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Compliances for EU and non-EU commercial yachts and the French Commercial Exemption (FCE)June 2016
Are there any other compliances for commercial yachts chartering in France?
Non-EU yachts must be imported and in free circulation in the EU before they can start charter operations. Under the French Commercial Exemption (FCE) non-EU yachts can be imported without VAT being paid on the hull.
What is the FCE?
The French Commercial Exemption is a system which enables:
1. Non-EU commercial yachts to be imported and released into free circulation in the EU 2. EU and non-EU commercial yachts to enjoy VAT exemption on the purchase of goods and services in France/Monaco if the yacht complies with a number of specific requirements.
What are the FCE requirements?
The yacht must:
a. be commercially registered
b. have permanent crew
c. have a charter contract in place
d. be longer than 15mt
e. do more dynamic than static charters
f. do at least 70% of charter trips outside French waters