yacht finance consultant

Superyacht Finance

Fortier excels in originating loans for superyachts, supported by a global network of reliable partners.

Fortier excels in originating loans for super yachts, supported by a global network of reliable partners.

Knowledge & Expertise

We specialise in facilitating secured loans tailored to the unique needs of our discerning clients, ensuring that they have the financial support required for their superyacht purchase. Fortier offers a diverse range of financing solutions tailored to meet various situations.

We unlock liquidity in an asset with favourable financing terms to preserve your wealth and investment strategies.

For qualified clients, we provide tailored financing strategies to accommodate various needs, including those purchasing either new or pre-owned superyachts, individuals seeking stage payment financing during construction, or owners exploring options to refinance or monetise their current superyacht holdings.

Purchase Finance

Mortgage range : €2,000,000 – €10,000,000

• Up to 70% LTV for European & Schengen residents.
• Up to 50 % LTV for most international borrowers.

Mortgage range €10,000,000 +

• Up to 60% for European & Schengen residents.
• Up to 50% for most international borrowers.

Lender requirements

• Creditworthiness subject to age, income and global net worth.
• Reputable shipyard or boat of less than 10 years old (case by case).
• Valuation and condition survey required.
• Comprehensive insurance policy (discuss with broker).

Key Considerations

Registration of ownership, project manager, affordability, selection of lender, legal and tax, value added tax (vat), maritime lawyer, leasing finance.

Mortgage range : €1,000,000 – €10,000,000

• Up to 80% LTV for European & Schengen residents.
• Up to 60 % LTV for most international borrowers.
• Up to 70% for European & Schengen residents.

Lender requirements.

• • Creditworthiness subject to age, income and global net worth.

Our committed team possesses expertise in managing the financing requirements of yacht owners, providing customised solutions to optimise financial arrangements in response to evolving circumstances.

Fortier’s commitment to excellence extends to our collaborative partnerships with family offices, challenger banks, and global banking partners. This network enables us to deliver client-focused solutions that align with individual preferences and financial goals. Rest assured, with Fortier, your yacht acquisition journey is not only a pleasure but also an efficiently managed and personalised experience.

VIRGIN ISLANDS YACHT CONSULTANTS

Let us help you navigate the waters of yacht ownership, experienced, knowledgeable, trustworthy.

UNPARALLELED TAX ADVANTAGES

Join the esteemed community of yacht owners and become part of a flourishing industry that offers unparalleled tax benefits, remarkable returns on investment, and the chance to transform your passion into a profitable business. explore the wide selection of yachts perfectly suited for charter service., the importance of working with a dedicated consultant, we work exclusively for your interests. with our guidance we will pair you with the right program to match your goals as well as exit strategy. we'll help you in making well-informed decisions. we are able connect you with essential resources such as marine financing, yacht insurance, surveyors, and more. we serve as a valuable resources through well-established relationships and years of experience in a wide-variety of areas within the charter industry.  , our services include, but are not limited to the following:, new yacht sales pre-owned yacht sales charter management services for both      bareboat and fully-crewed yachts boat as a business programs/recommendations resources for marine finance, yacht insurance, surveyors, accountants, and other specialists, our unique perspective gives you the advantage, previous yacht owners and experienced in "boat as a            business" purchase/arrangement founders of virgin islands yacht charters - a yacht                  charter management company based in st thomas experience with and access to all major brands.

Cell  972-741-1067

[email protected].

St Thomas, US Virgin Islands

Compass point marina.

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Superyacht Financing

We understand the personal benefits of owning a superyacht, as well as the beauty and craftsmanship it represents. As a recognized provider of yacht financing, we can assist you with your purchase of a new or pre-owned yacht, or unlock the liquidity in a yacht you already own.

As a recognised provider of yacht financing, we understand the personal benefits of owning a superyacht—as well as the beauty and craftsmanship that a luxury superyacht represents.

At J.P. Morgan Private Bank, we can assist you with your purchase of a new or pre-owned yacht, or to unlock the liquidity in a yacht you already own. You can benefit from our high level of diligence and experience, as well as our ability to offer flexible, cost-effective options that can address your cash flow, tax position and lifestyle needs.

Yachting is a passion for many of our clients. So they can spend more time setting sail, we partner to support them on all aspects of their yachting journey.

Why leverage a yacht?

• Find liquidity in a traditionally illiquid asset Fund your purchase of a new or pre-owned superyacht through a bespoke financing strategy, or refinance the superyacht you currently own.
• Preserve your equity capital Make additional higher-yielding investments, direct additional funds toward your business, or increase liquidity to meet expected or unexpected cash flow requirements.
• Maintain your investment strategy Optimize and increase your assets without disrupting your investment portfolio.
• Diversify your sources of liquidity Superyacht financing offers a different source of borrowing, potentially freeing up other secured lines of credit for more tactical purposes.

Guide: Considerations when purchasing, owning and operating a yacht

In partnership with some of the leading organisations in the yachting industry, Sam Cook, Head of Specialty Lending (Yacht, Aircraft, Art), J.P. Morgan Private Bank, EMEA, explores key questions to consider when purchasing, owning and operating a superyacht.

Yacht Financing Services

Key Services: As with specialty assets, the purchase of a superyacht brings together many highly skilled professionals. Our lending advisors have a consultative approach with an understanding of the complexities of building, purchasing, managing and chartering superyachts. We will help you consider the implications based on our knowledge of the superyacht industry and understanding of your financial condition, cash flow and balance sheet, so that you can make the right financing decision with confidence.

Financing a yacht purchase  

Working with us, you can expect:

• Niche access and experience:  In a business that relies heavily on relationships and trust, we can connect you to key specialists: leading shipyards, brokers and yacht managers, as well as legal and insurance specialists.
• Registry Guidance:  We can help coordinate guidance on choosing the appropriate jurisdiction for registration yacht financing terms—in consideration of the Tax & VAT implications, chartering requirements and your financing needs.
• Efficiency and effectiveness:  We seek a streamlined process, keeping you fully apprised of each step.
• Collaboration with your other advisors:  We coordinate with your other trusted professionals to help ensure the best outcome for you.

