F.A.Q

Yacht co-ownership is a model where multiple individuals share ownership of a yacht, significantly reducing the financial burden compared to sole ownership, (creating potential savings of up to 75% of both the initial capital outlay and the annual running costs. )

The SeaNet co-ownership process enables multiple owners to purchase a new or very recently built, fully equipped yacht through a Special Purpose Vehicle (SPV) that SeaNet will assist in creating. Each co-owner owns a share of the company, and that share equates to the percentage ownership of the yacht, meaning ownership can vary from 25%, 33%, 50%, or more.  

SeaNet is appointed as the yacht’s management company and will handle every aspect of the yachting experience, from maintenance and crew to charter, concierge, and much more.   

Whereas a timeshare requires people to purchase the right to use a product without actual ownership, with SeaNet’s unique co-ownership model, each co-owner owns a share of the yacht, which represents a proportional value. Title registration of the yacht can be sold at any time, and SeaNet’s team of experts can assist with the sale.   

Based on our extensive experience as pioneers in yacht co-ownership, we’ve found it to be a financially advantageous ownership model. Many first-time owners underestimate the significant costs associated with yacht ownership, focusing solely on potential charter income. At SeaNet, we offer personalized ownership structures tailored to your needs.

We recommend contacting us for a detailed, customized comparison of co-ownership versus sole ownership.   

The “APA” (Advance Provisioning Allowance)
The APA covers owner expenses such as food, drinks, fuel (usage-based), marina fees, and other related costs for the time the owner is on board. At the end of your time onboard, the crew will provide a detailed expense statement outlining all purchases and expenditures.

We offer a fully inclusive service and complete management of your yacht. Our experienced team will present a range of management options that can be tailored to suit your needs. These include crew recruitment and payroll, yacht maintenance, winterisation, homeport, insurance, annual budgeting, reporting and itineraries.

In our standard co-ownership set up each 1/6th part is related to one OWNER LETTER: A1, A2, B1, B2, C1 or C2. 

Our double-season yacht usage plan is structured with Mediterranean sailing from May 1st to October 14th, and winter sailing from December 23rd to March 17th. This schedule provides owners with 132 yacht usage days in the Mediterranean and 60 days during the winter, totaling 192 days per year.

A 33,33% share in our standard co-ownership set up of 6 x 16,66% gives the owner a total of 64 days/year with the following split out:

• 1 x 10 days in the pre-season in the MED between May first and June fifth.
• 2 x 12 days in the main season in the MED between June tenth and September fourth. 
• 1 x 10 days in the post-season in the MED between September ninth and October fourteenth. 
• 2 x 10 days in the winter-season in the Caribbean or Bahamas between December twenty third and March seventh. 

A total of 64 days or 9 weeks/each year is a lot of time BUT it also gives you double of the flexibility and priority in yearly planning compared to a 1/6th share. 

Co-owning a 33,33% share in a Yacht, with a total of 64 days/year, compared to sole ownership where you own 365 days/year reduces your potential waste in time by 82%.

To ensure equal rights for all co-owners, we use a structured planning system linked to a ranking system. This system guarantees that each owner enjoys fair and balanced access to the yacht throughout their ownership. The planning system divides the year into different seasons: pre-season, post-season, main season in the MED, and winter season in the Caribbean or Bahamas. The ranking system ensures that each owner gets the opportunity to choose his planning slot based on a fair rotation process. We would be happy to explain this in more detail during a video call.

As a co-owner, chartering your yacht when not on-board is not possible as it is a privately registered vessel.

Each shareholder has the right to sell their share at any time. All of our contracts include a “first right of refusal,” which grants the other co-owners the option, but not the obligation, to purchase the share being offered for sale. If there is no interest from the other co-owners, SeaNet will list the share on the market. Contractually, SeaNet holds the exclusive brokerage right for the initial six months. If the share remains unsold after this period, the selling co-owner has the right, but not the obligation, to appoint another broker. SeaNet will provide the selling co-owner with price recommendations; however, the final decision on pricing rests with the selling co-owner.

The depreciation of a yacht depends on many factors, but it usually pretty steep in the first 5 years and then softens afterwards. For GRP yachts, the average depreciation in the first 5 years is estimated around 40-45%.

Before we start marketing a share, the other co-owners contractually have the first right of refusal so the shares will always first be offered to the other co-owners. If none of the co-owners are interested in the offered share SeaNet will market the share.

Yes, insurance is part of the annual running cost.

The insurance covers Hull & Machinery (H&M), Protection & Indemnity (P&I), as well as crew welfare insurance for the main vessel and day boat. *

Yes, in fact the founder of SeaNet Europe, Matty Zadnikar is an experienced yacht owner himself and he can share his own experience and knowledge throughout the entire build process. SeaNet’s team of experts will be on-hand to assist and guide you through the complexities of yacht building.

We create a completely transparent budget for the yearly running of the yacht which includes all aspects of yacht ownership: full maintenance of the engines, generators, interior and exterior detailing, winterisation, transportation (to the Caribbean, for example) crew, management fees and concierge. The budget only excludes your food and beverages, fuel, and the personally selected harbours that you enter. No crew tips are required.

Customization: Every service can be tailored to suit your specific needs.

Expertise: Our team consists of experienced professionals dedicated to your yacht’s success.

Convenience: We manage the details, allowing you to focus on enjoying your yacht.

Reliability: We ensure your yacht operates safely and efficiently, with regular updates and proactive solutions.

Key advantage of SeaNet: direct, personal experience from an owner’s perspective.

Real-World Understanding: K The founder’s long-term yacht ownership provides firsthand knowledge of the challenges and needs of yacht owners. This goes beyond theoretical knowledge; it’s grounded in practical experience and on genuine understanding.

In essence, SeaNet positions itself as a company that understands its clients because its leadership is its clientele.