Gibraltar is one of the premier jurisdictions for superyachts in Southern Europe for many reasons. The advantages the jurisdiction offers in the specific context of superyachts arise in the legal, financial, and, often most importantly, the practical context.
Gibraltar as a home for superyachts post-Brexit
Further to Gibraltar’s departure from the EU, Gibraltar offers direct market access to the UK and remains a VAT-free jurisdiction at the gates to Europe, offering all the advantages of a red ensign registry with a global outlook reinforced by our departure from the EU.
Practical advantages for superyachts in Gibraltar
Gibraltar’s location, and the fact that it is outside the European Union yet at the gates to Europe, means that Gibraltar remains a popular location for superyachts.
Goods & Services
Gibraltar’s port is one of the busiest ports in Europe and offers a competitively priced series of services and products which superyacht owners and managers have been availing themselves of for many years.
Bunkers and supplies are administered by a wealth of experienced ship and yacht agents, whilst crew can also enjoy a break ashore in the full range of leisure amenities at their disposal. A full range of servicing and maintenance services are also available in Gibraltar, given the long history of shipping activity as a core part of Gibraltar’s economic offering.
There are a number of superyacht berths available in Gibraltar in its handful of marinas. The key locations are Ocean Village Marina and Marina Bay Gibraltar. More recently the Government of Gibraltar provided further superyachts on the main western jetty of the Mid-Harbour marina, a small boat berth marina for 700 boats built in 2015. The berths at Mid-Harbour are administered by the Gibraltar Port Authority – in order to access these berths, owners/operators are required to enlist the assistance of one of many Gibraltar ship agents who will contact the Gibraltar Port Authority and register the reservation via the Port Authority’s VMS reservation system online.
Gibraltar as a destination for superyachts in the COVID context
Gibraltar is fortunate to have a positive story to tell in relation to COVID-19 and its spread throughout the world during the pandemic. We have, as at the middle of May 2020, not yet suffered any deaths as a result of the spread of the virus and have only experienced a total of 149 cases with 145 recovered as at 20 May 2020. During that time, and despite the imposition of a lockdown, we have continued to service vessels in Gibraltar, including the technical calls made by a number of cruise ships in the early part of 2020. We are a dynamic, can-do jurisdiction and have, by virtue of our extensive testing programme (for active cases and antibodies) developed the ability to isolate, track and trace the virus effectively, in a manner that enables us to move forward towards a state of operating as close to normally as we can within the confines of managing a pandemic.
We recently assisted cruise companies in managing the carriage of some 300 crew members to Barbados via London as local authorities assisted cruise liners Jewel of the Seas and MS Sovereign in the repatriation of crew – Read more…
Advantages for superyachts in Gibraltar in the legal and financial contexts
The legal and financial advantages of registering, financing and/or locating a superyacht in Gibraltar stem mainly from its exclusion from VAT, the fact that no import duty is payable on yachts based outside of Gibraltar and the general advantages of dealing with a sophisticated and specialised financial services centre like Gibraltar.
Further details of the advantages of registering, financing or basing a superyacht in Gibraltar can be found on our Ship and Yacht registration and finance page. You can also find details of our experts in this field who will be happy to assist you with any initial questions you may have.
Superyachts in Gibraltar – FAQs
- Are there superyacht berthing facilities in Gibraltar?
Yes – there are a number of marinas that can cater for the berthing of superyachts in Gibraltar, including Ocean Village Marina, Marina Bay and the superyacht berths located at the Mid-Harbour Marina. The latter superyacht berths are managed by the Gibraltar Port Authority.
- What is the VAT status of Gibraltar?
Gibraltar is outside VAT and does not levy the charge, making Gibraltar a useful destination for superyacht owners to send their vessels where relevant from a taxation perspective.
- Can I use Gibraltar as a location for crew changeover?
Yes. Gibraltar is conveniently located, with its own international airport with daily connections to all London airports. Gibraltar’s shipping service providers are expert at dealing with crew changeover and all issues relevant to the movement of crew through Gibraltar such as immigration.
- Can I register a superyacht under construction in Gibraltar?
Yes. Gibraltar’s yacht registry allows for the registration of a vessel under construction, enabling owner’s to secure finance for the vessel even during construction. More details can be found by visiting our page on Registration of a Yacht under Construction in Gibraltar
- Are there any taxes on superyachts in Gibraltar?
There is no VAT paid in Gibraltar, no import duty is paid in Gibraltar on yachts based outside Gibraltar. Furthermore there is no Capital Gains tax payable in Gibraltar.
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