Nowadays, the majority of yachts are registered (i.e. flagged) offshore, with the Cayman Islands, Marshall Islands and St. Vincent remaining the most popular registries, as the flag you choose for your superyacht will have a direct impact on your taxes. In most cases, flagging your vessel offshore enables to avoid taxes on the hull value. The savings can be significant, compared to the sales tax value (TVA or VAT) that would have to be paid.
When it comes to U.S. tax regulation, not only the potential buyer but also the seller have to pay certain taxes in order to settle a potential deal. In order to avoid it, as well as strict manning requirements, many yachts are originally listed for sale with a mark ‘not for sale to U.S. residents in U.S. waters’.
The general policy derives from a 111-year-old law, preventing sales of foreign-flagged yachts to U.S. citizens when the boats are in U.S. waters. The law requires foreign-flagged vessels to pay an import fee even before they are offered for sale to U.S. residents while in U.S. waters.
Over the past years, the International Yacht Brokers Association (IYBA) urged the Congress to change the form of the 1908 law. The bills that have been filed would not remove the tax paid on the boat, but would defer payment of it until after the boat is sold.
This situation also often pertains to a yacht registered in another country that is within US waters on a cruising permit.
IYBA executive director Cindy Sailor, has recently reintroduced the bill to the new Congress in an effort to boost the yachting industry and encourage more sales in U.S. waters. He explained:
We’re not asking to get any sort of forgiveness for paying the duty. We are requesting that the time of collection of the duty be changed to when the yacht is sold, rather than when it goes on the market.
He adds:
It’s counterintuitive to pay the import tax on the value of a boat before you know what the actual selling price is going to be. A 1.5 percent tax is sizable and most yacht owners don’t want to pay duty just to put the boat on the market with the hopes of selling it to a U.S. buyer.
Matt Ruane, director of JTC Marine and Aviation, cites some specific reasons the U.S. flag may not appeal to owners of large yachts.
U.S.-resident master and crew are required for all large yachts, unless operating privately and outside of U.S. waters. A U.S. flag requires US corporate or private ownership, and the concept of nominee directors and shareholders is less understood and thus, less acceptable, essentially meaning that U.S. corporate ownership is more transparent.
Still, according to HMY Yachts, the sweeping tax reform, the Tax Cuts and Jobs Act of 2017, has included some new provisions that can provide benefits on yacht purchases and also yachts for charter that are used for legitimate business purposes. The new bill codes around bonus depreciation and will come in effect through 2022.
With this, up to 100% of the purchase price can potentially be written off as bonus depreciation in the year of the purchase if all requirements are met. And there is no dollar limit to the purchase price. That same depreciation applies to any improvements made to the vessel in the same year as the purchase.
To qualify for these benefits, the buyer must be an entity—corporation, partnership, or LLC—that will use the vessel for a legitimate business purpose, for instance, by purchasing a yacht and using it for charter.
The newly delivered Benetti Oasis 34 motor yacht Y has entered the brokerage market with Mark Seaton of Yacht. The 34.4-meter vessel was delivered in May 2025 and remains under full shipyard warranty. Currently berthed at Benetti’s shipyard in Viareggio, Italy, the yacht is available for immediate delivery.Designed by RWD, the Oasis 34M series features a distinctive Oasis Deck with fold-down bulwarks, a glass-sided infinity pool, and a spacious beach club area. The yacht’s streamlined profile, extended overhangs, and open-plan layout reflect Benetti’s approach to indoor-outdoor living.The interior design, created by Bonetti/Kozerski Architecture of New York, combines warm greys and natural tones with contemporary elements. The accommodation includes five staterooms for up to 10 guests, with a full-beam owner’s suite on the main deck and four guest cabins below. The crew quarters can accommodate seven staff members.The 269 GT yacht is powered by twin 1,380hp MTU diesel engines, providing a top speed of 16 knots and a cruising speed of 14.5 knots. The vessel sails under the Marshall Islands flag. The asking price for the yacht is €17,500,000, excluding VAT. It represents the only Benetti Oasis 34M from 2025 currently available on the market worldwide. The vessel was built under the supervision of experienced owners and a leading maritime consultancy, ensuring high-quality construction and finishing.Credits: Yacht Harbour Archive
