BWA Yachting, leading worldwide provider of marine agency services to superyacht owners and their crews, would like to inform you about a new flag regulation in Turkey. This new regulation has been introduced by the Turkish Government and regards foreign-flagged commercial and private yachts. It encourages particularly Turkish citizens who own a yacht to ensure that they use the Turkish flag to signify their vessel's flag state. It is not compulsory to change to Turkish flag, all yacht owners are free to choose whether they want to change their flag or not. There are four main requirements for yacht owners who decide to change to Turkish Flag:
1. Being able to produce the original registration, or any registration document showing that the yacht was acquired prior to 27/01/2017, and is registered in the State whose flag the vessel is flying.
2. Being able to produce a Turkish ID-Nr, if the person registered as the owner is a real person, and an authorised signatory list, publication at trade register and tax number, if the owner is a legal entity.
3. Being able to produce a residence permit, if the owner is not a Turkish citizen.
4. The commitment that a document, proving that the old flag has been abandoned, will be brought within 60 (sixty) days from the date of application. Costs involved:
1% of the commercial value of the yachts must be paid as VAT at customs. The value of the yacht must be the same as the value on the insurance. The inception date of the insurance must be before 27th January 2017. If there is no insurance or the inception date is not appropriate, the Harbour Master will appoint an expert.
Harbour Master fees (calculated on base of yacht’s length):
5m – 8,99 m = 406, 70 TL
9 m – 11, 99 m = 813,70 TL
12 m – 19,99 m = 1627,65 TL
20 m – 29,99 m = 3255,60 TL
over 30 m = 6511,60 TL
The new regulation is beneficial both for Turkish citizens and foreigners because they can keep using the Turkish flag after paying only once at 1% VAT, without incurring further tax payments. They will, therefore, benefit from yacht tourism in Turkey for the upcoming season.
For more information and additional clarification please contact Mr. Ugur Kara, Managing Partner of BWA Yachting Turkey at firstname.lastname@example.org