If you can’t find the answer to your question in the FAQ-list below, please do not hesitate to contact us.
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.
Special Purpose Vehicle (SPV) is created to facilitate the co-ownership. This SPV is a legal entity that holds ownership of the yacht. Co-owners purchase shares in the SPV, with their share percentage reflecting their ownership portion of the yacht (e.g., 25%, 33%, 50%).
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.
All yachts managed by SeaNet and set up in a co-ownership structure are privately/non-commercially registered and VAT-paid status. Each owner can use their yacht with total freedom and without any of the issues that can arise from charter contracts.
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.
We offer new and SeaNet-approved pre-owned luxury motor yachts between 24 and 60 meters from the most globally renowned brands.
We focus on the needs and requirements of the client to ensure they have the best yacht to fit their needs.
We have a specialized focus on the Azimut/Benetti brand, and we have a strong relationship with the shipyard. However, we also work with other leading brands renowned globally for their superiority in design, technology, and on-board experience.
Our main planning and co-ownership structure is set up and divided in 6 x 16,66% shares.
The advantage of this structure is that it gives us maximum flexibility in combinations of shares that can be sold and this not only at the start of a new co-ownership structure but also after a few years when co-owners want to increase and /or downsize their co-ownership percentage without having to sell their entire stake. To show the multiple co-ownership combinations based on our standard co-owning structure, the following list provides an overview:
Based on our experience of the past 8,5 years a 3 x 33,33% share structure is the optimum balance in available time on board, flexibility in planning based on priority ranking and the yacht purchase price and annual running costs compared to sole ownership.
Nevertheless, we see that a large amount of our co-owners has chosen to purchase a 1/6th share (16,66%) as this share is already offering them 10 days out of season and 12 days main season yacht use in the MED and 12 days during the WINTER. This total of 32 days/year or almost 5 weeks is indeed from a time perspective for most yacht buyers enough. Also, from a financial perspective our 1/6th share is the most attractive but from a planning flexibility point of view it is less attractive. The choice remains up to each co-owner who enters in our co-ownership structure.
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:
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%.
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.
Prior to each season, SeaNet suggests various cruising options to the co-owners based on SeaNet’s experience and the co-owners feedback. The cruising region with the most votes becomes the final route. It is SeaNet’s responsibility to offer sufficient variation in the cruising regions.
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.
DYT = Dockwise Yacht Transport
DYT specializes in the safe and efficient transatlantic transport of yachts, minimizing wear and tear on the vessels.
DYT operates semi-submersible transport ships specifically designed for yacht transport. These ships utilize a “float-on, float-off” method, where yachts are floated onto the vessel, securely fastened, and then transported to their destination.
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 24 and 60 metres from the most globally renowned brands.
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: info@seanetco.eu
The annual estimated running costs cover:
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.
Our yachts are privately registered and charter rules do not apply. So co-owners are not obliged to give tips to the crew. We have noticed however that in order to retain the crew, we needed to adapt this and around 12-16 months ago we have proposed a tipping policy to the co-owners albeit not to the same percentage as what is common in the charter industry. On the condition that co-owners and guests were genuinely satisfied with the service on board we have set the tip at a fixed maximum amount of €1,000 per crew member.
No, there are no extra charges for these services.
Each year in October we prepare and send the budget for the upcoming year’s running costs. This means you will receive a detailed overview of your expected expenses well in advance. You will have the opportunity to review this budget and ask any questions before we proceed. An invoice will be sent beginning of December and has to be paid before the end off the year for the upcoming year.
In the period 2021-2024 there has been a 16% increase in cost. This increase has been caused by the inflation of labor and spare parts cost. In a next stage we will be happy to share historical data in more detail if required.
If major repairs are predicted, they will be part of the budget. We don’t budget for unexpected expenses. If unexpected expenses would lead to an overrun of the budget, this overrun will be shared among the various co-owners as per the percentage of ownership.
