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Before starting charter activity - Owning company obligations June 2017
Does the yacht owning company need to register for VAT?
Yes, before starting any charter activity.
What is the process?
The yacht owning company must appoint a VAT representative based in Croatia. The VAT representative will apply for VAT registration on behalf of the owning company.
What does a VAT representative do?
The VAT representative acts as the local agent/representative of the company and is responsible for administrative compliances including collecting and paying VAT to the government and filing VAT returns. The VAT representative also issues the invoices for the charter to the charterer on behalf of the owning company.
How long does the process take?
It can take between 4 and 6 weeks. The yacht may not start charter activities until all the authorizations are in place.