Specialty Lending

Fine art financing

Aircraft financing

Life insurance premium financing

Sports team and stadium financing

Superyacht financing

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Aircraft Financing

Our lending specialists are an industry go-to for private aircraft financing. They're deeply knowledgeable about and connected…

Fine Art Financing

Whether you want to access the liquidity in your art collection or finance a new purchase for it, our art-financing specialists…

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Yacht Finance

Enness brokers yacht finance for global high-net-worth individuals. From smaller yachts all the way up to mega yachts, Enness has experience brokering every kind of yacht finance.

Why Finance a Yacht?

Yachts – especially superyachts and mega yachts – are only accessible if you are a high-net-worth individual, even if you are using superyacht finance. It’s important to note that yacht financing is never about making a boat more affordable or buying on ''credit.'' The sheer sums of money needed to purchase a yacht and the risk for lenders will require that you have significant wealth and that your financial position is very strong. In other words, a yacht needs to be a highly affordable purchase for you, even if you want to finance it.

Yacht financing is usually used when you have very significant assets invested or tied up in such a way that it doesn’t make sense to liquidate them to buy your yacht. Lenders will want to be assured of this before they will even consider lending. Generally, you will need to have assets, wealth, and sources of income (properties, shares, securities, businesses, etc.) that far surpass the value of the yacht you are looking to buy for yacht finance to be an option.

The running costs of yachts vary, but they won’t come in at less than about 10% of the cost of your yacht per year, and these can be significantly higher if you have a large boat with lots of crew. Yacht financing is always about the vessel rather than these additional costs, so you will need to ensure you can comfortably cover these in addition to repayments and other running costs and loan repayments. 

Depending on your citizenship, it may also be more advantageous to finance a yacht for creditorship and personal liability reasons.

How Does Yacht Financing Work?

The overarching principles of yacht or superyacht financing are much like a more ''normal'' loan. Your lender will release a pre-agreed sum to you that you will use to buy the vessel. You will be required to pay back the loan and interest over several years. This system is often used if you are purchasing a second-hand yacht.

If you are planning a new build, your lender will agree to release finance to you in stages. Financing commissioned yachts is marginally more complex as lenders only release funds to the shipbuilder after each part of the build is finished. Work on each stage will need to be verified (often by third-party specialists) and certificates issued against the completion of the phase before your lender will release funds. Your shipbuilder can then continue with the next stage of the build. Both you and your lender will want to consider extra financial safeguards in the case of yacht construction. Usually, these include provisions and structuring in a way that will protect you from bankruptcy or litigation against your shipbuilder that would halt the construction of a ship partway through the projects. Again, you will be required to pay back the loan and interest over several years.

While it is possible only to use the yacht as security for superyacht finance, increasingly lenders will want something in return for offering this type of loan. Yacht-only collateral is likely to be a reality for much smaller boat purchases, rather than vessels that cost multiple million pounds, i.e., superyachts and mega yachts.

Lenders will most likely want to form professional relationships to manage your personal and/or business assets in return for superyacht finance. What kind of relationship you will enter into with a lender and what you will need to put under management will generally depend on your profile, background and wealth. Also, expect to be required to sign a contract that pledges that the lender can claw back any defaulted payments from your corporate interests and personal assets if you don’t make repayments on time. Again, this means that lenders will circle back around to your ability to pay for the yacht in the first place: if you can’t – or won’t – make comprehensive contractual assurances to cover the loan, expect this type of finance to be more complicated.

Loan-to-value ratios vary from lender to lender but generally sit at around a maximum of 50%, although it can sit on either side of this, depending on your background. Generally, the more diverse and liquid your assets, the more willing lenders will be to consider financing your yacht.

Nuances of Yacht Finance

Before considering you for superyacht finance, lenders will want to know more about your experiences with yachting. If these questions come up unexpectedly, this can seem overly intimate: professional relationships rarely venture into the details of how you spend your vacation and what kind of places you stay in. However, yacht finance is a world unto itself, and lenders will want to ensure you understand the asset you are buying and that you have a long-term interest in yacht ownership. Generally, having chartered a yacht a few times will suffice. Principally, lenders want to ensure you will enjoy the vessel you’re buying and won’t want to sell it immediately and that you have grasped the basics of operations and costs.

You will also need to think about the long-term involvement of your lender throughout your ownership of the yacht. Your lender will want to ensure that the boat (i.e., their security) remains in good condition for the loan period. They will want to do this to ensure that should you ever default on the loan, the yacht can be sold relatively quickly and that it’s in good condition at all times. Practically, this will probably mean it will need to be inspected regularly (at least once per year) by the lender, who will want to check that appropriate upkeep is being carried out and that the vessel remains in good condition.

The lenders will also have comprehensive covenants that will cover a wide array of terms that relate to the yacht, its upkeep and its use. Lenders are relatively free to stipulate these, and they will be able to set out clauses and provisions for different aspects of ownership. You will need to understand what these are, how they will affect what you can do with your yacht (i.e., the terms under which you can charter, should you lease the boat) and how it will affect the operation and regions in which you can sail. These details will affect your use of the yacht, and you will need to either negotiate these or reflect carefully on these before signing terms.

For larger, more expensive yachts, you will essentially be entering into a long-term business partnership with your lender, given you will be looking at paying back your vessel over several years. Remember that lenders will be involved and hands-on in more than just your yacht ownership: they usually require updates and at least some oversight of your finances to ensure that you remain in a solid financial position. For this reason, the lender you work with is critical to smooth, enjoyable yacht ownership. While they are subtle details, borrowing from a lender that you like, want to work with for several years, and that has offered you a fair deal is paramount to success.

Structuring Yacht Finance

Whether you are buying a superyacht second hand or commissioning a build from scratch, you will need finance to be structured in a way that meets both your financing and broader requirements. Alongside specialists and your advisors, your broker will also consider how to structure finance in a fiscally advantageous way. Enness will also consider how your package fits your other corporate and private structures.  

Yachts are rarely – if ever – owned by an individual. Instead, you will most likely hold your yacht through a corporate structure. Corporate yacht ownership is most efficient from a fiscal perspective and facilitates elements like the employment of your crew and things like how you pay VAT.