• 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 Carabian 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.
No restrictions per se but as explained above, everything depends on the schedule and your ranking for that specific season.
As a management company, we can suggest a slot change to another owner on your behalf. However, we cannot guarantee that a slot change will be accepted by another owner.
You are the co-owner of the yacht and you will have allocated slots. If you cannot use your slot, you will lose that slot unless another owner is willing to swap their slot. There is no penalty but also no compensation for planning slots not used.
As explained, the co-owners will receive a budget proposal for each calendar year and they will have the possibility to ask questions or make remarks to which SeaNet will respond accordingly. If an owner has suggestions for upgrades, these suggestions will either be part of the next budget or they will be discussed with the other co-owners to hear their opinion. The majority vote of the co-owners is defining the decision.
Yes, insurance is part of the annual running cost.
The insurance covers Hull & Machinery, P&I as well as crew welfare insurance for the main vessel and day boat:
As the owner, you are responsible for the costs to be paid in case of damage caused by you or your guests on board. Suppose you damage a seat, then that cost will fall on you and will not be shared among the co-owners. Yacht damage caused by the crew will primarily be covered by the insurance and the franchise will be paid by all co-owners.
There is no fixed term that the yachts will stay in the fleet. It depends on the yacht, running hours and the co-owners when they feel it would be the right time to sell the yacht. SeaNet will share their expertise and lead this discussion. In general, we suggest a “re-fresh” of the yacht after 4-5 years to maintain the yacht in a top condition. A decision point to go for a more extensive re-fit or to put the yacht on the market is probably around the 8 to 9 year mark.
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, there is certainly a market for secondary yacht shares. We have done multiple deals with co-owners selling their share to upgrade to a larger yacht or bigger share in a similar yacht.
• The asking price for the share will be decided by the owner. SeaNet will advise the owner based on current market conditions and timing, but the final decision is up to the owner.
• There is no fixed term that the yachts will stay in the fleet. It depends on the yacht, running hours and the co-owners when they feel it would be the right time to sell the yacht. SeaNet will share their expertise and lead this discussion. In general, we suggest a “re-fresh” of the yacht after 4-5 years to maintain the yacht in a top condition. A decision point to go for a more extensive re-fit or to put the yacht on the market is probably around the 8 to 9 year mark.
• There is no fixed term that the yachts will stay in the fleet. It depends on the yacht, running hours and the co-owners when they feel it would be the right time to sell the yacht. SeaNet will share their expertise and lead this discussion. In general, we suggest a “re-fresh” of the yacht after 4-5 years to maintain the yacht in a top condition. A decision point to go for a more extensive re-fit or to put the yacht on the market is probably around the 8 to 9 year mark.
With us, every yacht comes with a dedicated chef who prepares top-level dishes tailored to your preferences. Additionally, our team includes a hospitality manager responsible for ensuring a seamless experience for all our co-owners. She takes care of reservations for restaurants, hotels, flights, private jets, excursions, museums, sightseeing, and more. This service is fully included in our SeaNet yearly management fee.
For us, one rule is essential: the number of guests on board must not exceed the number of available beds. On our Benetti Mediterraneo, this means a maximum of 10 guests in total, no more. However, I can assure you that this is more than sufficient for a comfortable and luxurious experience.
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
Each year in October, we prepare and send the budget for the upcoming year’s running costs. This means you will receive a detailed overview of your expected expenses well in advance. You will have the opportunity to review this budget and ask any questions before we proceed. An invoice will be sent at the beginning of December and must be paid before the end of the year for the upcoming year.
In the period 2021-2024, there has been a 16% increase in cost. This increase has been caused by the inflation of labor and spare parts cost. We will be happy to share historical data in more detail if required.
If major repairs are predicted, they will be part of the budget. We don’t budget for unexpected expenses. If unexpected expenses would lead to an overrun of the budget, this overrun will be shared among the various co-owners as per the percentage of ownership.
