Marine & Aviation

ZEDRA has the expertise and the experience to support all our clients marine and aviation needs. Our specialist team will manage in a seamless and efficient manner all the necessary requirements associated with yacht and aircraft ownership whilst ensuring this meets with full legal and regulatory compliance.

ZEDRA can provide bespoke corporate ownership solutions that are tax and VAT efficient.

If you are a private owner, a family office, corporate owner or advisor ZEDRA can help you cut through the complexities for this type of asset class.

Accreditations:

ZEDRA Isle of Man has Authorised Economic Operator (AEO) status which provides the following benefits for clients:

  • Bank guarantees are not required
  • Security against VAT potentially due on importing goods is not required
  • Fast-tracking of the importation paperwork and procedures

Services

YACHT REGISTRATION

There are a vast number of flag states worldwide and therefore choosing the right flag for your yacht can be difficult.  In all cases yacht owners should consider prestige, tradition and history, international recognition of high standards and adherence to the Large Yacht Commercial Code when selecting a flag of registry.  ZEDRA can provide independent advice and guidance on selecting the most suitable flag to suit the owner’s requirements.

Our yacht registration services include:

  • Commercial and pleasure yacht registration in all key jurisdictions
  • Representative Person
  • Liaison with the Classification Society and/or Ship Registry in respect of the tonnage survey
  • Obtaining yacht name approval and reservation
  • Applying for crew endorsements where applicable

YACHT OWNERSHIP

Our dedicated marine team have a comprehensive understanding of the yachting industry and are well placed to assist owners and their representatives in establishing a bespoke ownership structure for their yacht.

The very nature of moveable assets means that both captains and owners face cross-border tax complexities and regulatory challenges which should be navigated with careful management. ZEDRA can provide a fully managed service built around the ownership structure which provides continuity and stress-free sailing during the life of the vessel.

Our yacht ownership services include:

  • Establishment of a tailored ownership structure
  • Provision of professional directors that have knowledge and experience in yachting
  • Yacht registration with all commonly used registries
  • VAT registration and ongoing compliance
  • Importation into the EU in the most convenient ports for yachts
  • Customs assistance for captains and crew, including ongoing oversight of customs compliance
  • Provision of banking arrangements
  • Yacht administration services
  • Bookkeeping and accountancy services
  • Crewing services, including payroll
  • Coordination of fiscal representation in countries of operation
  • Coordination and oversight of insurances

YACHT EU IMPORTATION

ZEDRA Isle of Man has Authorised Economic Operator (AEO) status with HMRC which enables clients to benefit from fast-tracking of the importation paperwork and procedures and the avoidance of bank guarantees.  Our expertise and the experience in Value Added Tax (‘VAT’) ensures that private or commercial yacht ownership structures are compliant whilst in the EU and ensure their VAT status is protected when outside of EU waters.

Our yacht EU importation services include:

  • Formal importation into the EU providing free circulation and full recovery of VAT
  • Formal importation into the EU under commercial exemption
  • Temporary importation into the EU for non-EU residents
  • Formal importation into the EU and payment of VAT for private use

YACHT ACCOUNTING & VAT REPORTING

Tailored to meet your specific needs, we aim to simplify your yacht accounting requirements. We also offer a comprehensive range of trading and treasury support solutions which can significantly increase operating efficiency and minimise running costs and related risks for your vessel.

Whether privately or commercially operated, clear and accurate financial management is key to the success of your superyacht’s programme.

Our yacht accounting and VAT reporting services include:

  • Accounting system set-up and coordination
  • Bank Account facilities
  • Multi-currency management accounts/ bookkeeping
  • Foreign exchange services
  • Group consolidations
  • Tailored reporting
  • Formal and statutory accounts preparation
  • Local audit assistance

ESCROW - MARINE

ZEDRA has extensive experience in the establishment and management of yacht escrow arrangements.  Let us manage the risk and provide peace of mind to contracting parties.

An escrow arrangement provides comfort and security by balancing risk between the contracting parties by appointing ZEDRA as an independent third party to hold assets pending satisfaction of agreed contractual conditions.

Escrow arrangements are incredibly flexible and are well suited to the sale and purchase of new and pre-owned yachts whether the transaction is for high net worth individuals or corporates or involves third party brokers.

Our marine escrow services include:

  • Drafting of the material contractual terms of the escrow agreement
  • Agreement negotiation with involved parties and external advisors
  • Set-up of bank accounts through our global network
  • Management of controlled accounts, including the ultimate distribution of funds
  • Creative end to end solution for the purchase and sale of superyachts, tenders and toys

CREW EMPLOYMENT & PAYROLL

ZEDRA has a Seafarers’ employment solution setup to provide employment and administration services for the benefit of owners and shore based managers of ships/yachts. Our solution is fully compliant with the Maritime Labour Convention 2006 (MLC2006) and we work extensively with third party advisors, are audited annually by Lloyds Register in the UK and are licensed by the States of Guernsey for Seafarer Recruitment and Placement Services.