Yacht finance is, therefore, not just a simple question of taking a specialised kind of personal loan and using it to buy a yacht – there are broader and more complex elements to consider. Your ownership structure will need to be thought out and set up before lending occurs, and specialists will need to advise on the best way to structure your ownership. Enness will be able to source in principle offers for you, but lenders will need to understand your proposed structure to be able to do this.

Lenders will lend to the corporate entity that owns the yacht (and of which you are UBO) rather than you personally. However, you will generally be expected to provide a personal guarantee using your own accounts or money against the yacht to provide additional security to your lender.

Loan Agreements will be very detailed. Your nationality, plans for the boat, if it is a new build or you are buying second hand, plus where it will be registered, and the boat’s size will all affect how a lender will want to structure what you borrow. Enness will consider fiscal implications, where you live, the domicile of the corporate entity, currency, potential resale and so on. Enness handle sourcing finance and negotiating terms, but they will work alongside other experts and your advisors to deliver a yacht financing package that meets all your needs.

Enness will also ensure your finance package is ''futureproof''. For example, where your yacht will be registered will also make a difference to how finance is structured and which lenders Enness will approach. Likewise, what you do with the yacht will also come into play. If the yacht will be chartered, lenders may be more willing to let you borrow, given the vessel will generate income. In some cases, however, lenders may require that any revenue generated from charters is paid directly to them as part of your financing agreement, although this requirement may not be the same for every lender. If your yacht is used exclusively for private use, you may need to provide more security or guarantees, given it will not generate income.

Terms will also come up at the initial stages of negotiating finance. Lenders will need assurances that they can take control of the yacht if you default on your loan. Sailing to jurisdictions where it would be impossible for them to impound the boat will usually be a non-negotiable for lenders, and you will need to consider how terms like these affect your ownership and enjoyment of your vessel.

How Will Enness Organise Yacht Finance?

While it is tempting to try and emulate a similar structure or approach the same lender your associates use for their own yacht financing, doing so will not get you the best finance deal. Every aspect of yacht finance needs to be personalised, or you risk missing out on the best package. Enness will analyse every element of your background and identify how to get the best deal. This deal will be completely customised and will be dependent on what you can bring to the table, what you can offer lenders and the broader intricacies of your situation.

Enness always start by asking you questions to understand how much you want to borrow and by when, what type of yacht you want to buy or commission, your financial situation and background. Your broker will also ask about any ''non-negotiables'' you have too – these tend to centre on any specific terms you are aiming for in terms of lenders, rates and so on.

Yacht finance is complex to arrange, but it is essential to remember that you are entering into a long-term relationship with a lender. Much like a mortgage, you will be looking at paying back your loan over several years, especially if you are making a high-value yacht purchase and placing assets under management with your lender. Ensuring that you benefit from the right financing and that the deal is structured in a way that will be advantageous over several years is imperative. Having access to a choice of lenders and negotiating the deal that’s right for you is central to success.

Negotiating superyacht finance requires finesse, consummate access to specialist lenders and an ability to generate healthy competition between the different players in the space. Operating alone, it is very challenging to create the right environment to ensure you enjoy the best deal. A broker like Enness will also be able to open superyacht finance negotiations.

Regardless of how much finance you want for a superyacht purchase, this kind of specialist financing deal is a two-way street. Everything is negotiable, especially if you have a high profile or a lot of business that your lender can benefit from. Enness will open up negotiations and will be able to entice lenders to offer the best rates and terms. 

How Long Is Yacht Finance?

The length of your loan will depend on how much you want to borrow. Superyachts and mega yachts that cost several million pounds will be repaid over more years than a smaller, less expensive boat. For large vessels, terms are usually twenty years, but your broker may be able to negotiate longer or shorter terms. Smaller vessels will typically be repaid over five to seven years.

Yacht Finance Interest Rates

Interest rates are usually fixed rates, which helps to safeguard against fluctuating interest rates over the course of your loan. Interest rates vary significantly from lender to lender. Because you will benefit from a hand-crafted deal, there is no fixed rate or standard interest rate that can act as a guide.  Your wealth, profile, what income you generate and what other assets you own will all play a part, as will the size of your yacht and how much you want to borrow.

Enness will source and negotiate the very best interest rates available in the market.

Contact Enness to Discuss Yacht Finance

With access to more than 500 global lenders, Enness will be able to negotiate the best superyacht finance deal for you.

Contact Enness to have a no-obligation chat about your plans for purchasing a super or mega yacht and explore how Enness can help you structure and streamline yacht finance. 

Case Studies & Articles

Location: Monaco

Value: €5,000,000

15th February 2017

Location: London, UK

Value: £195,000

13th April 2017

Value: £500,000

30th May 2017

23rd May 2017

28th June 2017

9th July 2018

Related solutions.

Customized yacht financing

Financing a special and unique asset.

A yacht is a significant purchase — one that requires considerable knowledge in both the acquisition and financing processes. Whether you’re searching for the right craft, constructing a new one or having your current yacht refitted, the yacht division at Bank of America Private Bank can help you achieve your objectives with a customized credit solution aligned with your ownership structure and cash flow. We have helped hundreds of clients acquire substantial vessels and can offer you the benefits of this experience.

Working with the yacht-finance specialists at Bank of America, you can benefit from:

• In-depth knowledge of the product offerings in the yacht industry
• Financing solutions designed around your needs 
• All the resources of one of the most respected financial institutions

Consultation and guidance

The yacht specialists are focused and seasoned veterans. Their experience in both customized yacht financing and addressing the intricacies of the purchasing process provides them with an understanding of the key players in the yacht market, including builders, brokers and surveyors, as well as legal, insurance and other industry professionals.

Whether your dreams include owning a luxury motor yacht, a sleek sailboat or a sport fishing vessel, the specialists at Bank of America, N.A. can help. The team draws upon these strengths: in-depth knowledge of the yacht industry, experience in wealth management and the extensive resources of a leading financial institution.

We can work with your tax and legal advisors as your specialized consultant to guide you through the process of purchasing and financing your yacht. We understand that buying a yacht should be a pleasure, and we want to help you move seamlessly through your buying experience. 

