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18
January 2018

Update on New Greek Yachting Law

The Greek government recently passed a new law which prohibits yachts not in possession of a Greek commercial licence from commencing AND ending charters in Greek waters.

OCEDA’s ultimate goal remains one – to ensure all yachts globally are able to cruise in Greece’s incomparable cruising grounds and is committed to provide and deliver solutions to ensure a smooth and stress-free yachting experience.

CHARTERING IN GREEK WATERS – HOW?

With Greek Commercial Licence

OCEDA CAN ASSIST OWNERS TO OBTAIN COMMERCIAL LICENCES

Foreign flagged yachts in possession of a Greek commercial licence are able to start and end charters within Greece freely without restriction.

In light of the new law a number of Oceda’s clients have already instructed us to proceed in obtaining a Greek commercial licence for their yachts. Licences could take 2 months to be issued therefore the procedure should be commenced in good time for the summer season.

VAT at the rate of 9.6% (12% for yachts limited to domestic voyages) will arise on charter fees of yachts operating with a Greek licence in Greece.

There is talk of the law changing to simplify the procedure of obtaining a Greek commercial licence due to extensive lobbying by OCEDA and other key industry players but this is yet to be confirmed and as a result we remain bound by laws currently in force.


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