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Monaco

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From $3000

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5-7 days

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Monaco

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Shipyards

Monaco Marine Monaco

14 Quai Antoine 1er, 98000 Monaco

+377 97 97 60 60

https://www.monacomarine.com/en

Frequently Asked Questions

  1. Who is eligible to register a yacht in Monaco?
    Yacht registration in Monaco is available to Monaco residents, citizens, and Monaco-based companies. Foreign nationals and companies can also register a yacht by establishing a Monaco-based entity or appointing a local representative.

  2. What are the benefits of registering a yacht in Monaco?
    Monaco offers several benefits, including a prestigious maritime flag recognized internationally, tax advantages, a secure legal framework, and access to world-class marinas and yachting facilities.

  3. What types of yachts can be registered in Monaco?
    Monaco allows the registration of a variety of vessels, including private yachts, commercial yachts, superyachts, and yachts under construction.

  4. What documents are required to register a yacht in Monaco?
    Required documents include:Proof of ownership (Bill of Sale or Builder’s Certificate)
    Certificate of incorporation (if owned by a company)
    Proof of identity and residency (for individual owners)
    Tonnage certificate (for larger yachts)
    Seaworthiness certificate (for commercial yachts)
    Previous registration certificate (if applicable)
    Proof of VAT payment (if applicable)
    Proof of insurance
    Application form for yacht registration

  5. How long does the yacht registration process take in Monaco?
    The process typically takes 2 to 4 weeks, depending on the complexity of the yacht and the completeness of the submitted documents.

  6. Can foreign nationals register a yacht in Monaco?
    Yes, foreign nationals and companies can register a yacht in Monaco by establishing a Monaco-based company or appointing a local representative.

  7. What are the costs associated with yacht registration in Monaco?
    Registration fees in Monaco vary based on the yacht’s size and type of use (private or commercial). Fees include an initial registration fee, tonnage fees, and annual renewal fees.

  8. Are there any tax advantages for registering a yacht in Monaco?
    Yes, Monaco offers favorable tax advantages, including no personal income tax for residents. However, VAT may apply if the yacht is purchased or imported within the European Union.

  9. Is VAT applicable for yachts registered in Monaco?
    VAT may be applicable if the yacht is purchased or imported into the EU. Proof of VAT payment is required unless the yacht qualifies for a VAT exemption.

  10. Are there annual fees for yacht registration in Monaco?
    Yes, yachts are subject to annual renewal fees based on their gross tonnage and type of use. These fees are relatively competitive, considering Monaco’s prestige as a yachting hub.

  11. Can I register a mortgage on a yacht in Monaco?
    Yes, mortgages can be registered on yachts in Monaco, which is important for financing the purchase or construction of a yacht and providing legal protection for lenders.

  12. Can I register a yacht under construction in Monaco?
    Yes, Monaco allows for the registration of yachts under construction, provided that specific documentation is submitted and conditions are met.

  13. What inspections or surveys are required for yacht registration in Monaco?
    Yachts over a certain size, or those used commercially, must undergo inspections or surveys to ensure they meet safety and seaworthiness standards.

  14. Can I fly the Monaco flag once my yacht is registered?
    Yes, once registered, your yacht is entitled to fly the Monaco flag, signaling compliance with the Principality’s maritime laws.

  15. Is dual registration allowed in Monaco?
    No, dual registration is not permitted. A yacht registered in Monaco cannot be registered under another country’s flag at the same time.

  16. How do I renew my yacht registration in Monaco?
    Yacht registration in Monaco must be renewed annually. The process involves submitting a renewal application and paying the applicable renewal fees based on the yacht’s size.

  17. What happens if I sell my yacht?
    Upon selling a yacht, the new owner must update the registration under their name. The relevant documents must be submitted to Monaco’s maritime authorities to transfer ownership.

  18. Where can I get more information on yacht registration in Monaco?
    For more detailed information, you can contact Monaco’s Department of Maritime Affairs or consult with a local maritime lawyer or representative.

Requirements:

  • Eligibility: The yacht must be owned by a Monaco resident, citizen, or a Monaco-based company. Foreign nationals or companies can register a yacht by establishing a Monaco-based entity or appointing a local representative.

  • Proof of Ownership: A Bill of Sale, Builder’s Certificate, or other documentation proving ownership of the yacht.

  • Proof of Identity and Residency: For individual owners, a valid passport or ID and proof of Monaco residency. For companies, a certificate of incorporation and company registration details.

  • Tonnage Certificate: For yachts over a certain size (typically 24 meters and above), a tonnage measurement certificate from a recognized surveyor is required.

  • Seaworthiness Certificate: Commercial yachts or larger vessels must provide a seaworthiness certificate, confirming the yacht is fit for navigation and complies with safety standards.

  • Proof of VAT Payment: If the yacht was purchased or imported into the European Union, proof of VAT payment is required unless the yacht qualifies for an exemption.

  • Previous Registration Certificate: If the yacht was previously registered in another jurisdiction, a deletion certificate from the previous registry must be provided.

  • Proof of Insurance: A valid insurance policy covering the yacht is required.

  • Completed Application Form: The yacht registration application form provided by Monaco’s Department of Maritime Affairs.

  • Payment of Registration Fees: Payment of applicable registration fees, which vary depending on the yacht’s size and intended use (private or commercial).

Document checklist:

  • Bill of Sale or Builder’s Certificate (proof of ownership)

  • Proof of Identity (passport or ID for individual owners)

  • Proof of Monaco Residency (for individual owners)

  • Certificate of Incorporation (if owned by a company)

  • Tonnage Certificate (for yachts over a certain size, typically 24 meters or more)

  • Seaworthiness Certificate (for larger or commercial yachts)

  • Proof of VAT Payment (if the yacht was purchased or imported into the EU)

  • Previous Registration Certificate (if applicable)

  • Deletion Certificate (from the previous registry, if applicable)

  • Proof of Insurance (valid insurance policy for the yacht)

  • Completed Application Form (from Monaco’s Department of Maritime Affairs)

  • Appointment of Local Representative (for foreign owners, if applicable)

  • Payment Receipt (for registration fees)

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