With over 40 years of experience supporting clients in the acquisition, ownership and sale of high value assets, we’ve developed a deep understanding of what drives peace of mind in this space. Whether it’s business aircraft, fine art, luxury vehicles or yachts, our expertise ensures that every high value asset is managed with precision and purpose.

In this article, we explore the Isle of Man as a hub for high value asset ownership.

The Isle of Man offers a unique combination of a well-regulated, Aa3 credit rating by Moody’s with ‘Stable’ outlook, legal stability, neutrality, tax efficiency, supported by a deep network of aviation and yachting professionals, trust and fiduciary specialists, and regulatory advisors. It maintains an independent government and parliament.

Importantly for family offices the IOM has a quality Aircraft Registry too for yachts with helicopters onboard and owners who wish to register their private and corporate business jets. Both registries are fully up to speed with the requirements of helipads and helicopter operations on yachts.

As a non-EU jurisdiction post Brexit, and a centre of financial excellence, there are fiscal advantages to both an IOM flag and an ownership solution.

• Post Brexit the possibility for qualifying vessels and owners to use EU Temporary Admission for privately used yachts up to 18 months for a super yacht and six months for a super yachts helicopter.
• Clear and consistent fiscal and legal frameworks, English Language, the IOM has the oldest continuous parliament in the world with stability and neutrality with common law principles.
• British regulatory alignment and protection without EU constraints.
• Strategic advantages for owners seeking privacy, anonymity, control, and efficiency.
• 0% corporate tax for most entities under the ‘zero/ten’ regime. This means zero corporation tax on charter income for qualifying vessels.
• Ability to qualify for passenger transport for VAT purposes, and VAT exempt charters in some regions, for qualifying vessels.*
• No capital gains, inheritance, stamp duties, or wealth taxes.
• UK VAT registration possibilities for VAT mitigation strategies.
• OECD white-listed enabling global structuring and confident financing.
• Trusted by bankers and financiers for asset backed lending for your yacht and yacht helicopter.
• Same time zone as the London Financial Markets and one hour difference to European Time Zone.
• Fast renewals and seafarers’ documents, the captains choice of registry.
• Flexible share ownership solutions, trusts, foundations and partnership structures.
• Optimal ownership solutions for fractional owners. And public privacy beneficiary ownership.
• No annual tonnage tax.
• Typically, no audit required for yacht ownership solutions.

*Chartering services may be subject to local VAT regulations and benefit from VAT opportunities and charges depending on where a charter occurs. Martyn Fiddler are able to provide tax consultations on registering an IOM flagged vessel for VAT for European charters.

Contrary to popular myths in Europe the vessel does not have to visit the IOM to be registered or obtain the fiscal advantages.

Further there is a common misconception within the industry that a yacht must register in the same jurisdiction as its owning entity. Whilst its advantageous to have an IOM flagged vessel with an IOM ownership solution and it gives the owner ultimate flexibility, the flag can be matched with other jurisdictions ownership solutions. For example, should an owner want to import the yacht into the EU with an EU company and they are a qualifying owner they can still apply for the IOM flag.

Similarly, there is a misconception that the flag can’t be used by EU nationals, actually the registry is open by all European Nationals, an IOM registered flag and IOM ownership solution can indeed employ an EU VAT agent in for example France, Italy or Spain to permit European Charters and obtain VAT advantages.

The registry has one of the widest lists of qualifying owners including British overseas territories, European Economic areas, such as Iceland and Norway as well as nationals from Antiqua, Hong Kong to Zambia, a total of 100 countries.

Getting ownership and tax advice from qualified experienced professionals in advance of purchasing a yacht is critical. Yacht owners change their mission, operations and residencies, however owners can be confident that the IOM is one of the most flexible jurisdictions for yacht and jet owners through the life of the yacht. Every owner and yacht is different, and flag registration and ownership solutions must be customised to the owner, mission and yacht.

With deep expertise in aviation, yachting and fiduciary services, the IOM is the ultimate jurisdiction for owners seeking privacy, efficiency and stability. Whether you’re buying, selling, or looking to own a high value asset such as a yacht, Martyn Fiddler offers tailored ownership solutions backed by decades of experience. Contact martin@martynfiddler.com to explore how we can support your specific goals with confidence.