Stewart Coates from S/V Luckyfish (YouTube Channel Lucky Fish Got Away) interviewed us about charter programs.. He wanted to find out what these charter programs are about and how his audience can benefit from it. There is plenty of good information in these videos for anyone who are starting out in this process.
Ownership in a charter program can provide solutions to the financial and practical disadvantages of traditional private ownership. It really is an easy option provided you go into it with the right expectations and goals.
We discuss several scenarios like Guaranteed Income Yacht Ownership Program, Boat as a Business with tax advantages, Owner Operator Crewed Yacht Business and more.
Guaranteed Income Yacht Management: If you are looking to retire in the next 3-5 years and want to go cruising, the Guaranteed Income program may be a good option for you. This program allows you to partially pay off the boat (around 45%) while you get ready to move on board. Meanwhile, you get to sail in different places in the world and try different boats. At the end of the program you will have paid around 45% of the cost of the boat from the guaranteed monthly payment for 60 months The boat will be worth around 65% of the original value when you sell and you will have had 4-6 weeks / year for 5 years of free sailing time (most owners are unable to take more weeks). So, you will have good equity in the boat and know if you want to sell and upgrade or refurbish and continue cruising your own boat.
Read more about Guaranteed Income Yacht Programs
Boat as a Business Program: A yacht or boat business is a fairly simple concept. By placing a yacht into a corporation, the owner can generate substantial tax advantages that the corporation qualifies for. These tax savings offset the cost of ownership. For U.S. buyers who are in high income tax brackets, this is definitely an ownership option to explore. The goal is to structure your boat business in such a way that you have the intent and ability to make a profit! What you CANNOT do, is structure this business with a flawed business plan of “limited charter” and purposely run it at a loss to avoid wear and tear while offsetting the cost of ownership with business tax deductions. You CANNOT “pretend” to be in business! However this program, when done correctly, offers the least expensive alternative to own a boat!
Read More about Boat as a Business
Fractional or Shared Yacht Ownership: It holds the answer to hassle-free and financially smart boat ownership. It’s a simple concept— up to five co-owners can enjoy the benefits of owning a yacht while splitting the cost of the vessel and its management. It is the simplest way to realize your sailing dreams sooner than you otherwise could and with the least hassle. You can use the yacht as you like and your preferred holidays are always available for you.
Read More about Fraction or Shared Yacht Ownership
Owner Operator Crewed Yacht Programs: This is fast becoming one of our most popular programs! The owners live aboard and operate their own catamaran as an independent charter business. We have helped several couples set their catamarans up in a crewed environment. It can be tricky starting out as a novice with no contacts in the business. That is why we have associated with a charter company that has the benefit of a robust booking system and good support for the boat owner through the charter company’s infrastructure, to help set these owners up to be successful. This is a huge benefit and we recommend this particularly in your first year when you get to know the business. Our owners have had huge success in this area, provided they follow our program.
Read More about Crewed Yacht Business Programs
There are many more programs but this is the gist of what we do. Feel free to contact us for more information or an explanation of any of the programs.
Yacht Ownership Programs Video, PART 1
