Your most frequently asked questions answered.
Frequently Asked Questions
If you cannot find the answer to your question, please do not hesitate to contact us.
Yacht co-ownership offers owners the opportunity to co-own a yacht with multiple owners, creating an immediate saving 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 company (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 so 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 an equitable value. Title registration of the yacht can be sold at any time and SeaNet’s team of experts can assist with the sale.
Our research has shown that 95% of yacht owners use their yachts for a maximum of six-eight weeks each year, that’s why our unique co-ownership model reflects this and offers guaranteed usage. For example, for a co-owner who is one of four on a yacht, we offer the following structure: nine days on-board during pre-season (May, June), eighteen consecutive days during the peak season (July, August), nine days in the post-season (September) and two weeks in the peak Caribbean season (December-February). This structure ensures that every co-owner gets the maximum time on-board their yacht during the peak yacht seasons.
Yacht owners love to cruise both the Mediterranean and the Caribbean, that is why each year we suggest incredible itineraries that co-owners can choose from. The majority decides that year’s itinerary but thanks to the likeminded partnerships between co-owners, these itineraries are designed to suit the needs of everyone on-board.
SeaNet has a simple and effective rotation model whereby each co-owner takes it in turns to choose their preferred weeks. For example, for an ownership structure with four co-owners, everyone is guaranteed: nine days in the pre-season, eighteen days in the peak-season, nine days in the post-season and fourteen days in the Caribbean / Asia peak-season.
All yachts managed by SeaNet and set up in a co-ownership structure are private/non-commercially registered and VAT paid. Each owner can use their yacht with total freedom and without any of the issues that can arise from charter contracts.
As a co-owner, chartering your yacht when not on-board is not possible as it is a privately registered vessel.
We offer new and SeaNet approved pre-owned luxury motor yachts between 30 and 60 metres from the most globally renowned brands.
We focus on the needs and requirements of the client to ensure that they have the best yacht for their needs. We have five Azimut-Benetti yachts in our fleet and have a strong relationship with the shipyard. However, we also work with many other brands of yachts renowned globally for their superiority in design, technology, and on-board experience. In 2019, we sold a large percentage of the 52 metre San Lorenzo, our biggest matchmaking success so far.
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.
From the initial search for the perfect brand, size, design and configuration, to the contract negotiation, build supervision, delivery, registration and crew management, we handle every element of the build process ensuring it is as hassle-free as possible.
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.
Chartering is possible in the case of sole-ownership. In this instance, SeaNet will manage every element of the charter process, from marketing to booking and contracts.
This is a simple economy of scale; we manage several yachts in the SeaNet fleet and this enables us to offer the best rates with our suppliers. As the running costs of each yacht are shared by all the co-owners, we are always able to choose the highest spec possible and have all our yachts in perfect condition.
There is no fixed term on the contract; co-owners can enter or exit when they choose. We appreciate that personal situations can change over time and typically we see that co-owners stay between four-five years before upgrading or downgrading their yacht or exiting the co-ownership structure.
As pioneers of the yacht co-ownership concept our experience has shown that co-ownership is the most preferential option when it comes to the finances of owning a yacht. First time owners often overlook the myriad of costs that come with owning a yacht and look only at the possible income from charter. At SeaNet, we take a different approach and offer a bespoke ownership structure tailored to your specific needs. We would welcome the opportunity to discuss the details of co-ownership in comparison with sole ownership in more detail. Please do get in touch to find out more.
Our yachts have a contemporary style that appeals to a large group of owners. However, your yacht is your home from home and that’s why each owner can add their own personal items, be it art, toiletries, linen or tableware, so that when you step on-board it looks and feels just as you left it.
Yes, a combination of co-ownerships across multiple yachts is certainly possible and as SeaNet continues to grow we welcome ownership across our SeaNet fleet.
Every owner is responsible for the yacht during their time on-board. SeaNet are fully insured for the yacht, crew, and owners.
SeaNet was one of the pioneers of the rotational crew concept and increasingly we are seeing that it’s becoming the industry norm due to the advantages it offers owners. On a typical charter yacht the crew can be working on-board for six-seven months consecutively, resulting in fatigue and often people choosing to leave mid-season. At SeaNet, we offer our crews a 12-month contract in a rotational work scheme, with one month on and one month off. This not only attracts the best crews in the world, but it also ensures crew retention and the best experience for each owner. From a financial perspective, this is only an increase of 35% on the usual crew costs but the service experience is far better.
Yes, in order to become a co-owner, we have a premium that is included in our price. However, you benefit from savings of up to 75% of the initial price of the yacht and the annual running costs.
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.
With SeaNet this is a very straight forward process; we organise a meeting to discuss your needs and requirements and then we create a personalized offer. We invite you to take a full in-depth inspection of the yacht before joining us. The contracts are produced for review and once funds are received; you can start cruising. Contact: firstname.lastname@example.org
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