The Perfect Customer Journey not only relies on the highlight reel topics such as design, new build, refit, disruptive technology, emerging destinations and so on, it depends heavily on the hard-nosed considerations that, quite simply, the superyacht market cannot do without. At The Superyacht Forum 2018, held next week (from 12-14 November in Amsterdam), we will be exploring everything from ownership structures to legal, fiscal and insurance considerations and, more importantly, discussing how these issues relate directly to the experience of owning a superyacht.
In the last year alone, there have been a series updates that relate directly to how owners own and operate their vessels. In March 2018, the European Commission opened infringement procedures against Cyprus, Greece and Malta because of a perceived failure to levy the correct amount of Value-Added Tax (VAT) on the provision of superyachts. Furthermore, on 8 November, the European Commission ‘stepped up its agenda to tackle tax avoidance in the yacht sector’ by commencing infringement procedures against Italy for the very same season.
At The Superyacht Forum 2018, a panel of the industry’s brightest minds will explore how, in the post-Paradise Papers era, both public and legal perception of various taxation structures has changed, as well as how various jurisdictions have had to evolve their practices in order to benefit the superyacht owner and discuss which structures are applicable to certain owner profiles.
Earlier this year, Lloyd’s of London, the specialist insurance market, issued a warning to a number of its marine syndicates, including those that underwrite superyachts. The warning challenged loss-making marine syndicates to create viable business plans or face being dropped. This followed a number of years where superyacht insurance premiums fell to unsustainable levels, causing many businesses to operate at unacceptable loss ratios. In the months that followed the announcement, a significant number of syndicates dropped out of the market and, in light of a series of serious incidents, such as the Lürssen fire and the grounding of Serene, superyachts premiums are expected to rise significantly.
During a session called ‘The Insurance Market’, industry stakeholders will explore the factors that created the insurance market’s race to the bottom, as well as analysing where the market is going and how this translates into tangible benefit for superyacht owners.
Elsewhere during The Superyacht Forum, ‘The Business of Ownership’ will discuss the state of world ownership from the perspective of professional service provision and various sessions on flagging, regulation, finance, management and much more will ensure that all bases are covered when it comes to the diligent ownership and use of superyachts.
The Superyacht Forum 2018 focusses on 'The Perfect Customer Journey'. If you are yet to register your place and you wish to join the debate, click here to purchase your ticket. With over 800 of the superyacht market's key industry decision makers in attendance and building on the successes of previous events, this year's The Superyacht Forum is not one to miss.
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