Leasing scheme status
Leasing scheme status across every register we track for yachts.
What is meant by leasing scheme status?
Whether the jurisdiction operates or recognizes a lease-based arrangement for accounting for VAT on a vessel's use.
Why does leasing scheme status matter when choosing a register?
Schemes of this kind have been withdrawn and reshaped repeatedly, so their current standing needs checking at the time of the transaction.
Every register for yachts, side by side
Where a register has not published an answer, none is shown, and where the only figure available is an estimate, it is labeled as one.
| Register | Answer |
|---|---|
| British Virgin IslandsVirgin Islands Shipping Registry | No yacht leasing VAT scheme exists, and there is no VAT for one to attach to.Marine Circular 01/2026, 'Virgin Islands Registered Yachts Engaged in Trade', issued 26 May 2026 - Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · §6.41Retrieved 2026-08-27Effective 2026-05-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Cayman IslandsCayman Islands Shipping Registry | The Cayman Islands has no leasing scheme; duty relief turns on international voyages, not ownership or financing.Customs Tariff Act (2026 Revision), Cayman Islands, Supplement No. 3 published with Legislation Gazette No. 5 of 3rd February 2026, consolidated and revised as at 31st December 2025; official text from legislation.gov.kylegislation.gov.ky · s. 3(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| GibraltarGibraltar Yacht Registry | 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. |
| Isle of ManIsle of Man Ship Registry | The Isle of Man has no yacht-leasing scheme; chartering must be a genuine economic activity under UK input-tax rules.VBNB46000, Specific issues: letting on hire of boats and aircraft, VAT Business/Non-Business Manual, HM Revenue & Customs, GOV.UKwww.gov.uk · VBNB46000Retrieved 2026-08-18Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| JerseyJersey Ship Registry | No yacht leasing scheme exists, and none of the 61 GST directions concerns vessels or hire.List of current and expired GST directions, Government of Jersey (Revenue Jersey)www.gov.je · GST directions table, issues 2008/01 to 2026/03Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| MadeiraMadeira International Shipping Register (MAR) | 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. |
| MaltaMalta Ship Register | The old fixed lease-percentage tables are gone; full VAT is charged first, then adjusted by the yacht's actual use outside EU waters.Guidelines regarding Item 12 of Part Two of the Third Schedule to the Value Added Tax Act, 12 March 2020, Office of the Commissioner for Revenue, Maltacfr.gov.mt (web.archive.org) · §1Retrieved 2026-08-28Effective 2020-03-12Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Marshall IslandsMarshall Islands Maritime Registry | The Marshall Islands has no yacht-leasing scheme, and no relief turns on how a vessel is owned or financed.Import Duties Act 1989, 48 MIRC Chapter 2 (P.L. 1989-49, as amended), Nitijela of the Republic of the Marshall Islands, as published at rmiparliament.orgrmiparliament.org · §206(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| PanamaPanama Ship Registry | No yacht leasing tax scheme exists; leasing is taxed and chartering is separately licensed.Resolución J.D. No. 089-2020 de 26 de noviembre de 2020, creating the Yacht Chartering auxiliary maritime service (Gaceta Oficial No. 29193 de 8 de enero de 2021), bilingual text, Junta Directiva, Autoridad Marítima de Panamáwww.amp.gob.pa · Resolves, SECONDRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| St Vincent and the GrenadinesSt Vincent and the Grenadines Maritime Administration | No leasing scheme exists; charter hire is taxed by where the yacht is actually used.Value Added Tax Act No. 25 of 2006, Saint Vincent and the Grenadines (Government Printer, Campden Park), read from the Organization of American States Departamento de Derecho Internacional repositorywww.oas.org · s. 14(5)(a)Retrieved 2026-08-27Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| United KingdomUK Ship Register | The UK has no yacht-leasing scheme; hire is taxed where the boat is physically used.VATPOSS15100 - Use and enjoyment: Introduction - HM Revenue & Customs internal manual, GOV.UK (last updated 24 January 2022)www.gov.uk · VATPOSS15100Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
Where to go next
This item is one of many that bear on the choice. Set it beside the rest before you choose a register, and tell us if a register you need is not covered yet.