The Proposal - Own a share in a BRAND NEW 2013 SUNSEEKER MANHATTAN 73
Imagine having the use of your own luxury yacht when you feel like leaving the office on a Friday night, flying to Phuket being picked up in a luxury car and having drinks and dinner on your yacht in the evening. The following days cruising the waters of the Andaman Sea.
The yacht will be offered to Corporate entities and individuals on the basis that they will be purchasing a 10% share of the Yacht.
The cost of a 10% ownership in the yacht is 299,000 GBP.
The shareholder will be entitled to use the yacht for 28 days per annum. The only cost that will be due will be fuel costs and consumables whilst on board and the yearly management fee.
The yacht will not be chartered out when not being used. It is designed for the sole use of the owners and their family, friends and business associates. This also offers more flexibility when it comes to owner’s bookings.
It is proposed that the yacht is kept for a period of 4 years and then sold by the company. Thus offering owners the option to upgrade to a larger new yacht should they wish. Which we are certain they will.
Shares however may be sold at anytime.
The yacht will be moored in Phuket.
The Workings
The yacht will be owned via a BVI (British Virgin Islands) Ltd Company. Each owner will have a 10% share in this company. The Yacht will be the sole asset of the BVI Company. The yacht will be registered in the Cook Islands and fly the Cook Islands ensign. Shareholders agreements will be put in place and each owner will have a vote.
Shareholders can become directors of the company should they wish.
The yacht will be managed on behalf of the shareholder’s of the company by Sunseeker Yacht Management who has contracted with Sunseeker Thailand (Max Marine Asia Ltd.) to manage the yacht in Phuket and this agreement will last for 4 years.
A copy of the management agreement is available on request.
The Benefits
As an owner, you have all the benefits of this luxury yacht but at a fraction of the cost of sole ownership.
The Management of The Yacht
The yacht will be managed by Sunseeker Yacht Management.
Each owner of the yacht will pay a yearly management fee of 35,000 GBP per annum. This management fee will be payable in advance on 1st January each year.
The management fee will cover
- All the costs of owning and maintaining the yacht.
- Royal Phuket Marina Apartment
- Concierge Service
- Full Time Captain
- Deck Hand
- Hostess (if required)
- Mooring fees
- Services Water and Electricity
- Regular Cleaning
- Insurance
- Regular servicing and maintenance
- Repairs (excl warranty)
- Annual lift and antifouling.
- Full management system for owner’s bookings of the yacht.
- Arranging on board cocktail parties and trips.
- Collection to and from the airport to the Marina in luxury transport.
What is Fractional Ownership?
Luxury Yacht – Fractional Ownership
Owning a Luxury Yacht is far from being a practical exercise, there is a high initial capital investment, ongoing annual costs and a depreciating asset that can remain unused for long periods of time.
The cost of outright ownership is high and the majority of owners rarely use their Yacht facilities for long periods of time. It doesn’t make commercial sense to buy outright if your busy lifestyle dictates that you are involved in other time consuming business and leisure activities.
Fractional ownership reduces capital outlay and ongoing expense whilst giving the benefits of using the Yacht as if it were 100% your own.
Full management services alleviate the traditionally associated headaches- financial, maintenance and other issues.
Fractional ownership offers lots of pluses with very few negatives.
Whether you are a corporation or private individual who seeks the benefits of enhancing your business by entertaining clients or incentivizing staff, then a fractional ownership scheme would most possibly be the best option for owning a Yacht.
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