The guide to Superyacht law - Fourth edition

POINTS FOR SELLERS TO CONSIDER • With regards to VAT on the purchase price, should delivery be in international waters or within the EU? • Are all of the superyacht’s statutory documents in order? • Is the superyacht financed? If so, consent from the bank to sell is usually required • Who is my broker? Should I enter into a central agency agreement? • Is the buyer known? Who is the ultimate beneficial owner? Do I want a personal/parent company

guarantee, if a single purpose company is the buyer? • What do I need to do if the buyer is changing flags? • What do I need to do if I am selling with charters in place post-closing?

• What are the closing mechanics and how are funds released? Will it be through SWIFT or by waiting for funds to hit the account or conditional SWIFT (pre-placing funds but not received until the Protocol of Delivery and Acceptance is signed)?

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