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Yacht Fractional Ownership

Acquiring a yacht is one of the most special investments one can make. Yachts unlock dreams made of holidays in exclusive creeks worldwide, distant from the hustle and bustle of crowded resorts and close to secluded and exclusive beaches and rivieras. Yachts are also a tool to signify one’s social position. Notwithstanding this, like any other investment, it requires careful planning to minimise inefficiencies and consequently reduce costs. Contrary to other assets, such as immovables, whose value increases with time, yachts tend to depreciate quickly and are subject to high maintenance costs. For this reason, yacht owners aim to mitigate this financial burden. To mitigate such risks and offset, even partially, the investment made, owners tend to opt for mixed-use of the yacht by chartering her to third parties. Although this is a possible solution, there are also some negative aspects connected with yacht chartering:

• Impossibility of using her during peak season
• Use of yacht by third parties who might not treat her as their own to the detriment of her value
• Yachts would generally need to be stationed in the same part of the world to minimise relocation costs
• Engagement of third-party advisors and fiscal representatives to assist with VAT and other related tax compliance matters
• Increase in insurance costs related to the commercial use of yachts
• Increase maintenance and refit costs to ensure the yacht could be registered as commercial and be compliant with the commercial yacht code

Chartering, however, is not the only option to recover costs related to acquiring the yacht. In fact, over the last few years, fractional ownership has proven to be a valid alternative to chartering.

How does fractional ownership work?

Yacht fractional owners own a share or portion of a yacht jointly with other persons who can use the same depending on the terms and conditions of the ownership agreement between all parties. Contrary to a time-sharing arrangement, which grants a right of use only for a limited period, fractional ownership gives a title of ownership (although in common with other persons) and a return of price in case of sale to third parties.  Fractional owners could either acquire a share in the yacht directly or indirectly through the setting up, together with other persons, of a company that will be the yacht’s registered owner. The latter option could provide direct and indirect tax efficiencies if adequately structured. Fractional ownership allows owners to use the yacht for a maximum period, which generally varies between 3 and 6 weeks. Fractional owners are also entitled to charter or sub-lease the yacht to third parties during the period assigned to them or sell their share should they not be interested in the continued enjoyment of the asset. Maltese law also allows the possibility of setting up shipping cell companies where the patrimony of each cell is separate and distinct from other cells, thus giving the shareholder an additional layer of protection and flexibility in structuring their ownership as the fractional right would be assigned to the cell.

Who should opt for fractional ownership?

People who know from the outset they will only be using the yacht for a few weeks a year and want to avoid dealing with third-party operators such brokers, marina agents, seafarers, and tax advisors would do well to consider opting for a  fractional ownership arrangement. These functions would be delegated to a yacht manager by paying a yacht management fee. Such a manager would be in charge of dealing with third parties concerning all of the above matters.

Fractional ownership is a formal arrangement meant to regulate the fractional use of yachts amongst more people by giving certainty on the rules to be adopted and avoided or at least reducing conflicts with service providers and between the fractional owners.

How is the amount of time used decided?

This depends on and is usually proportionate to, the investment made in the yacht.

What are the benefits of fractional ownership?

• Financial: one significantly saves the total purchase price by acquiring a portion of the yacht.
• Saving Time: time spent coordinating the yacht’s management, maintenance, crew employment-related matters, berthing, insurance, and fiscal issues, amongst others.
• It is easier to dispose of the interest in the asset.
• Possibility to change yachts should the fractional owner not be interested in that model. Some fractional ownership organisations even maintain fleets based in different geographical locations.

What are the disadvantages of fractional ownership?

• Sharing the yacht with other people, the impossibility to personalise the yacht and choose particular crew members.
• Use of the yacht is possible during specific periods only and restricted to particular geographical locations. Suppose the yacht is always based in the Mediterranean. In that case, a user cannot decide unilaterally to move her to the Caribbean to return to the Med region again unless most owners (based on a contract of use) choose otherwise.
• The yacht might be unavailable during certain parts of the year if already booked by other fractional owners or under maintenance.

What are the VAT implications, if any, for fractional ownership?