A resource for first-time buyers  — The team of specialists will walk you through the process, from registration, tax and insurance issues to ownership and loan structures. Where appropriate, we will refer you to the industry professionals who can provide you with the guidance you will need to make informed decisions on these important issues.

We also can pass on valuable insights we have gained from helping other clients. These insights can help you decide whether to buy an existing yacht or construct a new one, whether to offer your yacht for charter, and how to handle crew issues.

Structuring an appropriate loan  — Just as a yacht reflects your lifestyle, so should its financing structure. The specialists will talk with you about your unique financial needs to help determine a loan structure that works for you. With customized repayment options, loan terms and amortization schedules, we offer considerable flexibility in how to structure credit. Alternatives can be simple or more sophisticated, including risk management strategies.

Registering your yacht  — Many of our clients choose to register their yachts in a foreign jurisdiction. The reasons are many and include tax considerations, crew hiring and estate planning issues. Our goal is to help ensure that you have all the information you need to make the decision that best fits your needs.

Building a custom yacht versus buying a completed yacht  —   Construction projects require an added level of knowledge, which few lending institutions possess. We provide construction financing for many of our clients, and will be able to share multiple perspectives with you based upon our knowledge and years of experience working with clients, shipyards, surveyors and brokers.

At Bank of America, the yacht specialists have assisted clients on financing projects in the United States and abroad. We’ve visited many shipyards, so we have a firsthand understanding of the construction process and special considerations involved in building a custom yacht. We’ve participated in financing projects ranging from small in size to very large, multimillion-dollar projects. We also can provide information on managing currency risk, offering solutions such as multicurrency loans.

Considerations and risks

• Customized lending solutions involve special risks and may not be appropriate for all clients.
• Customized lending solutions may be subject to additional credit and legal approval.
• Clients should consult with their independent attorney, tax advisor and investment manager before implementing any financial, tax or estate planning strategy.
• Clients should also consider their portfolio diversification requirements, time horizon, risk tolerance, debt tolerance, tax situation and any cash flow and appreciation objectives they may have.

The resources of a leader

In addition to customized yacht financing, Bank of America Private Bank offers access to sophisticated credit capabilities and a depth of resources, experience and capital strength that few financial institutions can match. The critical dimension we bring to this relationship is a high level of personal service, because you work with one knowledgeable specialist who seeks to ensure that your credit strategy effectively complements the rest of your wealth management strategy.

The yacht financing product offerings include traditional term loans for the purchase of new or pre-owned yachts, refit loans, bridge loans, construction loans and cash-out loans. We work with you to identify a loan structure to help meet your financial needs.

Please contact your Bank of America Private Bank to learn more about yacht financing options.

Your Bank of America Private Bank advisor can introduce you to a credit executive from Bank of America, N.A. who is a specialist in yacht financing. Together they can assemble a team to evaluate your financial picture and structure a financing solution designed to meet your unique needs.

• Learn more about credit
• Explore more insights

Credit facilities are provided by Bank of America, N.A., Member FDIC, its subsidiaries or other bank subsidiaries of Bank of America Corporation, each an Equal Opportunity Lender.

All loans and collateral are subject to credit approval and may require the filing of financing statements or other lien notices in public records. Asset-based financing involves special risks and is not for everyone. When considering an asset-based loan, consideration should be given to individual requirements, asset portfolio composition and risk tolerance as well as capital gains, portfolio performance expectations and investment time horizon. A complete description of the loan terms will be found in the individual credit facility documentation and agreements. Equal Housing Lender.

Bank of America Private Bank operates through Bank of America, N.A., and other subsidiaries of Bank of America Corporation. Bank of America, N.A., and U.S. Trust Company of Delaware (collectively the “Bank”) do not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank.

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Customized Aircraft Financing

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YACHT FINANCING

FINANCING FOR YACHTS AND BOATS

Frank Ramos is your Trusted Advisor and Yacht Finance Specialist with over 30 years of yacht financing experience and over $1 billion in yacht financing transactions.

Whether it involves a simple personal ownership or a more complex corporate or foreign flag structure, I can guide you through the process to facilitate a smooth transaction with terms designed to meet your needs, competitive pricing and unparalleled service.

Since 1984, I have been involved in banking and have concentrated working with all the major lenders in the marine industry. This experience has resulted in a strong lending background and industry knowledge to assist you in navigating the waters of yacht financing.

I can assist you with all aspects of financing your yacht, whether purchasing a new or used vessel or refinancing an existing loan. Our company offers simple, convenient application procedures, a fast response, and a willingness to work with you to help make your dreams come true. I am 100% committed to helping make your purchase or refinance a pleasant experience.  

– FIXED RATE YACHT LOANS

– ADJUSTABLE RATE YACHT LOANS

– VARIABLE RATE YACHT LOANS

– INTEREST ONLY YACHT  LOANS

– USCG DOCUMENTS

– FOREIGN FLAG REGISTRY

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LET’S TALK TODAY!

FIXED RATES

ADJUSTABLE RATES

VARIABLE RATES

INTEREST ONLY

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LET'S TALK! PHONE : (954) 614-3888 EMAIL : CLICK HERE

YACHT LOANS AND BOAT FINANCING

Whether you are a first-time boat buyer or a current yacht owner looking to upgrade, we will help you find the yacht financing package that fits your needs.

The first step in financing your new or used yacht is finding the loan program that is right for you. Luxury Financial Group, Allied Marine's yacht financing partner, offers financing and closing services that are tailored to the unique requirements of the individual buyer, seller, and yacht being purchased.

1314 East Las Olas Blvd. #108

Fort Lauderdale, FL 33301

Luxury Financial Group ensures that the closing is carried out with the highest integrity and that your purchase is as simple and straightforward as possible, regardless of the transaction type. Their specialized boat financing solutions are tailored to you, your assets, lifestyle, and personal situation.

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Yacht Financing Options

Before embarking on the yacht acquisition process, JFA Yacht & Ship consultants assist our clients in obtaining either pre-qualified marine financing or take advantage of Collateralized Financing Programs.

Simply fill out this form and send it to [email protected] to start your pre-qualification.

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Requirements

CREDIT APPLICATION This form should be completed by the applicant and the co-applicant and signed by both at the bottom.