June 20, 2025
Athens-based design studio IPYD has revealed Aether, an 80-meter superyacht concept developed for Oceanco's Simply Custom platform. The design features triangular geometric motifs throughout its exterior, referencing concepts of balance and harmony from ancient Greek philosophy.Presented at the 2023 Fort Lauderdale International Boat Show, Aether joins Oceanco's portfolio of semi-custom concepts built on a standardized technical platform by Lateral Naval Architects. Initial renderings show a continuous exterior profile with an open-plan beach club featuring spa facilities and lounge areas.The Simply Custom range offers owners design flexibility while utilizing pre-engineered naval architecture. Aether follows previous concepts including Ani by Vallicelli Design and Dunes by the Touch Studio. Oceanco has not disclosed construction timelines or technical specifications for the Aetherconcept.Oceanco was founded in 1987. Right now it is a world-class builder of custom superyachts up to the 140 meters range. Oceanco works with world-known designers such as Terence Disdale, Nuvolari-Lenard, Espen Oeino, Sam Sorgiovanni, Igor Lobanov, Tim Heywood and Andrew Winch to create some of the timeless and award-winning yachts afloat today.Credits: IPYD
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The Pershing GTX80 has docked at Manhattan's North Cove Marina, marking the start of its East Coast tour celebrating Pershing's 40th anniversary. The 24-meter Sport Utility Yacht will visit Montauk (July 1) and Newport (July 12) before concluding in the Hamptons.The tour showcases Pershing's performance-oriented design combining speed and onboard comfort. The GTX80 series features an open layout with 370 square meters of living space across three decks, powered by twin 1,550hp MAN V12 engines reaching 35 knots.Allied Marine is coordinating the tour, with updates available through Pershing's social media channels. The itinerary highlights the yacht's coastal cruising capabilities along the Atlantic seaboard.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
June 20, 2025
Hargrave Superyachts has launched its new 38-meter tri-deck motor yacht, the Hargrave 125, from its Antalya, Turkey facility. The vessel, designated Project 125, will debut at the 2025 Cannes Yachting Festival.With a 7.92-meter beam and 1.95-meter draft, the Bahamas-compliant design features a displacement hull optimized for long-range cruising. Stabilization systems operate both at anchor and underway. The 330GT interior maintains 2.2-meter ceiling heights throughout its 10-guest, 7-crew configuration.Power comes from twin Caterpillar C32 main engines with matching 75kW generators, delivering a 17-knot cruising speed. An ASEA power converter ensures global shore power compatibility. The yacht carries a 10-year structural warranty and equivalent coverage for main mechanical components.Hargrave includes a six-month management package with each sale. The vessel remains available for inspection ahead of its Cannes showing.Credits: Hargrave Custom Yachts
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The Yacht Club Costa Smeralda is hosting the 2025 Swan One Design Worlds from June 17-21, featuring 35 teams from 30 nations competing across four one-design classes. The event marks the competitive debut of the ClubSwan 28 class alongside established ClubSwan 36, 42 and 50 fleets."The Swan One Design Worlds highlight the energy and camaraderie of the ClubSwan family," said Luisa Bambozzi, Managing Director of ClubSwan Racing. "Porto Cervo provides the ideal setting to combine world-class racing with vibrant shoreside activities."The regatta features defending champions in multiple classes, including Mamao (ClubSwan 36) and Nadir (ClubSwan 42). Notable entries include Leonardo Ferragamo's Cuordileone and Marcus Brennecke's Hatari in the ClubSwan 50 division. The newly introduced ClubSwan 28 class will compete for its first Gold Cup, with seven teams including youth entry NOX OCEANI featuring 13-year-old helmsman Giorgio Nocella.Giovanni Pomati, CEO of Nautor Swan, emphasized the event's community aspect: "This regatta represents the unity and international spirit that defines the ClubSwan family." The competition schedule allows for eight races per class (ten for ClubSwan 28), with Mistral winds expected for the final racing days.Social events include class dinners and an owners' reception at YCCS, culminating in Saturday's prize ceremony. The ClubSwan Academy continues its youth development program, providing young sailors access to competitive racing platforms.Nautor Swan was founded in 1966 in Pietarsaari, Finland. The builder entered the superyacht market in 1999. Since then, the yard has continued building high-performance sailing yachts in three different lines; ClubSwan, Swan Yachts and Maxi Swan Yachts. Credits: Nautor Swan
June 19, 2025