Archive for April, 2015

Cyprus Yacht Leasing Scheme: Regulatory Update April 2015

Special Yacht Scheme

The guidelines issued by the Cypriot VAT authorities with regards to the registration of yachts, simple to comprehend and apply, make Cyprus one of the most attractive jurisdictions in the EU in this area, now reducing the effective VAT rate for yacht registration to as low as 2.42%, through the use of the Yacht Leasing scheme.

General
This special regime applies to yachts owned by a Cyprus company which are leased to physical or legal persons. The purpose of this scheme is to determine the percentage of time a yacht spends within the EU based on the yacht size and type and apply VAT according to this percentage.

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