PROOF OF INCOME Acceptable forms of proof are recent pay stub or W-2 form for each applicant.

PERSONAL FINANCIAL STATEMENT Dollar amounts listed in cash, in banks and marketable securities columns will need supporting account statements. For loans under $500,000 – the financial statement on the credit application will do. For loans over $500,000 – please fill out the full Personal Financial Statement.

2 YEARS PERSONAL TAX RETURNS We will need the most recent 2 years, all forms and schedules including K-1’s and S Corporations. If you are under extension, provide extension form also.

2 YEARS BUSINESS TAX RETURNS (self-employed only) If you are self-employed, we will need the most recent 2 years, forms and schedules.

BUSINESS INTERIM STATEMENTS (self-employed only) Please provide a current P&L with the business tax returns. If you are self-employed, the bank will want to see a current interim statement.

REVOCABLE AND LIVING TRUSTS (only needed if in the trust’s name) If you are putting the boat in the name of a trust, we will need the complete trust agreement to be reviewed by the bank’s legal department.

COPY OF DRIVER’S LICENSE WIRED DOWN PAYMENT OR CASHIER’S CHECK FOR FINAL DOWN PAYMENT

Yacht Management

Expert services.

Place your luxury yacht in the right hands with the services of our superyacht management team. Private ownership is an investment, one that requires intimate knowledge and dedicated action to maximize enjoyment and ensure quality maintenance. We provide unparalleled services for private ownership, from customized construction to financial planning to personalized itineraries. Northrop & Johnson is delighted to work with you to make your ownership of a luxury yacht nothing short of extraordinary, so that all you must worry about is enjoying your superyacht.

Building Your Dreams

From vision to reality, our superyacht management team promises exceptional services for customizing and constructing your own private yacht. Our dedicated team presents a unique opportunity to personalize your yacht design with committed specialists and trade experts. From elite luxury interior designers to renowned naval architects, our professionals intimately understand the industry and provide the finest consultations and counseling throughout your new-build process.

Protecting Your Asset

When purchasing a luxury yacht, it’s vital to understand the potential risks, safety procedures and security protocols to protect your asset, along with those aboard. With our specialists at your disposal, cruising smoothly and safely is assured. Through a thorough understanding of International Safety Management Codes, Maritime Labor Convention regulations and additional proceedings, your yacht ownership experience is made simple, successful and undisturbed.

Assuring Your Travel

Dedicated to providing the perfect luxury yacht experience, we specialize in thorough itinerary planning and destination research. Our experts have an intimate knowledge of shore-based activities, on-water amenities and luxury travel possibilities around the world, perfectly catered to each client’s needs. With a dedicated liaison, there are no bounds to the enjoyment of your yachting experience and the destinations you travel to.

Registration & Regulation

Safety consideration and regulation compliance are vital for luxury yacht travel. Having a department devoted to these concerns keeps your yacht on the water and your enjoyment at a maximum. With a professional consultant, you can register your yacht with ease, thanks to the strong trust built between the the client, the liaison and the country of registration.

Financial Expertise

Like any investment, owning a yacht involves complexity and requires meticulous understanding. We provide a professional team dedicated to bespoke budgets, payroll plans and additional financial matters. The department consists of revered accountants and multi-faceted representatives with personal experience in the yachting industry. On a monthly basis, your specialist will send a breakdown of your yachting expenses and maintain quality assurance throughout your ownership. With the Deep Blue real time yacht management software, we ensure that your yachting needs are taken care of whenever and wherever applicable.

Maintenance & Repairs

Our superyacht management team is an active provider of maintenance and repairs in the luxury yachting industry across the world. Thanks to our impressive reach, clients can enjoy access to the best engineers in technology, safety mechanisms and structural support. With an extensive team and endless resources, necessary repairs are dealt with efficiently and thoroughly. As an N&J client, you will receive the utmost quality maintenance and are guaranteed satisfaction with our services.

Crew Services

It’s undeniable that a captain and crew make or break luxury yacht ownership. Crew is essential for yacht operations, vessel maintenance and on-water hospitality. We provide a truly unique crew database with over 6,500 members worldwide from an extensive array of nationalities. Our superyacht management crew representatives ensure that your captain and crew are thoroughly processed, analyzed and interviewed for the fulfillment of your luxury travel needs. In addition to finding crew, our specialists sustain and support ongoing relationships between crew, captains and owners to ensure that the experience aboard your luxury yacht is nothing short of unforgettable.

Specialist Support

The services of our superyacht management team are thorough, refined and simply extraordinary. Our extensive team of consultants is readily available for any needs that may arise, from legal advice and representation to project negotiations. Having reliable assistance that surpasses expectations enables clients to relax and appreciate the most important part of yachting: your enjoyment.

With our impressive collection of resources, N&J clients can rest assured that their luxury yacht ownership will be as seamless and efficient as possible.

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• Yacht Financing

Assets America ® offers luxury yacht financing for yachts, super yachts and mega yachts starting at $10 million and beyond! Yachts are watercraft used for sports, commercial use (chartering) or pleasure (including fishing) with a minimum length of 50 feet.  Super-yachts are large, expensive, professionally-crewed yachts, informally sized at 79 feet or greater, although the dividing line is somewhat subjective. Finally, mega-yachts are the biggest and most expensive yachts, starting from 164 feet and beyond.

Video: Benetti Super Yacht Tour

Yacht Valuation

Yachts are configured as sailing or power vessels, although many sailing yachts have motors as a backup. While yachts can be quite large, however, they are dwarfed by commercial maritime vessels like oil tankers, ocean cruise liners, and cargo ships. Yachts can yield income through chartering, which can figure into the process of obtaining yacht loans. Super-yacht and mega-yacht designs also reflect the personal tastes of their owners. These specializations affect the yacht’s value for financing purposes.

Many factors figure into the evaluation of a luxury yacht, for example:

• Purpose of the vessel
• Number of engines
• Sleeping accommodations
• Crew size (if any)
• Chartering income (if applicable)
• Suitability for different sea conditions
• Fuel consumption
• New versus used
• Legal jurisdiction of the lender, the borrower, and the yacht itself

Take note that international considerations can complicate the process. In other words, financing must account for different laws and cross-border tax implications.