We use the latest software and continually embrace latest developments in technology to ensure that we are offering truly the latest software solutions available in order to enhance the service provided to not only the Seafarer’s but to the Owners and Managers.

Our seafarers’s employment and payroll services include:

  • Establishment of an incorporated cell to employ crew onboard ships/yachts
  • Maintaining accurate books and records for each Incorporated Cell as well as the preparation of annual financial statements
  • Provision of professional directors that have knowledge and experience in payroll
  • MLC compliant employment contracts
  • Salary payments made from our offshore online banking platform
  • Provision of payslips and salary information to Seafarers via an easily accessible portal
  • Bespoke software and database specifically designed for seafarer employment services
  • Electronic signatures for Seafarer Employment Agreements
  • Annual leave tracker
  • Medical certificates and COC data store and reminder system
  • Easily accessible document store for seafarers
  • Social security compliance

AIRCRAFT REGISTRATION

There are a vast number of aircraft registries worldwide and therefore choosing the right jurisdiction and nationality for your aircraft can be difficult. In all cases aircraft owners should consider prestige, tradition and history, international recognition of high standards and adherence to ICAO standards when selecting a registry. ZEDRA can provide independent advice and guidance on selecting the most suitable aircraft registry to suit the owner’s requirements.

Our aircraft registration services include:

  • Aircraft registration in all key jurisdictions
  • Liaison with the aircraft registry in respect of the aircraft survey & inspection
  • Registration suffix approval and reservation
  • Applying for crew validations where applicable

AIRCRAFT OWNERSHIP

Business jets and helicopters owned by private clients or corporate structures are valuable complex assets. The very nature of such moveable assets means that both aircrew and owners face cross-border tax complexities, as well as legal and regulatory challenges which should be navigated extremely carefully. ZEDRA provides a fully managed service crafted to the individual requirements of each ownership structure which delivers continuity and stress-free flying for your aircraft.

Our aircraft ownership services include:

  • Establishment of a bespoke aircraft ownership structure
  • Provision of professional directors that have knowledge and experience in aviation
  • Aircraft registration with all key aircraft registries Managing the aircraft purchase process and entry to service
  • VAT registration and ongoing compliance
  • Importation into the EU for free circulation
  • Customs assistance for pilots and crew, including ongoing oversight of customs compliance
  • Procuring banking services
  • Aviation administration services
  • Bookkeeping and accountancy services
  • Coordination and oversight of insurances

AIRCRAFT EU IMPORTATION

ZEDRA Isle of Man has Authorised Economic Operator (AEO) status with HMRC which enables clients to benefit from fast-tracking of the importation paperwork and procedures and the avoidance of bank guarantees.  Our expertise and the experience in Value Added Tax (‘VAT’) ensures that private or commercial aircraft ownership structures are compliant whilst in the EU and ensure their VAT status is protected when outside of EU.

Our aircraft EU importation services include:

  • Formal importation into the EU providing free circulation and full recovery of VAT
  • Formal importation into the EU under commercial exemption
  • Temporary importation into the EU for non-EU residents
  • Formal importation into the EU and payment of VAT for private use

AIRCRAFT ACCOUNTING & VAT REPORTING

Tailored to meet your specific needs, we aim to simplify your accounting requirements for your business jet or helicopter. We also offer a comprehensive range of trading and treasury support solutions which can significantly increase operating efficiency and minimise operating costs and related risks for your aircraft.

Whether privately or commercially operated, clear and accurate financial management is key to the success of your aircraft’s operations.

Our aircraft accounting and VAT reporting services include:

  • Accounting system set-up and coordination
  • Bank Account facilities
  • Multi-currency management accounts/ bookkeeping
  • Foreign exchange services
  • Group consolidations
  • Tailored reporting
  • Formal and statutory accounts preparation
  • Local audit assistance

ESCROW - AVIATION

ZEDRA has extensive experience in the establishment and management of aircraft escrow transactions.  Let us manage the risk and provide peace of mind to contracting parties.

Escrow arrangements are incredibly flexible and are well suited to the sale and purchase of aircraft and helicopters whether the transaction is for high net worth individuals or corporates or involves third party brokers.

Our aviation escrow services include:

  • Drafting of the material contractual terms of the escrow agreement
  • Agreement negotiation with involved parties and external advisors
  • Set-up of bank accounts through our global network
  • Management of controlled accounts, including the ultimate distribution of funds
  • Creative end to end solution for the purchase and sale of superyachts, tenders and toys

MARINE & AVIATION TEAM

Andrew Wilson

Andrew Wilson

Head of Marine and Aviation

E: [email protected]

Edward Leigh

Edward Leigh

Client Director

E: [email protected]

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