The Isle of Man Ship Registry – redefining superyacht freedom!
The pursuit of innovation and progress in our industry is a relentless one, and the Isle of Man Ship Registry’s ‘Yacht Engaged in Trade’ (YET) Scheme is a well-timed expression of this. Some may say they are arriving late to the party, but we at Quadrant Group would say ‘fashionably late’ in this case, joining the two big registries already at the table, namely Cayman Islands and Marshall Islands, who have seen great success from this over recent years.
The disparity between choosing pleasure or commercial status – both having their pros and cons – has always proposed a case for greater flexibility and the introduction of the YET Scheme by the Isle of Man Ship Registry is the perfect solution to do just that.
In summary, private yachts over 24m will now be able to charter up to a maximum of 84 days per year in designated EU waters.
For owners seeking greater returns from their assets, or a route to offsetting their ever-increasing operational costs, the YET Scheme brings a welcome advantage, attractively balancing lifestyle with additional revenue opportunities.
In an ever-changing, highly competitive and increasingly regulated environment, the appetite for operational flexibility has never been greater. The YET Scheme is a self-assured statement of the Isle of Man’s Ship Registry’s vision and integrity, highlighting their calibre as a jurisdiction of choice.
