Subject: Private Yacht-Rental: All Sizes and Budgets-Available

From: "Private Yacht Specials" <[email-masked]>
Date: Wed, 13 Jan 2016 11:12:26 -0500

Get The Best Yacht For Your Needs & Budget!

It's Way Better Than Taking a Huge, Crowded Cruise.

* Fit for All Sizes and Prices.

* Specials are available!

* Accommodating, friendly & well-run yachts and crew

Go Here to See New Ads For Yacht Rental Specials

Authority (the "NTA") has recently published its new regulations ("Regulations") for larger private yachts, bringing much needed clarity and depth to the existing local regulatory structure. The NTA gave consideration to the existing international conventions but has confirmed that it did not believe such conventions adequately addressed the larger size segment of private yachts that are now regular sights in local marinas within the UAE i.e. "those above 24 meters not intended for commercial use, without any restriction with respect to the number of persons on board, not the maximum size of the yacht."(Article 1.1) The Regulations deal almost exclusively with the operation and fitting out of the yacht itself, with sections covering issues such as buoyancy and stability (Part 2), structural integrity (Part 3), pollution prevention (Part 5), navigation and control (Part 7), life saving (Part 9) and manning (Part 11). The Regulations also touch upon issues regarding the ownership of
UAE flagged yachts in relation to their scope of application. The Regulations apply to all types of new UAE registered private yachts of 24 meters or over in length engaged in international or domestic voyages, the keels of which are laid or at a similar stage of construction on or after 1 July 2010 (Articles 1.2.1 & 1.2.2) as well as existing UAE registered private yachts (Article 1.2.3). These new Regulations are a clear indication of the UAE's ambitions to increase confidence and bring transparency to a burgeoning business sector. The Regulations, however, do not apply to yachts engaged in commercial trade or those available for lease (Article 1.1). So what exactly is the present situation for new players to the country who are looking to set up a charter business? Once the application has been approved and following the publication of an announcement in two local newspapers, the yacht will be issued with a 60 day temporary registration. If no objections are raised within the 60
day period, the registration will be considered permanent and the official Certificate of Registry will be issued accordingly. These requirements (for any type of yacht) have not been changed as a result of the issuance of the new NTA Regulations. Ownership issues A UAE citizen or national or a qualified foreign maritime entity registered with an address in the UAE can register a yacht for commercial use with the UAE Registry, renewable on an annual basis. The terms "citizen" and "national" include corporations, limited liability companies, partnerships, limited partnerships and associations of individuals, in accordance with UAE laws (Articles 1.4.2 & 1.4.3). Whilst this may seem straightforward, in accordance with Article 14 of the UAE Maritime Code (Federal Law No. 26 of 1981) only a UAE National or UAE National-owned company is permitted actually to own a yacht flying the UAE flag and/or lease this yacht for commercial charter (Article 16, UAE Maritime Code). This means that an
y foreign-owned vessel hoping for charter business in the UAE has to be at least 51% owned by a national of the UAE. This may not be desirable in all circumstances. Financing For an expatriate looking to set up a yacht charter business in the UAE the yacht ownership issue presents a tricky situation when it comes to financing the purchase of any yacht. In order to operate here, the vessel needs to fly the UAE flag which is not always acceptable to international mortgage lenders. Elsewhere in the world, a standard requirement of such a financing package would be that an encumbrance is placed on the ship's register, thus giving the

Quit-further yachtads by going right here

1748 Olympic Avenue_Westwood. C.A. #9O221.