FREQUENTLY ASKED QUESTIONS
Q. What is
A. A unique shared ownership program, typically used for private aircraft, super/mega yachts or real estate,
The MarNav Program™ provides managed yacht fleet ownership of a fleet of superyachts. The ownership, maintenance, inspections, compliance and owner usage aspects are all covered by
The MarNav Program™, freeing you from dealing with commercial superyacht ownership issues.
Bottom-line, you will be the proud owner of a fleet of five superyachts for the cost of one! In addition, you will benefit from overall fleet cost savings, tax savings, income, continuity, changeable yacht locations for your worldwide cruising pleasure and ten weeks of private, luxurious, fully-staffed cruising on your five different yachts in different locations – all with satisfaction and peace of mind.
Q. How many Owners are in the program?
A. Nine owners.
Q. What types of yachts are in the fleet?
A. We restrict our fleet to only superior standard motor yachts from 35 to 60 meters LOA. One yacht in the fleet is an Expedition yacht, capable of global cruising well off the beaten path. We look for build quality, construction integrity, safety, residual value and suitability for the respective cruising waters. Each yacht is equipped with virtually every amenity you would expect.
Q. What if my dream yacht is not within the current fleet?
If you’re interested in a specific yacht which is currently not in our fleet or if you currently own a qualifying yacht and are considering joining the fleet, please contact us.
Q. When can I use my yacht? How much time do I really get onboard?
During each calendar year, you're able directly to e-book in advance the use of your chosen yacht which allows you to plan your quality time onboard. You are guaranteed to reserve minimum ten weeks of cruising time each year and you may take them all at once or space them out as you please. It's completely flexible to ensure a consistently pleasant yachting experience.
Q. Where can I cruise with my yachts?
A. You can cruise virtually anywhere in the world and, because you have a fleet of five yachts, cover the world in a year!
Q. How long do I own my investment in a yacht? When can I sell it?
A. Your direct ownership is for an unlimited period of time and you can sell it at any point you wish. Typically though, owners tend to see a time horizon of five to ten years.
Q. What happens if another owner wants to leave the program or if I do?
The eight remaining owners under
The MarNav Program™ have the right of first refusal to purchase this share, which facilitates a quick sale. However, if none of the eight take up the option, then the MarNav company has the second option to purchase. To put this into motion, any owner wishing to sell simply notifies MarNav (Malta) Ltd. of his or her intentions.
Q. What are the actual economics of purchasing a share in
The MarNav Program™?
The initial purchase price is simply 1/9 of the cost of the fleet, paid usually as a lump sum on joining (see question on financing below). On a regular basis, detailed 12-month annual budgets are prepared for all operating costs, including berthing, insurance, maintenance, repairs, management, improvements, provisioning and crew. This total annual cost is then divided by nine and each owner covers 1/9 of the total, paid in a lump sum before the start of the respective yacht fleet ownership year. Each owner receives monthly and quarterly financial statements and is otherwise left to simply enjoy the yachting lifestyle, relaxed in the confidence of continuous support from an experienced, professional yacht management team.
Q. How will I know all of the yachts in my fleet are maintained to the standard I expect?
Our captains operate with a detailed maintenance schedule assigned by MarNav (Malta) Ltd and the flag state. In addition, each MarNav director conducts regular unannounced inspections of the yachts. Owners or their authorized representatives are always welcome to stop by any yacht, subject to schedule.
Q. What happens when something on the yacht breaks?
The chief engineer and second engineer are fully trained to repair most breakdowns and deal with emergencies.
The MarNav Program™ provides for unexpected or emergency onboard repairs by stocking a comprehensive set of spare parts on board each yacht. Stocking levels are established based on manufacturer recommendations and by monitoring historical data. In addition, a 24-hour MarNav in-house spare part sourcing and delivery service can be called upon as necessary.
Q. What if another owner damages the yacht?
Insurance provides for recovery of damages. Additionally, as part of their contract and as industry practice, the charterers provide a refundable one-time security deposit as a safe-guard against such damages.
Q. What is my equity position at the end of, say, five years?
Sales prices of used boats can fluctuate, but industry statistics and history suggest that after several years of use, well-maintained, quality yachts don't necessarily loose value in regards to their original price.
Q. What is my liability from another owner using my boat?
Each owner is equally insured in MarNav (BVI) Ltd., the entity that actually holds the policy. In addition to insurance, MarNav’s structure provides a corporate veil.
Q. Why Malta?
From a nautical, fiscal and operational standpoint, Malta has a very reputable flag, making it an excellent place to register a yacht. It also enjoys full European Union membership, which sets it apart from less reputable international finance centers and tax havens. Perhaps most importantly, English-speaking Malta is actively promoting its competitive advantages: a strong and positive legislative framework combined with a flexible, pro-business attitude and EU membership. There are significant tax advantages with a foreign-owned, Malta-flagged yacht. All VAT is refunded quarterly.
The MarNavProgram™ really something for me?
A. Yes, if you prefer a five-yacht dream fleet at only a fraction of the cost in addition to income from professionally operated charters which supplements maintenance expenses. You are left free to fully enjoy your time while all details have been taken care off. Quite simply,
The MarNav Program™ provides a rich-and-famous lifestyle alternative for those who value multiple superyacht ownership, flexibility and wish to enjoy cruising worldwide on any of their five superyachts. Discover how MarNav offers much more than just shared yacht fleet ownership.
Q. Is financing available?
A. External, third party financing sources have been introduced to
Q. How do I get more information about
The MarNav Program™?