRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Survey fee structure | Surveyors typically charge per foot on smaller yachts (one published US rate card is US$28 to 30 per foot), moving to day rates or a fixed fee on superyachts, with haul-out, travel and lab testing billed separately.Boston Marine Surveyors - published rate cardbostonmarinesurveyors.com · RatesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Surveyors typically charge per foot on smaller yachts (one published US rate card is US$28 to 30 per foot), moving to day rates or a fixed fee on superyachts, with haul-out, travel and lab testing billed separately.Boston Marine Surveyors - published rate cardbostonmarinesurveyors.com · RatesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Time to survey report | Surveyors typically deliver the written report within three to five business days of the inspection, after a verbal debrief on the day.Capt. F.K. Lanier and Associates - Marine Survey FAQcaptfklanier.com · FAQ-7Retrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Surveyors typically deliver the written report within three to five business days of the inspection, after a verbal debrief on the day.Capt. F.K. Lanier and Associates - Marine Survey FAQcaptfklanier.com · FAQ-7Retrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Class records review | On large yachts a review of class records, survey status and flag certificates is standard scope alongside the physical survey.JMS Yachting - Superyacht Pre-Purchase Surveywww.jmsyachting.com · Onboard documentation auditRetrieved 2026-09-01Effective 2025-09-03Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | On large yachts a review of class records, survey status and flag certificates is standard scope alongside the physical survey.JMS Yachting - Superyacht Pre-Purchase Surveywww.jmsyachting.com · Onboard documentation auditRetrieved 2026-09-01Effective 2025-09-03Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Sea trial attendance | Sea trial attendance is standard on a pre-purchase survey, though whether it is inside the quoted fee or billed separately varies by surveyor.Boston Marine Surveyors - published rate cardbostonmarinesurveyors.com · RatesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Sea trial attendance is standard on a pre-purchase survey, though whether it is inside the quoted fee or billed separately varies by surveyor.Boston Marine Surveyors - published rate cardbostonmarinesurveyors.com · RatesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Ownership structuring | ||
| Owning company minimum capital | A Gibraltar private company has no minimum share capital; only public companies face a floor, of £20,500 allotted capital.Companies Act 2014 (Act No. 2014-19), consolidated text, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · s. 135(2)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | A Portuguese private limited company has no minimum capital, only €1 per quota; a public company needs €50,000.Código das Sociedades Comerciais (approved by Decreto-Lei n.º 262/86, de 2 de setembro), official consolidated text, articles 26, 201, 219, 276 and 277, Diário da Repúblicadiariodarepublica.pt · art. 201.º (as worded by Decreto-Lei n.º 33/2011, art. 3.º)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Beneficial ownership disclosure | Beneficial owners are filed with a central register within 30 days, and the public can see name, birth month and year, nationality, residence and the interest.Register of Ultimate Beneficial Owners, Nominators and Appointors Regulations 2017 (LN. 2017/122), consolidated text, gibraltarlaws.gov.gi (Government of Gibraltar)www.gibraltarlaws.gov.gi · reg. 4Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Beneficial owners are filed on the central RCBE register; since October 2025 only a person showing a legitimate interest may look up the record, though the implementing rules are not yet made and access still runs on the 2018 procedure.Regime Jurídico do Registo Central do Beneficiário Efetivo, annexed to Lei n.º 89/2017, de 21 de agosto, official consolidated text as amended by Decreto-Lei n.º 115/2025, de 27 de outubro, Diário da Repúblicadiariodarepublica.pt · art. 19.º(1) (as worded by Decreto-Lei n.º 115/2025, art. 2.º)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew employment & payroll | ||
