Marine & Aviation

There are a vast number of flag states and aircraft registries worldwide and therefore choosing the right flag or nationality for your yacht and/or aircraft can be difficult.  In all cases 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 for a vessel.
• ICAO standards when selecting a registry for an aircraft.

Our Registration services include:

Yachts

• 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

Aircraft

• Private and Corporate 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

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

The very nature of moveable assets means that both crew and owners face cross-border tax complexities, as well as legal and regulatory challenges which should be navigated with careful management.

ZEDRA provides a fully managed service crafted to the individual requirements of each ownership structure which delivers continuity and stress-free flying and sailing for both your aircraft and vessel.

Our yacht and aircraft ownership services include:

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

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 and aircraft ownership structures are compliant whilst in the EU and ensure their VAT status is protected when outside of EU.

Our 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

Tailored to meet your specific needs, we aim to simplify your yacht, business jet or helicopter 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 or aircraft.

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

Our 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

ZEDRA has extensive experience in the establishment and management of yacht and aircraft 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, aircraft and helicopters whether the transaction is for high net worth individuals or corporates or involves third party brokers.

Our 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

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