Why Greece

The most important benefits of registering a Greek-owned commercial yacht with the Greek Registry are the following:

• All profits/income are being taxed at zero (0%) tax levy
• The commercial yachts are VAT-exempt
• The Charter License is renewable every five (5) years
• Very competitively-priced and discounted applicable mooring fees
• Fuel could be purchased transit i.e. net of local taxes & VAT
• Charterers are paying only 12% VAT by chartering Greek-owned & flagged yachts
• Greek-owned & flagged yachts of up to 24 meters could be bareboat chartered

Greek-flagged commercial yachts are being mostly owned/operated by a special purpose Greek company called NEPA (Maritime Company for Pleasure Yachts). NEPAs are "single purpose corporate vehicles" to own, manage and operate pleasure boats. These companies may be owned up to 100% by European Union Members. Members from Third Countries (outside EU) may own NEPAs up to 49%. They may also be owned by individuals, other companies or both, and they don't have any obligation whatsoever to register under VAT purposes.