Superyachts: Temporary Admission, No Ten-Year Limit

Several clients have recently asked whether the concept of Temporary Admission (“TA”) for VAT in Europe, concerning superyachts, could be limited to a ten-year period.

This is not, in our view, and following our investigations, accurate. Yachts that meet the criteria for TA can cruise privately in European waters for up to 18 months. By exiting EU waters, the vessel can return and benefit from a fresh 18-month period, and the process can be repeated without any ten-year limitation.

James Foley-Comer
Partner