Our yearly budget process is the following:
o in the month of February, the Q4 and year end closing of the past year.
o in the month of May, the Q1 financial report of the actual year.
o in the month of August, the Q2 financial report of the actual year.
o in month of November, the Q3 financial report of the actual year.
Our yachts are privately registered, and charter rules do not apply. So, co-owners are not obliged to give tips to the crew. We have noticed, however, that in order to retain the crew, we needed to adapt this, and around 12-16 months ago, we proposed a tipping policy to the co-owners, though not to the same percentage as what is common in the charter industry. On the condition that co-owners and guests were genuinely satisfied with the service on board, we have set the tip at a fixed maximum amount of €1,000 per crew member.
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.
Our planning process always starts 7 months before the start of the following season, MED or WINTER. At that moment all co-owners receive from us 3 sailing region proposals based on the sailing region history of the yacht of the past years to ensure continuous variation and the ability to sail all over the MED. The final choice of our sailing regions for the different seasons is based on a co-owner’s majority voting process (majority = a minimum of 51%). Our contractual engagement as SeaNet Management Company is to have our planning closed latest 6 months before the start of the next main season (MED or WINTER). This entire planning process is fully managed & handled by SeaNet. The only involvement of each individual co-owner is to give us his personal preference. There is NO communication between the individual co-owners.
We always plan our co-owner’s arrival and departure locations around airports and in a way that we avoid unnecessary sailing, time loss and fuel consumption during his trip on board. For co-owners’ convenience we always provide a detailed itinerary overview but it remains up to each co-owner’s decision where to sail as long as the arrival- and departure port is respected.
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.
With full rotational crews on all double-season yachts, our scheduling clearly indicates the captain assigned for each specific month.
Due to the annual engine usage of 600-650 hours per yacht, we schedule a full winter maintenance stop in Croatia every third year, effectively skipping the winter season. This results in a comprehensive maintenance period in the Mediterranean after five sailing seasons (three Mediterranean and two winter)
No restrictions per se, but as explained above, everything depends on the schedule and your ranking for that specific season.
As a management company, we can suggest a schedule change to another owner on your behalf. However, we cannot guarantee that a schedule change will be accepted by another owner.
You are the co-owner of the yacht, and you will have allocated slots. If you cannot use your slot, you will lose that slot unless another owner is willing to swap their slot. There is no penalty, but also no compensation for planning slots not used
You are the co-owner of the yacht, and you will have allocated slots. If you cannot use your slot, you will lose that slot unless another owner is willing to swap their slot. There is no penalty, but also no compensation for planning slots not used
We offer a fully inclusive service and complete management of your yacht. Thanks to our close relationships with shipyards, naval architects and suppliers, we provide you with the best support on how to efficiently, safely and cost-effectively manage your yacht. Working with an established safety management system tailored to each yacht based on its specific operations, our management team is well versed in international codes and conventions for safety, security and maritime labor and the requirements for each Flag State.
Our highly experienced team is dedicated to providing you with a full spectrum of yacht management services, each tailored to your specific needs.
SeaNet’s hospitality management offer a comprehensive suite of services aimed at ensuring a smooth and enjoyable experience for yacht owners and their guests.
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. 😊
Each year, co-owners receive a detailed budget proposal, allowing them to ask questions and provide feedback, which SeaNet will respond to. If an owner wishes to suggest upgrades, they can either propose them for inclusion in the following year’s budget or initiate a discussion with the other co-owners. The final decision is determined by a majority vote of the co-owners.
As explained, the co-owners will receive a budget proposal for each calendar year, and they will have the possibility to ask questions or make remarks, to which SeaNet will provide a response. If an owner has suggestions for upgrades, these suggestions will either be part of the next budget or they will be discussed with the other co-owners to hear their opinion. The majority vote of the co-owners defines the decision.
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. *
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