Regarding the EU VAT legislation, supplies of goods or of services made by a taxable person acting as such in return for consideration within the territory of a Member State are subject to VAT unless specifically exempted. As such, transactions that cumulatively meet these conditions are said to fall within the scope of EU VAT, whilst transactions that fail to meet any of the requirements are classified as falling outside the scope of EU VAT, which is to be disregarded for VAT purposes. A transaction deemed to fall within the scope of VAT has then to be methodically analysed to determine its correct VAT treatment, most significant, where it is to be taxed, whether an exemption applies and if not, who would be the person liable to pay the VAT to the tax authority. It is in the background of these concepts, that the numerous transactions contained in fractional ownership, from ownership to management, need to be assessed to establish the appropriate VAT treatment and resulting implications.

As a point of departure, ownership, per se, even if partial and undivided, does not render the owner a taxable person for VAT purposes unless he carries out an economic activity. In the fractional ownership set-up, the owners would not be carrying out an economic activity since each would be using the asset (the yacht) privately. Selling a fractional share would likewise fall outside the scope of EU VAT since the seller (the fractional owner) is not a taxable person for VAT purposes in that he is not in the business of selling or trading in shares in yacht ownership, that is, not carrying out an economic activity. The yacht’s purchase, management fees, operational and maintenance services necessary for the functionality and upkeep of the yacht all appear to be supplies of services subject to VAT. As a rule, the VAT incurred by the management company will be deductible to the extent that it is attributable to its taxable supplies, namely the management fees and recharges claimed from the owners in proportion to their fractional share. The owners, however, have no right of deduction, and the VAT incurred should constitute an irrecoverable cost. Given that in the fractional ownership model, expenses are shared; the VAT cost would thus be less burdensome when compared to full ownership of a yacht.

How do you understand if fractional ownership is the right solution for you?

Fractional owners need to understand if they want the yacht exclusively for themselves or not and whether they are willing to share it with strangers and be able to use it only for specific parts of the year.

On the other hand, all those aspects concerning her maintenance would be delegated to third parties, thus rendering matters easier for the end user. Lastly, fractional ownership would permit the benefit of a yacht at a reduced price, and if one uses a yacht for a few weeks a year, savings would be much higher than the ones made under a charter option.

Charles Vella

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Enjoy Unforgettable Vacations With Fractional Yacht Ownership

Incredible adventures await with our yacht timeshare program, monocle's fractional program is reshaping the yachting world, affordable yacht ownership is a smart lifestyle investment, experience unparalleled value with monocle yachts, yachting is the ultimate luxury vacation – monocle’s fractional yacht ownership program is unparalleled.

Industry-Leader Monocle is Transforming the World of Yachting through Fractional Ownership. Making Yachting Highly Affordable & Saving Owners Millions.

Attention Cruise Ship Travelers:

Cruise the Mediterranean this summer on your own private yacht for less than a charter cost. Why risk your family’s health traveling with thousands of strangers when now is the perfect time to safely cruise on a private yacht at a fraction of the cost. Monocle Fractional Yachts invites you to a one-week trial cruise with your own private crew ensuring an amazing, relaxing and safe vacation. Don’t miss out, call us today! 954-563-5808

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Yacht Lifestyle

Your yachting vacation is not just about seeing new horizons, vistas, landscapes and seascapes. It is about witnessing glorious sunrises, magnificent sunsets and conversing happily over dinner under the stars with loved ones aboard your own private yacht. With no intrusions from the outside world, you and your family can reconnect enjoying fun filled days swimming, snorkeling and jet skiing in a secluded bay. You can explore beaches or immerse yourself in the local lifestyle creating a family vacation filled with unforgettable moments and a lifetime of loving memories. Monocle’s Fractional yacht program affords you the incredible opportunity to share precious private time with your family and friends in the most luxurious and enchanting settings.

Monocle is headquartered in Fort Lauderdale, Florida; however, our program is global.  The most popular destinations for our fractional yacht program are the Bahamas, Caribbean, the Mediterranean & the American northeast in areas such as Maine, Cape Cod & Nantucket.

