The attorneys at Miller Watson PLLC are familiar with the sales, use and property tax laws in nearly every state where yachting is relevant. We often work with our clients to develop a strategy that will allow them to limit their exposure to such taxes. Avoidance of tax exposure is largely dependent on a client’s residency, vessel usage and ultimately, their level of flexibility. We can advise our clients as to whether there are practical ways to limit exposure in a particular scenario.
Managing yacht transactions for our clients worldwide
Our attorneys assist clients with yacht transactions of all sizes all over the world. Whether representing a buyer or a seller, we routinely manage the entire process on behalf of our clients, starting with the offer all the way through closing and registration.
Assisting clients with vessel registration services worldwide
The attorneys and staff at Miller Watson PLLC have many years of experience providing registration services, including U.S. Coast Guard documentation, state registrations and foreign flagging. Our firm is able to handle registrations in essentially any jurisdiction in the world.
Protecting clients from unexpected tax liability
Each state has its own body of laws with respect to sales, use and personal property taxes. It is important for all owners to be familiar with the rules in each jurisdiction to which they travel with their yacht.
Assisting parties in yacht transactions without broker representation.
Yacht brokers certainly carry a lot of value, but there are scenarios where an owner may sell his yacht without the assistance of a broker. In the event a broker is not involved, buyers and sellers will benefit from having a basic understanding of the purchase and sale process and should utilize various resources at their disposal both before and after closing. The attorneys at Miller Watson PLLC can draft the necessary documents, hold funds in escrow, and manage a closing when a broker is not involved.
Assisting with and coordinating offshore closings
In certain yacht transactions, clients may find that it is advantageous to conduct a yacht closing offshore. The attorneys at Miller Watson PLLC can assist with drafting the necessary documents and coordinating with all parties involved to ensure that the offshore closing proceeds smoothly and is completed properly.
Assisting clients with all aspects of new yacht construction
The maritime attorneys at Miller Watson PLLC have the experience to guide clients through every step of the new yacht construction process, from negotiation of the construction agreement to the yacht’s final delivery.
Assisting clients with formation and structure of entities for purposes of yacht ownership
Our attorneys can advise clients on the type and ownership structure of an entity, depending on a variety of factors related to the yacht and its planned usage by the owners.
Advising Clients on Crew Employment Matters on an International Scale
Employing crew members on a yacht is often necessary to operate a yacht and give the owner’s and guests the best possible experience. However, navigating the complex, cross-border rules and regulations involved with crew employment can be cumbersome. Our maritime attorneys are well versed in the crew issues facing yacht owners and we assist clients with crew employment related matters at the global, regional, and local levels.
Assisting Financial Institutions and Private Individuals with Marine Finance Solutions
In principle, loans to finance the purchase of a yacht are similar to other loans used to acquire asserts and property. However, marine finance is highly specialized and governed by unique laws. Our experience in yacht and vessel finance encompasses both United States and foreign law transactions.
Advising clients on the complex rules surrounding yacht charters
It is common practice to purchase a yacht and run charters to offset some of the costs. Charter operations of all types can be successful if set up properly and with the appropriate expectations, but all state laws, federal regulations and flag state rules must be closely followed. It is important for owners and crew to understand the different types of charters and be familiar with the applicable regulations.
Assisting clients with navigating complex maritime rules and regulations worldwide
Owning a yacht is supposed to be a pleasurable and relaxing experience, but keeping current with maritime rules and regulations can be daunting. The attorneys at Miller Watson PLLC have the expertise to help you navigate the numerous maritime rules and regulations involved with yacht ownership so that you can enjoy carefree time on the water.
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