Yacht Financing from Assets America ®

If you want to purchase a yacht, or build your own newbuild, or lease a yacht, check out our yacht finance packages. We can arrange yacht loans that will meet your requirements, even if you are somewhat credit challenged. Our yacht loans start at $10 million. Don’t postpone purchasing the yacht you deserve. Rather, call our offices today at (206) 622-3000 , or simply fill out the below form for a prompt response!

Apply For Yacht Financing

Yacht Survey

For yacht financing and insurance purposes, a yacht, superyacht or megayacht must undergo a survey, a procedure similar to a home inspection. The three types of yacht surveys are:

• Insurance survey: This type of survey is for renewal of insurance policies, not for acquisition. It is a light inspection that tries to identify outstanding issues.
• In-shore and coastal survey: This is the most common survey and is a good choice for many yacht purchases. It includes a full equipment listing, a confirmation of the hull number (much like a car’s VIN), complete system testing, and an out-of-water check of running gear, hull, and bottom paint.
• Offshore survey: This is the most time-consuming and comprehensive survey, appropriate for ocean-going yachts. It includes the in-shore and coastal survey, but also ultrasonic tests, hull moisture tests, heat-sensing scans, engine manifold tests, and more.

Yacht-Building Contracts

The individual nature of luxury yachts means that yacht-building contracts are not standardized the way that oil tanker contracts are standardized. The yacht building yard will enumerate all the luxury yacht buyer’s individual requirements in the contract, which will probably go through several drafts before finalization.

The contract structure reflects the obligations of the builder and the buyer. It will also include warranties, tax provisions, and often, confidentiality clauses, as the owner of a mega yacht often wants to keep a low profile. Ideally, the shipyard delivers to the buyer the yacht exactly as specified, and the buyer receives a clean title upon payment of the purchase price.

Yacht Registration

Yachts must be registered in a country, but not necessarily in the country of the seller or the buyer. Registration is fairly easy as long as the yacht meets certain criteria, such as technical standards and age. This holds especially true in “open registry” countries like Liberia, Panama, Cyprus, and the Bahamas. “Offshore registry” countries are usually colonies or dependencies. For example, there are the Netherland Antilles, Cayman Islands and the Isle of Mann. If the owner is a U.S. citizen, yachts weighing 5 tons or more can be registered at the National Vessel Documentation Center of the U.S. Coast Guard. Coast Guard documentation also offers access to a preferred mortgage that gives the lender certain benefits. However, most U.S. yacht lenders require that financed yachts are documented.

Financing a Yacht

When purchasing an existing yacht, borrowers usually take out yacht mortgages on vessels. However, arrangements differ between yacht building contracts and chartered yachts. Other influencing factors include the current and proposed registration jurisdictions, the tax treatment of the yacht, and the owner’s tax status. In conclusion, yacht financing protects the lender from the borrower’s other creditor claims.

Yacht Loans

Private commercial lenders like Assets America ® can arrange yacht financing, as well as banks, credit unions, boat brokers and yacht manufacturers. Typically, the loan agreement takes on a basic asset-financing structure, collateralized by the fully amortizing yacht mortgage and a lien on the yacht, as well as insurances signed over to the lender. In addition, the loan agreement may give the lender a lien on any revenues generated by chartering the yacht. Finally, the lender will most probably require a personal guarantee and/or debenture from the borrower. This gives the lender a lien on the borrower’s other assets as well.

Yacht-Building Loans

For yacht-building contracts, the loan agreement will provide for cash advances to pay for pre-delivery construction milestones. Payments start with a pre-build deposit by the buyer. Installment payments follow as construction progresses through succeeding stages, evidenced by Stage Certificates. Pre-delivery requirements also include assignment of the yacht-building contract. In the case of default, the contract gives the lender the right to have the builder finish construction. Then the lender takes possession of the vessel and sells it. Accordingly, the yacht financing lender releases funds to the yacht builder upon receipt of each Stage Certificate. These must include the counter-signature of an independent surveyor. The yacht-building contract usually contains clauses that specify what happens if default occurs either by the builder or the buyer.

All loan agreements contain language relevant to warranties, insurances, and registration. The lender might also require covenants that preclude certain uses of the yacht, such as chartering. Finally, the borrower’s surveyor will have inspection rights to protect the borrower’s interests.

Yacht Leases

Some people choose to lease their yachts rather than purchase them. In this case, the lessor gains title to the yacht and leases the yacht back to the lessee for an agreed term. These leases are usually “demise charters” that provide the lessee exclusive use of the yacht. In other words, the lessee is the operational “owner,” while the lessor maintains the title.

Glossary of Marine Lending Terms

Yacht financing – faqs, how is the current market for yachts and superyachts.

Across the world, the boating market—whether monohull sailboats, catamarans, yachts, or superyachts—is a buyer’s market and should remain that way for the foreseeable future. Because fiberglass and other light, super-durable hybrid materials last so long, the market has become increasingly flooded. Often multimillion-dollar yachts are selling for a fraction of what they were just 7-10 years ago.

Is there a best time to purchase a yacht?

The simple answer is yes, at the beginning of the off-season, although that varies around the world and especially between the northern and southern hemispheres. In Florida for instance, the best time to buy a yacht is mid to late August.

What are the costs involved with maintaining a yacht?

In addition to purchasing the yacht, owners typically pay for mooring and storage, insurance, operational costs, crew, maintenance, and winterization. These costs can be rather substantial. Before purchasing a yacht, one needs to make sure they are financially secure.

Can my yacht qualify for tax advantages?

Yes, for example, if a yacht has a berth, head, and galley, then it can qualify as a second home.

What is the least and most amount of financing I can receive?

While our loans start at a bare minimum of $10 million, there is no upper limit to the amount of financing available to you via Assets America®.

What kind of down payment should I expect to make?

While the standard down payment is 20% to 30%, really strong borrowers may be able to make a smaller down payment depending on the quality of their credit, their financial statement, and their cash position.

