Advisory information from the Yacht Charter Association for The Balearics

Against the background of wide global press coverage regarding fiscal / tax problems for boat owners and charterers in the Balearics just recently, the leading charter management companies on the islands which are amalgamated under the Balearic Nautical Business Association (AENB) have issued the following information.

Their association exists in order to ensure that all owners and charterers are dealing with professional legally constituted charter management companies, that their members fully meet the laws and legislation set down by the Spanish authorities.

It also negotiates on items such as matriculation (registration tax) and other fiscal problems that both owners and charterers may have experienced. Most importantly this is done on a direct level with the appropriate government departments, and with the backing of a well-recognised national maritime trade association having its own specialised legal / fiscal experts in house.

This trade body of reputable charter managers working under the AENB intends to help stamp out any illegal charters, and to ensure that all charter clients get the service they deserve and pay for.

Under no circumstances are the association defending or protecting anyone who might be committing any kind of tax fraud or breaking the law in any way. However it is defending those who, to the very best of their knowledge, have complied with the relevant Spanish laws, both fiscal and maritime in order to run a charter fleet providing peace of mind and security to all of their clients.

The charter association along with its legal team, is in continuous contact, both on a local and national level with all authorities concerned, working together to arrive at a satisfactory and clear resolution to the undeniable problems that have recently arisen.

Patricia Bullock of the Palma based Network Group (long established Spanish charter license specialists) and Chairman of the Balearic Yacht Charterers Association, commented as follows; “What appears to some, to be a rich mans leisure pursuit (yachting and yacht charter,) is in fact an industry providing services to the quality tourism market… just like a 5 star hotel does. And just like hotel owners, management and staff - the brokers, charterers, shipyards, marinas and all their workers depend on this redistributed wealth to live on, and to pay their taxes from. What can be wrong with that?”

Margarita Dahlberg, President of AENB said; ”Our association has always defended the rights and championed the cause of 150 or so members, who come from all sectors of the industry and are of all nationalities. We are delighted to have the chance to formally support this important professional Yacht Charterers Association in The Balearics, and to ensure that they, their clients and the owners they represent are treated fairly. We intend to make certain that they are given opportunities to make the most of our wonderful water sports and nautical leisure environment, without experiencing commercial or fiscal hindrance to their good work.

The Balearic Nautical Business Association (AENB) has been in existence for 26 years, and has been constantly lobbying for a clear tax differentiation to be made for such a revenue generating and job creating industry, and for the fiscal policies which apply to the sector to be reformed, in order to be competitive with the rest of Europe.

All of the yachting associations in Spain and The Balearics are amalgamated in their efforts to get rid of these restrictive trade barriers as soon as possible, and are now backed up by many politicians regionally, nationally and in the EU parliament in Brussels

Of course they all realise the enormous potential that has always existed for yachting enthusiasts from the rest of Europe and the world to explore and enjoy the excellent cruising and sailing conditions. With fine reliable weather, hundred of miles of beautiful coastline and unique idyllic anchorages across the four Balearic Islands, the luxury yacht charter route to quality tourism is now as wide open as ever…

The much overdue tax reform and alignment with EU fiscal harmonisation truly represents a win - win scenario for charter clients, investor yacht owners, charter brokers, marine service companies and fuel suppliers. Not to mention the hundreds of food, drink, provisioning and entertainment providers ashore, who are there to serve the yachting public with quality products and services.

The Balearic Nautical Business Association
Peter Franklin
+34 971 100 601
[email protected]

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