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FRACTIONAL YACHT / SHARED CATAMARAN OWNERSHIP

Please notify me of the next available boat for the Fractional Yacht Ownership Program

Ownership Redefined For The Sharing Community: Sharing Is The New Owning!

Our current ideal of owning as much “stuff” as we can and of over consumption is being replaced with a new ideal of shared use and ownership. It gives people access to a lifestyle that they otherwise might not be able to afford, and it reduces waste. Imagine owning and sailing your own luxury catamaran for less than 20% of what conventional yacht ownership or bareboat charter would usually cost you! Not only does it save you money but it eliminates the waste of an asset sitting idle for months, collecting dust AND problems. 

That is exactly what this program is designed to do! Fractional or Shared Yacht Ownership gives you the opportunity to enjoy the benefits of yacht ownership for a fraction of the cost of conventional ownership or even charter! Shared yacht ownership is exactly what it sounds like—you buy a share or fraction of a yacht. It is not a timeshare where you only purchase the rights of usage for a certain amount of time and end up with nothing when the term expires. With shared ownership you legally own the fraction of the asset and hold the title to the yacht.

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.

Shared Catamaran Ownership is Appealing But…

People have been forming partnerships to co-own expensive assets for a long time, but until now they have had to figure out the logistics themselves. The benefits of shared ownership are very appealing, but it’s been too cumbersome for most to set up. Finding the right partners, setting up partnerships, and managing the logistics of owning a shared asset can be time consuming and difficult. We have created a program that makes the entire process easier and makes shared ownership available to everyone.

Fractional / Shared Yacht Ownership Structure

Number of owners.

Up to five owners each buys a share in a luxury yacht at a fraction of the cost. Unlike timeshare programs where you do not own the yacht and end up with nothing at the end, this program ensures that you have an equity stake in the yacht and hold title of the vessel. We limit the shares to only five owners per boat or less. That way all owners are guaranteed to get equal time. Because owners of fractional shares involve direct ownership, each user has greater control over how the boat is used and maintained and where it is located.

Duration Of The Program

Duration of the program is 7 years. The boat will be sold at the end of the program. Upon the sale of the asset, the owners recover a percentage of their initial cost and will be proportionally refunded from the net proceeds. The owner is free to sell their ownership interest at any time. Since fractional yachts are well maintained and serviced, the value of each owner’s share may not devalue as rapidly as an average yacht’s value.

Owner Weeks & Cost Per Share

Partners own 20% of the boat in an LLC, boat is financed, and chartered through a charter company based in the British Virgin Islands or Bahamas. Partners get to use it two weeks a year plus anytime it’s not booked within 30 days out for a total of 10-15 weeks for the duration of the program.  Each week retails for $12K which is waived. Partners only pay cleaning and insurance and variable weekly costs.

Fractional Yacht Owner Use

Owner use is shared equally between the owners according to the number of members. Owner access is allocated fairly to ensure that all owners can optimize the use of the yacht and that all the owners get quality time on the yacht to meet their needs or desires.

• Owner Use Reservations: Owners will reserve time on a reservation system on first come basis (Member A, Member B etc.) with limitations. Dates are decided upon via an equal reservation system well in advance. The first co-owner who signs up becomes “A” in the rotation, the second person “B,” and so on during the first year. The next year, the co-owner who was “A” and had first choice becomes “E”
• Owner Use Limitations: It is envisaged that the maximum continuous owner use will be two weeks per year per owner
• Owner Competency: A competency check will be done with each owner after which owners will operate the vessel as their private yacht. No captain or further supervision will be required once competency is established (training is available should the owner wish to improve skills). If owners wish to hire captains for their use, they may do so at their own cost.
• Reciprocal Use: The plan is to develop co-ownership bases in other locations that will create a reciprocal owner use option. Potential locations currently being investigated –Bahamas (Marsh Harbor), Puerto Rico, Annapolis, USVI (St Thomas). To start, the only location will be Fort Lauderdale, which has easy access to the Bahamas and the Florida Keys cruising grounds.

