whilst at the same time having a level of control; management companies provide this. They allow owners freedom to know the yachts operation is being looked after and the vessel is ready for them when they arrive, with hopefully no issues.”
Alessandro Macri CEO of Main Raise Yachting adds, “Owners and Captains have many resources available to them today, that were not available in the past, but with yachts getting larger every year and more regulations correctly being brought in to the industry, the need for a yacht manager has become more vital.”
I FEEL THOSE WHO ARE QUICK TO
ADAPT AND OFFER A TRANSPARENT AND VALUE SERVICE ARE WELL
POSITIONED FOR CHANGE. THINGS WILL CHANGE, WE KNOW THAT
While yacht managers are not directly subject to new rules and regulations, the administration and documentation required of a yacht in areas such as crewing, VAT and commercial operations means the job has become more time-consuming and demanding. These are the factors that determine how yacht management changes says Oscar; “The large compliance distinction between pleasure and commercial effect the operation of each type of yacht. A good yacht manager will always try to stay abreast of regulation to ensure they are offering value and compliance management for the owner.”
BAKER TILLY ISLE OF MAN Baker Tilly Isle of Man provides a dedicated, experienced team for a complete yacht service. Their aim is to provide impartial advice based on the clients’ overall requirements. The team are able to co-ordinate the various aspects of yacht ownership and operation allowing clients to enjoy their vessel with the flexibility to choose from the services Baker Tilly offer. They offer a comprehensive and bespoke service providing yacht ownership and registration services to a worldwide client base ensuring they meet their requirements with flexibility, confidentiality and transparency. The services range from ownership and corporate structuring, registration, VAT, payroll, import, leasing and operational management For more details Tel: +44 (0) 1624 693900 or visit:
www.bakertillyiom.com
Other factors that are changing and increasing yacht management workloads include the introduction of the MLC 2006 and the YET Scheme explains Kupfer. “With onboard safety and environmental protection remaining key priorities, we fully expect to see the continued introduction of new regulations and amendments to existing regulations for the foreseeable future.”
To re-cap quickly, MLC 2006 introduced the Large Yacht Code LY3 which has been brought up to date to include the latest technology in radio communication equipment and requirements for masts and rigging for sailing yachts. There is also new guidance concerning crew accommodation, safety, SOLAS updates, MARPOL dates, among other guidance updates. The YET (Yachts Engaged in Trade) Scheme The Yacht Engaged in Trade (YET) Scheme has been adopted by the Marshall Islands and more recently the Cayman Islands.
ONBOARD | SUMMER 2018 | 41
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