Offering your yacht for charter in the U.S. may sound like an attractive option to recoup some costs of owning and operating your luxury yacht. However, there are some very important implications you must consider to ensure that you are chartering properly, otherwise you could face some serious consequences. This article discusses some of the implications to consider, but it is summary in nature and each charter situation is specific, therefore it is imperative to speak with a qualified professional before setting up your charter operation in the U.S.

Types of Charters:

Hurricane Irma caused extensive damage to yachts, property, and personal possessions throughout Florida, the Florida Keys, the Caribbean, Bahamas, and the Turks and Caicos. If your yacht, property, or possessions were damaged in the storm, you may be facing the daunting task of filing insurance claims in order to restore your losses. It is important to properly document hurricane damage, and follow proper procedures according to your insurance policy in order to avoid a claim denial. Miller Law, PLLC can help you throughout the entire claim process.

Hurricane Irma decimated several Caribbean Islands with catastrophic winds, rain, and storm surge. Many people lost their homes, possessions, businesses, and their livelihoods. The Virgin Islands yacht charter fleet was hit particularly hard. Numerous charter vessels were sunk or destroyed along with many of the businesses that were directly tied to the charter industry.

One of the main decisions a yacht owner must make when purchasing a yacht is how to register or document the vessel. Foreign flag registration versus United States documentation has long been a topic of debate in the yachting community. There are many factors that must be considered before making the choice. Several factors that may affect the choice between foreign flagged registration and U.S. documentation are discussed below.