Operating Costs Are Covered By Charter Revenue

The annual operating costs such as insurance, dockage, annual haul out and scheduled maintenance will be offset by income from chartering the yacht. With traditional yacht ownership, the owner spends around 10 percent of the total value of the yacht annually but with our model based on seven years, one can save up to 90 percent of the cost of traditional yacht ownership. That is a huge advantage for the owners of a fractional yacht.

Fractional Yacht Models

The latest catamaran models from the world’s top manufacturers like Lagoon, Fountaine Pajot, Nautitech and Bali are available for these programs, fully equipped with air-conditioning, generator, full electronics, dingy, outboard and sun awnings. 

Fractional Yacht Management & Maintenance

The vessel will be professionally managed and maintained by a management company to ensure that you enjoy your use of the boat with minimum hassle – boats are maintained in turn key condition and ready for you to step aboard.

Fractional Yacht Shares Figures: Cost Of Yacht Share Ownership

We have made up a sample of cost per share using a 46ft catamaran plus full financials. Please contact us for more details.

Catamaran Guru Making Fractional Yacht Ownership Work!

Some of the early fractional yacht business models were guilty of taking advantage of the shareholders, and plenty have failed along the way. They would take a boat with a market price of say $2 million and divide it into 10 shares of $400,000, thereby doubling their investment by selling it for a total of $4 million. The Management / brokerage companies were trying to make a killing on one boat. It did not sit well with many potential buyers. Savvy boat owners might be willing to pay a small premium, but they’re not willing to get taken to the cleaners. 

Catamaran Guru’s innovative fractional shared yacht ownership programs provide you with a financially savvy solution to yacht ownership that is ideal for your active lifestyle. You can experience all the benefits of yacht ownership without the hassles of staffing, maintaining, or servicing your yacht.

Contact us for full details today!  OR Call: 804.815.5054

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9 thoughts on “FRACTIONAL YACHT / SHARED CATAMARAN OWNERSHIP”

Hi could you add my name for the next available round of fractional ownership.

Many thanks in advance

Matt we have you on the list!

Will do! It looks like we will have another Bali 4.6 available in the coming weeks.

We lost our Leopard catamaran in Hurricane Irma and have been looking to buy again.

We are interested in fractional ownership. Can you let me know if this is currently available?

Hi there My wife and I are in Australia We are just about to buy our second vessel We are trying to decide on buying into a syndicate of private owners for private use or whether to buy into a charter program in the Whitsundays and attach a business loan to it including our deposit Wondering if you guys may have something that would suit our needs Ideally We would be looking at a cat around 45 foot in length with preferably four cabins

Craig, my apologies for the late reply! Your comment got buried in the hundreds of comments we’ve received lately. We would be happy to have a chat with you and see what might work for you. We can chat online or by phone or alternately email us your questions and I will reply asap. [email protected]

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Learn more about yacht ownership here . 

Yacht Share Legal Documentation

The core of fractional ownership is the syndicate agreement that all the owners sign up to and abide by.

The Fractional Association’s shared yachts’ operational management programme has evolved over many years, and their syndicate agreement has been updated and amended over those years to remain relevant and to always run in tandem with evolving operational experiences derived from the ever growing numbers of yachts syndicates and new fractional owners around the world.

The objective of the agreement is to outline the expectations and provide a robust but ‘plain English’ understanding for all parties. It should be read in conjunction with the Fractional Association’s Code of Conduct which underpins the Syndicate Agreement.

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National News | Bodies of 2 men missing since Old Saybrook boat…

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National News | Bodies of 2 men missing since Old Saybrook boat crash pulled from Connecticut River

Officers with the state environmental conservation police discovered the first body shortly after noon on Friday in the mouth of the Connecticut River — between Old Saybrook and Old Lyme — about a quarter-mile from the site of the accident,   Environmental Conservation Police Capt. Keith Williams said.

Crews found the second body a few hours later, around 4:30 p.m., the Department of Energy and Environmental Protection confirmed.

Neither man’s identity was immediately released nor were their causes of death , which will be determined by the Connecticut Office of the Chief Medical Examiner. No other details were provided.

The crash happened in Old Saybrook on Monday night around 9:15 p.m.

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