Independent professional services group Praxis has added the latest Amels 60 superyacht ’21.12’ to its growing fleet of integrated yacht services clients.
The superyacht is the sixth hull from the Dutch shipyard’s Limited Editions design fleet. 21.12 set sail on her maiden voyage from Vlissingen in October following successful sea trials.
The arrival of 21.12 in St Peter Port, Guernsey, in late October marked a homecoming for this impressive vessel. 21.12 is owned through a Guernsey-registered limited partnership, showcasing the comprehensive yacht ownership, management, and crew services offered by Praxis, together with Guernsey’s globally recognised limited partnership and protected cell company legislation.
Its services encompass every aspect of ownership and operations from crew management and payroll to ownership structuring and administration. Additionally, Praxis is also providing 21.12 with full ISM safety management, ensuring expert handling of every detail.
Appointed at the pre-build stage, Praxis has been involved in the yacht from concept to launch, working closely with the build captain and the client’s tax advisory team to ensure the smooth management and creation of the yacht and the ownership structure, which was established in advance of the build contract being signed with the shipyard.
Yacht Services Director Bruce Maltwood commented, ‘As a regulated service provider, working with us from the beginning of a yacht build provides multiple benefits, from the initial setting up and administration of the corporate ownership structure to our assistance with the stage payments, milestone arrangements, owners’ supplies, VAT and insurance. Putting the right ownership structure in place before the build contract is signed is essential, both from an operational and personal tax perspective.
‘Post-Brexit, Guernsey’s reputation for efficient company incorporation, combined with favourable fiscal treatment for non-resident shareholders and our specialist knowledge delivering a quality, personal service has seen the jurisdiction become increasingly attractive for yacht ownership.’
Guernsey’s innovative protected cell and incorporated cell company legislation is also a popular structure, used by owners alongside the owning structure as a vehicle for crew services.
Bruce added: ‘Having seen 21.12 under construction during our yard visits and at the official launch in September, we are incredibly proud to now welcome this yacht into our fleet and to Guernsey, where our local legislation enables us to provide centralised yacht ownership, management and crew services supported by Praxis’ in-house specialist tax team.’
The 60-metre, 830 gross tonnage fuel and electric hybrid yacht was designed by Espen Øino in collaboration with Damen Yachting. Featuring a stunning metallic blue hull and interior designed by Andrew Winch, the yacht arrived in Guernsey, Channel Islands, on a refuelling trip ahead of her first Atlantic crossing, where she will over-winter in the Caribbean. She is the first superyacht to refuel in Guernsey using a blend of diesel and hydrotreated vegetable oil (HVO) renewable fuel.
PraxisIFM Trust Limited provides yacht ownership services under its Guernsey fiduciary licence and is regulated by the Guernsey Financial Services Commission.
Find out more about Praxis’ yacht ownership services https://www.praxisifm.com/services/yacht-services/yacht-ownership-services/
