Yachts – Purchase and Sale, Tax Treatment, Registration, and Management

Attorney Ivelin Nakov and his team’s many years of experience enable them to provide specialized legal services and advice regarding the purchase and sale, tax treatment, registration, and management of yachts.

Yachting is a symbol of luxury, prestige, and freedom, but transactions involving yachts—including the purchase and sale, chartering, and vessel management—require specialized legal expertise to navigate complex legal, tax, and operational issues.

Legal assistance in the sale and purchase of yachts ensures the secure and smooth completion of the transaction through the performance of due diligence, verifying ownership, ensuring compliance with applicable regulatory requirements, and drafting or reviewing the contractual documentation. Particular attention is paid to the clauses regarding the sale price, warranties, the terms of delivery of the yacht, and the allocation of risks between the parties. The buyer is also assisted in obtaining all necessary documents for the yacht’s registration.

Following the purchase of the yacht, comprehensive legal support is provided regarding its management and operation, including the drafting of charter, leasing, and management agreements that clearly define the rights and obligations of the parties, as well as the responsibilities and terms of use of the vessel. The firm also assists with matters related to the hiring and compensation of the crew, as well as compliance with applicable labor and maritime laws.

Working with attorney Ivelin Nakov ensures that transactions are structured securely, full compliance with applicable regulations, and effective management of all legal and administrative aspects related to the ownership and operation of the vessel.

Main Areas of Practice

the sale and purchase of yachts for commercial purposes and yachts for sports and recreation
Ownership structuring – assistance in establishing corporate ownership structures to optimize tax benefits and protect against liability
registration of yachts for commercial purposes and yachts for sports and recreation, and issuance of a temporary certificate of navigation under the respective flag
Registration and Documentation – Processing all documents and liaising with the relevant authorities to ensure quick and smooth registration
VAT and Tax Planning – Consulting on VAT-efficient structures, such as yacht leasing arrangements and VAT exemptions for commercial yachts
Compliance and regulatory consulting—ensuring full compliance with international maritime regulations
Ongoing maintenance and administration—providing continuous support for license renewals, crew certification, and regulatory updates to ensure that your yacht remains compliant at all times
Legal and charter advisory services—assisting yacht owners in structuring charter agreements and other commercial transactions under the relevant flag.

Representative Work Experience

Our team was selected to provide consulting services regarding the acquisition, registration, and commercial operation of a 39-meter CRN (Ferretti) motor yacht. We prepared an in-depth analysis of the ownership structure with a view to its subsequent commercial operation. The yacht was registered under the flag of the Republic of Malta and subsequently chartered on a bareboat basis to a Bulgarian company engaged in charter operations. Following the period of operation, we advised the client and prepared all necessary documents and contracts related to the sale of the yacht to one of Greece’s largest shipowners.
We represented a Bulgarian company in connection with the acquisition of a newly built motor yacht, the “San Lorenzo” (Italy) – Sanlorenzo SD118, 36 meters. We prepared an analysis of the necessary corporate ownership structure to optimize tax benefits for the commercial operation of the yacht. We handled the full registration process for the vessel’s commercial operation, including charter agreements, compliance with regulatory requirements, and more. Subsequently, and taking into account the area of operation, we provided full assistance and consultation regarding the change of the flag of registration and the issuance of a charter license in Greece.
A Bulgarian company in connection with the acquisition of a 25-meter “Sunseeker Ocean 82” motor yacht and its registration under the flag of the Republic of Malta.
A Bulgarian company in connection with the sale, purchase, and barter of the 19-meter motor yacht “Bluegame – BGX63” (Sanlorenzo) and its registration under the flag of the Republic of Bulgaria.
A Bulgarian company in connection with the acquisition of the “Wallypower 58” (Ferretti) motor yacht, 18 meters in length, and its registration under the flag of the Republic of Bulgaria.

Yachts – Purchase and Sale, Tax Treatment, Registration, and Management

Do you need legal advice?

Main Areas of Practice

Representative Work Experience

+359 879 814 358

+359 885 850 607

legal@nakov.eu