The job's not finished until the paperwork is done!
Worldwide Catamarans are experienced in Marine Documentation in their own right, but to give clients total peace of mind, we work with a number of specialist marine documentation companies worldwide offering ESCROW facilities for our clients, home and abroad.
Always use a Yacht Broker if you are buying or selling!
When buying or selling any yacht it is more than just writing out a note on a blank piece of paper, "sold as seen tried and tested 1 boat".
Yacht purchase of even the smallest of boats is like purchasing a house and it is extremely important to obtain clear title of any vessel as a buyer or seller. Any registered vessel in many worldwide locations can have heavy charges, fines or liens attached, TAX owed, a number of shared owners, undisclosed mortgages or even could have been stolen carrying forged papers and changed identity. The yacht could have been corporately owned and the VAT claimed back, therefore it is deemed a VAT unpaid vessel in the eyes of the TAXman.
A marine documentation company can help protect your interests, offer ESCROW account facilities protecting your deposit. They are also familiar with each locations marine law and requirements needed to ensure clean title.
Ships papers are extremely important!
Ships papers need looking after as if lost or destroyed can make any boat unsaleable!!
A Cautionary Tale
Be careful, some people will naively part company with large quantities of their hard earned money after falling in love at first sight with a yacht without doing any research.
For instance: fairly recently we had a charter company list a 45ft catamaran with us on our brokerage listings, we quickly found a buyer who placed a deposit on the boat.
We insisted on the correct paperwork and in the process of doing our own due diligence after some minor discrepancies in the paperwork, we discovered that the yacht was sold from new at 500,000+ EURO each, to 4 separate owners each unaware of the other. In fact when this charter company had the boat with meagre charter income to the owners, but was found to have been chartered for over twenty weeks. It was also later discovered that the new engine the boat needed, all four owners purchased a new engine, all four owners each paid berthing charges, maintenance, damage, insurance. The cat was registered in Germany, Holland, Spain and also on the British SSR (Small Ships Registry).
This was a complicated fraud and the guy, who owned the charter company once discovered, just disappeared to the Caribbean with a couple of million Euro in his pocket!!!
It is always a good idea to give copies of all your ships papers in advance of any sale as if there is something missing we can deal with it sooner rather than later before a buyer comes along. It enables something to be done about it rather than having a last minute panic.
Papers You Will Need
- Original builders invoice showing VAT paid status
- Original builders certificate
- E.U. certificate of conformity
- Signed bill of sale documents from all previous owners
- Current registration certificate
- Proof of VAT paid status
- Invoice for tender and outboard
If Owned by a Company
- Articles of association
- Corporate resolution to sell
- Certificate of good standing
- Signed notarised bill of sale signed by the directors or nominees same as on the registration document
- Beneficial owners passport copy notarised
- Tonnage certificate
Normally it is not the end of the world if you have not got all of the correct paperwork, BUT IF YOU HAVE NOT GOT IT, LET US KNOW, SO WE CAN DO SOMETHING ABOUT IT!
Many countries such as the USA these days, will insist on notarised documentation.
LOOK AFTER YOUR PAPERS, Use a Broker, employ a Marine Documentation specialist!
Ward McKenzie
Ward McKenzie – our contact Sir Ian Collett can handle all aspects of marine documentation, VAT and all aspects of tax advice and marine registration under any flag. Sir Ian and his team are easy to talk to and totally professional ensuring your interests are protected at all times.
Over the years Ward & McKenzie have gained considerable experience in dealing with all aspects of Super Yacht Ownership, from planning new builds or refits, contracting with Sellers of Yachts, Project Management, technical inspections, legal work and ancillary issues, such as Offshore Company Incorporation and Yacht Registration.
14A, Deben Mill Business Centre, Woodbridge, Suffolk, IP12 1BL
Tel: +44 (0) 01394 383222
Email: info@ward-mckenzie.co.uk
Kimberly Clark
Foreign Documentation Specialist
ASAP Marine Documentation & Registration, Inc.
2200 South Dixie Hwy
SUITE #504
Miami, FL 33133
Phone: 954-926-2387
Toll Free: 1-800-492-8362
FAX: 954-920-2145
Email: info@asapmarinedocs.com
New England Marine Documentation
Vessel owners, marine lenders, brokers and dealers have been their dedicated customers for over 25 years and WorldWide Catamarans are proud to have been one of them.
Escrow Services
New England Marine is happy to offer our escrow services for those buyers, sellers, brokers and lenders that need a third party for funds management. New England Marine will work diligently to help bring the transaction to an expedient closure.
US Incorporation
One may choose to hold ownership of the vessel in a domestic corporation. New England Marine can arrange the incorporation within an hour and at a surprisingly low cost.
Foreign Registration
The costs of the offshore registry vary widely due to the surveying process and the size of the boat. We would be happy to obtain a quote for anyone wishing to contact us in advance.
State Titling & Vessel Registration
Let us know if you need to state register or state title your boat. We can prepare and file the necessary paperwork for state compliance.
East Coast Office
New England Marine Documentation
2 Central Street
Winchester, MA 01890
PH: (781) 721-4500
Toll Free: 1-800 BOAT DOC
FX: (781) 721-5509
Email: crew@boatdoc.com
West Coast Office
New England Marine Title
1150 Ballena Boulevard
Alameda, CA 94501
PH: (510) 521-4925
FX: (510) 521-4928
Email: nemarine@boatdoc.com