Editorial

Corporate services for superyacht owners

B2 superyacht profile

By Hill Robinson
22 November 2023

Hill Robinson’s corporate services department sets up and maintains efficient corporate structures that limit the liability of the owner.

As high-value assets that employ full-time crew, it is prudent for superyachts to be owned by corporate structures for the main purpose of segregating liability. Operating under one of the leading corporate service providers in yachting, Hill Robinson Limited, Hill Robinson’s corporate services offer the many different types of corporate structuring that a superyacht owner may require.

“We work with the client’s legal and tax advisers to set up and incorporate the company in the appropriate way, according to intended usage of the yacht and the status of the beneficial owner,” explains Callum Carine, Manager at Hill Robinson. “Client requirements can be met in a package that is as bespoke as the yacht itself. Getting the key decisions right, such as tax-efficient owning structures, vessel registration, VAT payments and fiscal management will minimise the complexities of ownership, thus enhancing the pleasures.”

Headquartered in the Isle of Man and licensed by the Isle of Man Financial Services Authority, Hill Robinson Limited has the benefit of being based in a jurisdiction recognised for its established maritime sector, favourable tax regime and reputable professional industry. With other strategic locations around the world, Hill Robinson can also provide corporate structuring in Malta and the Cayman Islands.

“Client requirements can be met in a package that is as bespoke as the yacht itself. Getting the key decisions right, such as tax-efficient owning structures, vessel registration, VAT payments and fiscal management will minimise the complexities of ownership, thus enhancing the pleasures.”

Once the corporate services team have carried out an onboarding process, which entails verifying the client’s risk profile, they can carry out the statutory setup of the company. “We provide the company directors, who hold the board meetings and approve, reject or make changes to the contractual agreements of the company,” advises Callum. “We also provide the company secretary if required and fulfil the registered office requirements, which establishes a point of contact for the company in the chosen jurisdiction.”

The team will be responsible for all administrative tasks to ensure the company runs smoothly. This includes opening bank accounts, making day-to-day payments, submitting reports, taking company minutes, and considering agreements. The company’s financial reporting is also carried out by the team, including an annual set of company accounts signed by the directors. “For our clients that are also managed by Hill Robinson, this process is particularly efficient as all management reports and invoices are readily accessible on our internal system,” adds Callum.

The Hill Robinson corporate services department also has access to the resources of the Affinity Group, whose highly experienced team are on hand to offer compliance and finance support. With this backing, the corporate services team can proficiently set up and maintain efficient corporate structures and limit the liability of the owner to the value of the assets in the structure.

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