Residents of Europe, thinking about moving to Montenegro, begin their journey with the acquisition of real estate, but soon they have a need for a yacht and a car. Car companies are widely known, but how to buy a yacht in Montenegro?
Our task is to shed light on the Montenegrin yachting market, designate price boundaries, and tell about the additional costs related to the maintenance of the future purchase.
The purchased yacht must be registered – we will also write about this procedure in a separate subsection.
The content of the article
Sea dream – sale of yachts in Montenegro
There are many “top” manufacturers of yachts, well-established in the Adriatic market. Among them it is worth noting:
- Sunseeker, Fairline и Princess (Great Britain);
- Windy, Nidelv (Norway); and
- Ferretti, Riva, Azimut-Benetti (Italy).
The list can stretch to infinity.
How to navigate in this ocean of proposals? First, you have to answer three key questions:
- How much are you willing to spend? It’s not just about the price of the yacht itself.
The maintenance of a beautiful toy will also cost you a pretty penny for:
- purchase of additional equipment;
- parking in the marina;
- annual swimming fee in Montenegro; and
- probable repair costs (there is nothing eternal).
- The purpose of the yacht. There are two options – you need a toy for:
- easy walks in the Adriatic water area; or
- serious and long expeditions.
If a pleasure model is chosen, but then you decide to arrange an around-the-world adventure, you will have to change the yacht using the trade-in dealer system.
- The size of the yacht. Suppose you have enough money to buy a large motor yacht, but do you need it? Do you set the sails every day with friends? Do you know that the size of the yacht directly affects the cost of parking and service? You need to carefully weigh all these points.
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So, for each item listed above, a decision has been made. You’ve realized that buying a yacht is a dire necessity.
Note that prices are based on:
- year of manufacture, and
- state of mechanisms and rigging.
So how much does it cost?
- yachts of 2003-2005 manufacture years (Astondoa, Faserind, Azimut) – 220-700 thousand Dollars;
- yachts of 2006-2007 manufacture years (Zeelander, Dominator, Cruisers Yachts, Meridian, Alen) – 165,000 – 2,200,000 Dollars; and
- yachts of 2008-2010 manufacture years (Fairline Targa, Proficiat Yachts, Larson, Meridian) – 390,000 – 3,300,000 Dollars.
Here is a short list of budget options:
- Hanse 385 (11-meter yacht with three cabins, 2012) – 105,000 Euros;
- Bavaria 44 Vision (13.7 meters, 3 cabins) – 130 thousand Euros;
- Lagoon 380 (11.55 meters, 4 cabins, 2009) – 150 thousand Euros; and
- Bavaria 50 (15-meter yacht with four spacious cabins) – 189 thousand Euros.
These are reliable, high-speed and comfortable vessels with excellent seafaring characteristics.
Swift Trawler from this manufacturer will cost you only 175-260 thousand Euros (depending on the novelty of the configuration).
Register the purchased yacht
The year 2008 was marked by the adoption of an updated draft law “On Yachts”, which has significantly simplified the legalization of the vessel being purchased.
Here are the key benefits of this law:
- A yacht can be registered by a foreign person (natural and legal).
- You will not have to pay VAT and customs clearance.
- The cost of registration has decreased.
- You can register a yacht within 10 days.
In the territorial waters of Montenegro, it is best to go under the flag of this country but you only get this right after inspection of the yacht by an inspector.
When the yacht passes the registration procedure, it can be chartered – the law allows this.
The estimated price of registration is as follows
- 11 meters – about 900 Euros;
- 14 meters – about 1,800 Euros;
- 20 meters – about 3,200 Euros.
Maintenance of the yacht
The maintenance of the yacht consists of several points:
- Survey services:
- inspection and testing of your yacht;
- drawing up a list of defects.
Usually, a buyer who wants to identify potential defects in a yacht prior to its purchase resorts to a survey.
Also, the surveyor may be engaged in monitoring the process of building a yacht.
- Legging the yachts. The vessel you purchased must be delivered to your place of residence (or to the marina where the parking has been paid).
- Service maintenance. It is not necessary to remind about the need for proper maintenance of the yacht and regular technical inspections. The service cost depends on the class of the yacht.
- Purchase of additional equipment. You will probably need:
- accumulator batteries,
- signal pistol,
- ambulance box,
- life jackets,
- picnic equipment, and many other “little – things” that will pull the Euros out of the wallet.
- Mooring in the marina.
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Mooring in the marina
Price may vary depending on the season and the length of your vessel. Here are the average prices by the length in meters:
- 6-12 meters – 1,500-2,800 Euros/year;
- 13-20 meters – 3,160-5,110 Euros/year;
- 21-25 meters – 5,520-8,300 Euros/year; and
- 26-30 meters – 9,000-12,000 Euros/year.
It also happens that the size of the yacht exceeds the mentioned dimensions – then you will have to negotiate the parking price personally.
Mooring in the marina means not just standing off the yacht in the water, but a list of certain services, such as:
- round the clock security;
- control over moorings;
- 7% VAT;
- tax (5.2 Euros per running meter of the ship).
In case you purchase a catamaran, parking will go up by another 50%. You have to negotiate additional services separately.
The conclusion is simple. Building cash balance and buying a yacht is only half the battle. To afford the maintenance of this vehicle, you need to have an impressive annual income and an understanding of the seriousness of the purchase.