| Seafarer employment agreements | Every seafarer on a commercial yacht needs a signed written employment agreement, and early termination normally requires at least seven days' notice.Gibraltar Merchant Shipping (Maritime Labour Convention) Regulations 2013 (LN. 2013/120), consolidated text, gibraltarlaws.gov.giwww.gibraltarlaws.gov.gi · reg. 11(1)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Every seafarer on a commercially operated Portuguese flag ship needs a written agreement, made in two copies with one kept by each side.Lei n.º 146/2015, de 9 de setembro (activity of seafarers on ships flying the Portuguese flag), official consolidated text as amended by Lei n.º 29/2018 and Decreto-Lei n.º 101-F/2020, Diário da Repúblicadiariodarepublica.pt · art. 7.º(1)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew social security | Crew on a Gibraltar commercial ship who are Gibraltar-resident, EU nationals without home-state cover, or otherwise without MLC-standard social security count as in insurable employment in Gibraltar, so both crew member and shipowner pay contributions.Gibraltar Merchant Shipping (Maritime Labour Convention) Regulations 2013 (LN. 2013/120), consolidated text, gibraltarlaws.gov.giwww.gibraltarlaws.gov.gi · reg. 32(2)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Crew who are neither Portuguese nationals nor resident in Portugal are exempt from Portuguese social security if another protection scheme is in place; Portuguese crew are covered at a reduced combined rate of 2.7 percent (2.0 percent employer, 0.7 percent employee).Shipowners, International Business Centre of Madeira (SDM, Sociedade de Desenvolvimento da Madeira, the concessionaire of the Madeira International Shipping Register)www.ibc-madeira.comRetrieved 2026-08-28Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Compliance (ISM/ISPS/MLC) | ||
| Commercial yacht code applied | Commercial yachts of 24 m and over, carrying up to 12 passengers, are surveyed against the Red Ensign Group Yacht Code Part A.The Red Ensign Group Yacht Code, Part A: Large Yachts, July 2024 Edition, Red Ensign Groupwww.redensigngroup.org · § 1.2(1)Retrieved 2026-08-29Effective 2024-07-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | There is no separate yacht code; Decreto-Lei 192/2003 covers MAR craft over 7 meters and caps commercial ones at 12 passengers.Decreto-Lei n.º 192/2003, de 22 de agosto, and the annexed regulation applicable to recreational craft registered or to be registered in the Madeira International Shipping Register, Diário da República, I Série-A, n.º 193, 22 August 2003, pp. 5420 to 5424files.diariodarepublica.pt · Anexo, art. 2.º(a)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| ISM Code applicability | Full ISM Code applies at 500 GT and over; yachts under 500 GT still run a scaled safety management system.The Red Ensign Group Yacht Code, Part A: Large Yachts, July 2024 Edition, Red Ensign Groupwww.redensigngroup.org · § 23B.1(1)Retrieved 2026-08-29Effective 2024-07-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Pleasure yachts fall outside the EU ISM Regulation unless they are crewed and carry more than 12 passengers for commercial purposes.Regulation (EC) No 336/2006 of the European Parliament and of the Council of 15 February 2006 on the implementation of the ISM Code within the Community, EUR-Lexeur-lex.europa.eu · art. 3(2)(b)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| ISPS Code applicability | Yachts of 500 GT and over must comply with the ISPS Code; Part A of the Code states no requirement below that, which is the Code's silence and not a finding that none applies.The Red Ensign Group Yacht Code, Part A: Large Yachts, July 2024 Edition, Red Ensign Groupwww.redensigngroup.org · § 31.1(1)Retrieved 2026-08-29Effective 2024-07-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The EU ISPS Regulation does not apply to vessels not engaged in commercial activities, or to cargo ships under 500 gross tons.Regulation (EC) No 725/2004 of the European Parliament and of the Council of 31 March 2004 on enhancing ship and port facility security, EUR-Lexeur-lex.europa.eu · art. 3(7)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
Guides for this comparison
- Temporary admission for yachts in the EU explained
- Yacht survey and code compliance costs
- Choosing a yacht flag for cruising and charter
- EU flag or non-EU flag for a yacht
- How do you register a yacht in Gibraltar?
- The total cost of a yacht flag: a normalized lifecycle framework
- Madeira yacht registration process step-by-step
- Commercial vs private yacht registration
- What a yacht register charges
- Commercial yacht VAT exemptions
- Yacht VAT-paid status and evidence
- Yacht import VAT and place of supply
- How much does it cost to register a yacht in Gibraltar?
- Madeira yacht registration costs explained
- EU yacht VAT explained
- How to choose a yacht flag
Services for these registers
Our pages on the services an owner arranges alongside registration.
- VAT and importation for yachts and private aircraft
- Yacht management companies: what they do, what they cost, how to choose
- Yacht insurance by flag: what is compulsory and what the market requires
- Finding yacht crew: how agencies work and what owners pay
- Who owns a yacht or a private aircraft? Companies, trusts and the register
- Employing yacht crew: contracts, payroll and social security
- ISM, ISPS and MLC for yachts: what your flag requires
- Chartering your yacht commercially: licenses, flags and coastal rules
- Central agents: how yachts are marketed for charter
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