Online Resources for Yacht Financing and More :

• First, for tips on buying and financing your first luxury yacht , check out these articles from Boat International , Cruising World , and Marina Reservation .
• Second, Boat International also provides Yacht Market Reports and Superyacht Market Reports .
• Moreover, if you’re interested in environmentally friendly yachting, consider checking out Blue Flag International .
• In addition, you may also enjoy this Guide To Yacht Financing from the law firm Field Fisher Waterhouse, although if you’re serious about financing a yacht or superyacht, the best way forward is to speak with a seasoned professional.
• Finally, The New York Times has an excellent article The Beginner’s Guide to Chartering a Yacht with Crew .

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Ronny was a pleasure to work with and is extremely knowledgeable. His hard work was never ending until the job was done. They handled a complex lease and guided us through entire process, including the paperwork. Not to mention a below market lease rate and more than all the features we needed in a site. We later used Assets America for a unique equipment financing deal where once again Ronny and team exceeded our expectations and our timeline. Thank you to Assets America for your highly professional service!

Great experience with Assets America. Fast turn around. Had a lender in place in 30 minutes looking to do the deal. Totally amazing. Highly recommend them to anyone looking for financing. Ronny is fantastic. Give them a call if the deal makes sense they can get it funded. Referring all our clients.

Assets America guided us every step of the way in finding and leasing our large industrial building with attached offices. They handled all of the complex lease negotiations and contractual paperwork. Ultimately, we received exactly the space we needed along with a lower than market per square foot pricing, lease length and end of term options we requested. In addition to the real estate lease, Assets America utilized their decades-long financial expertise to negotiate fantastic rates and terms on our large and very unique multimillion dollar equipment purchase/lease. We were thankful for how promptly and consistently they kept us informed and up to date on each step of our journey. They were always available to answer each and every one of our questions. Overall, they provided my team with a fantastic and highly professional service!

Assets America was responsible for arranging financing for two of my multi million dollar commercial projects. At the time of financing, it was extremely difficult to obtain bank financing for commercial real estate. Not only was Assets America successful, they were able to obtain an interest rate lower than going rates. The company is very capable, I would recommend Assets America to any company requiring commercial financing.

Assets America was incredibly helpful and professional in assisting us in purchasing our property. It was great to have such knowledgeable and super-experienced, licensed pros in our corner, pros upon which we could fully rely. They helped and successfully guided us to beat out 9 other competing offers! They were excellent at communicating with us at all times and they were extremely responsive. Having them on our team meant that we could always receive truthful, timely and accurate answers to our questions. We would most definitely utilize their services again and again for all of our real estate needs.

Assets America is a great company to work with. No hassles. Recommend them to everyone. Professional, fast response time and definitely gets the job done.

Ronny at Assets America has been invaluable to us and definitely is tops in his field. Great experience. Would refer them to all our business associates.

We were very pleased with Assets America’s expertise and prompt response to our inquiry. They were very straight forward with us and helped a great deal. We referred them to all our business associates.

I’ve worked with this company for decades. They are reputable, knowledgeable, and ethical with proven results. I highly recommend them to anyone needing commercial financing.

Ronny was incredibly adept and responsive – top-notch professional who arranged impressive term sheets.

Assets America helped us survive a very difficult time and we most definitely give them 5 stars!

Ronny was very friendly and though we were unable to make something happen at the moment he gave me some direction to go.

My business partner and I were looking to purchase a retail shopping center in southern California.  We sought out the services of Ronny, CFO of Assets America.  Ronny found us several commercial properties which met our desired needs.  We chose the property we liked best, and Ronny went to work. He negotiated very aggressively on our behalf. We came to terms with the Seller, entered into a purchase agreement and opened escrow.  Additionally, we needed 80 percent financing on our multimillion-dollar purchase.  Assets America also handled the commercial loan for us.  They were our One-Stop-Shop. They obtained fantastic, low, fixed rate insurance money for us.  So, Assets America handled both the sale and the loan for us and successfully closed our escrow within the time frame stated in the purchase agreement.  Ronny did and performed exactly as he said he would. Ronny and his company are true professionals.  In this day and age, it’s especially rare and wonderful to work with a person who actually does what he says he will do.  We recommend them to anyone needing any type of commercial real estate transaction and we further highly recommend them for any type of commercial financing.  They were diligent and forthright on both accounts and brought our deal to a successful closing.

Call Our Commercial Financing Specialist

(206) 622-3000

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A look at the most expensive superyachts at the Palm Beach yacht show and their insane features, from basketball courts on deck to ice baths and saunas

The Palm Beach International Boat Show kicks off later this week.

Eight megayachts are expected to be on display for would-be buyers and charter customers.

These are the show's biggest yachts — and how many millions of dollars they are going for.

The Palm Beach International Boat Show — the yacht world's flashiest event stateside — is returning this year with over 800 boats for both deep-pocketed potential owners and window shoppers to peruse.

While it's impossible to know what exactly will be on display until the show begins on Thursday, it's expected that eight megayachts — generally defined as ships over 60 meters long — will be docked at the show and at nearby marinas like the Rybovich Marina in the ritzy Florida town.

Some of these are for sale at eye-popping prices, but others are available to if in case you fancy living like a billionaire for a week or two this summer (and if you have six figures to spare on a vacation).

These are the eight biggest yachts that will be at the Palm Beach International Boat Show and nearby marinas, in size order.

Nero: 90.1 meters

Price: From $497,000 a week (charter) Standout features: Pizza ovens, beauty salon, massage room, resistance pool

Reportedly owned by Irish billionaire Denis O'Brien, Nero is modeled after J.P. Morgan's 1930s ship , and was built in 2007 and updated in 2021.

She now boasts a gym on her sundeck with multiple cardio machines and a beauty salon, and has an on-board beautician for manicure, pedicure, hair, and massage needs. There's also an upgraded movie theater, two new pizza ovens, and both a pool and a jacuzzi.

For those who want to go overboard, she has more than a dozen toys, including a waterslide, Jet Ski, and flyboard.

Victorious: 85 meters

Price: From $876,600 a week in the summer and $950,000 a week in the winter Standout features: Hammam (Turkish bath), wine cellar, wood-burning fireplace, children's playroom

Victorious brings a party vibe to the yacht show. With a beach club on board, a wine cellar, a cigar clubroom , multiple bars, and a lounge with a piano, the vessel is made for entertaining. Plus, there's a playroom and movie theater to entertain the kids.

