Greece has a very unique regulatory world within the EU and affords itself a special relationship with Turkey. This concerns especially the execution of charters with EU yachts.
Since 2019, we have a partner office in Athens as well as Thessaloniki/Greece, with whom we have worked out a number of interesting structuring options for the economic operation of a yacht in third-party and own charter operations under the current legal and tax framework in Greece Cyprus.
If you want to operate a yacht mainly in Greece in a mix of third-party and/or own charter, you will find there the peculiarity that the authorities currently always require a branch office in Greece. So, if the pure VAT arrangement via a Greek VAT ID with the calculation and payment of the local VAT on charters taking place in Greece is not sufficient, then it can make sense and be economical to flag directly in Greece and to establish a small shipping company there through which the boat is managed and chartered out.
If you want to sail with your charter yacht in the area of Greece/Turkey, you are well advised to analyze and arrange the legal and fiscal particularities beforehand.
We offer a complete legal, tax and management service together with our partner team in Athens and Thessaloniki.