For tamer charter clients, Victorious has a suite of wellness features such as a gym, massage room, beauty salon and hammam, or Turkish bath — perhaps a custom request of her owner, Turkish businessman Vural Ak.

She also boasts a treasure trove of water toys, including Jet Skis, jetsurfs, inflatable kayaks, and scuba equipment.

Casino Royale: 72 meters

Price: TBD Special Features: Infinity pool, helipad, private jacuzzi

Purchased and refitted by car dealer magnate John Staluppi last year, Casino Royale is the latest of his James Bond-inspired yachts (he's also owned an Octopussy and a Skyfall, among others).

Casino Royale has a helipad that turns into a dancefloor, an infinity pool, and a wellness center with a gym and sauna. The owner's cabin has its own deck, which features a private bar and jacuzzi.

However, the boat's price isn't listed, and while she's not necessarily officially for sale, that might change depending on who's prepared to buy, Mr. Bond.

Talisman C: 70.6 meters

Price: $60 million (or from $567,000 a week to charter) Special features: Massage and beauty room, private library

Likely the largest yacht for sale (not just charter) at the show, the Talisman C is a 2011 six-bedroom boat. The owner's cabin comes with an en suite bathroom, dressing room, private library, and crystal chandeliers.

Amenities include a gym, a beauty room, oversized jacuzzi, and a fully equipped bar. Her crew of 19 includes a trained masseuse, and the toy room comes equipped with a wakeboard, eFoil , and WaveRunners.

Joy: 70 meters

Price: From $650,000 a week Special features: Disco club, basketball court, onboard fitness instructor

Superyacht Joy testifies to the fact that owners want as many on-board experiences as they can get.

There's an expansive suite of fitness features, including a basketball court (don't shoot that hoop too hard!), a personal trainer on staff, boxing equipment, and a handful of machines. For post-workout winddowns, there's a spa with a steam room and onboard masseuse. And for entertainment, there's both an outdoor and indoor cinema, and a disco club.

Triumph: 65.4 meters

Price: From $707,600 a week in the summer and $650,000 a week in the winter Special features: Sauna, helipad, banana boat

This 2021 superyacht is named after Triumph motorcycles — a reported favorite of her rumored owner, British businessman Chris Dawson — and even has one on display as an art piece in the upper deck's lounge. The primary suite is 1,400 square feet and has its own study , and there's a sauna, an indoor-outdoor gym, a helipad, and a massage room spread among her six decks.

She boasts an "armada of water toys," including two kinds of Jet Skis, electric water bikes, and a banana boat.

Seanna: 64.5 meters

Price: $54,000,000 (or from $462,000 a week to charter) Special features: marble foyer, movie room, sundeck pool

The recently refurbished Seanna is available for sale and charter.

Her indoor-outdoor gym is on sea level so that passengers can take a dip after a session with the onboard personal trainer. There's also a sundeck pool, a helipad, a two-room massage facility, and, for the more cerebral guests, a library with an electric fireplace.

There are a number of toys on board, including a popular water trampoline and two WaveRunners.

Come Together: 60 meters

Price: $65,000,000 Special Features: DJ and videographer on board, ice bath, sauna

Next-to-new yacht Come Together is looking for a new owner after doing charters during the 2023 season.

The Beatles' influence is evident beyond the yacht's name, with guitars dotting the sky lounge and a crewmember who doubles as a DJ. There's also an outdoor cinema and bar for entertainment and an ice bath and sauna for the day after the party. The owner's suite has a private study and lounge, and each guest cabin has its own ensuite.

The sale includes a number of toys, like Jet Skis, kayaks, and Seabobs.

Read the original article on Business Insider

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International Edition

Radiators fail once more: Moscow suburbs residents appeal to Putin

R esidents across the Moscow suburbs are besieged by a heating problem, for which they plead direct intervention from President Vladimir Putin. These individuals have yet to experience any semblance of home heating since winter started due to a dwindling supply of heating oil. The issue, one largely avoided by local authority communication, has left residents desperate to the point of directly appealing to the president.

While plots have been uncovered to disrupt Ukraine's infrastructure for a second consecutive winter, thus depriving civilians of heating, it seems Russians are now mired in their crisis. Irony drips from the fact that those under Putin's leadership are looking to cause turmoil in Ukraine, yet at home, they face a similar predicament.

Many dwellings within the Moscow agglomeration are presently without heat. The capital's residents are desperate, directly appealing to President Putin due to a perceived lack of alternate avenues for assistance. The absence of suitable heating functionality since winter commenced pushes them towards desperation with no relief in sight.

This seems improbable, but in Russia, it appears that anything can happen.

It remains uncertain if Vladimir Putin is actively addressing the heating crisis. Some experts suggest that Russia's heating oil reserves are depleting, which negatively affects residents' quality of life. Plagued by cold radiators and plummeting winter temperatures, these citizens have directly addressed their pleas to their head of state.

This heating crisis is happening in Elektrostal, a town approximately 71 miles from Moscow.

Ironically, Russia has constantly aimed to destroy the Ukrainian infrastructure since war broke out, deliberately trying to leave Ukrainians without heating during the harsh winters, aiming to break their strong will. It's an irony they now struggle with a domestic heating crisis, particularly near Moscow, their largest and most pivotal city.

Desperate individuals are reaching out to Vladimir Putin. They question his knowledge of the heating infrastructure conditions in the Moscow suburbs and the dire situations residents face there. Sundown brings no relief from the harsh Russian winter and without heating, their houses turn cold. With elections nearing, more and more residents find themselves reaching out directly to their president.

"Since winter's start, we've been without heating. This has been a yearly occurrence for the past three years. Despite paying for heating, we don't have enough. We implore you, help us!" - these are the desperate pleas from the heavily dressed populace dealing with the Russian winter conditions.

Experts attribute the heating oil shortage to international sanctions and surging demands for diesel fuel, pivotal to military operations. Russia now grapples with a dearth of raw materials essential for boiler and heating plant operation. As supplies dwindle, houses grow cold with little hope of any immediate corrective intervention.

It would be adequate if the war ceased, residents were prioritized, and attention accorded to their welfare.

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