Regulation – Page 26
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NewsGlobal Covid-19 update
The International Council of Marine Industry Association (ICOMIA) and its member associations are providing regular updates to a ’living’ State of the Industry report tracking the latest regulations regarding COVID-19 and the specific impacts on the boating sector in countries across the world.
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NewsUS Paycheck Protection Program begins 3 April
Boat dealers and small builders in the US can begin applying for economic relief this weekend under a new government program put into place to stem the financial effects of the COVID-19 pandemic.
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NewsGlobal COVID-19 Update
The International Council of Marine Industry Associations (ICOMIA) and its member associations have provided a ’State of the Industry’ report covering COVID-19 restrictions implemented in countries across the world, particularly as they apply to the boating sector
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NewsEBI supports open EU borders for goods and introduction of ‘green lanes’
support open EU borders for goods and introduction of the green lanes
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NewsWhat the US$2 trillion relief package means to the boating industry
With over half the US under ‘stay at home’ orders from state or local governments, President Trump has signed a US$2 trillion economic relief package aimed at workers and businesses of all sizes, while separate action has seen additional action on tariffs. The package allows businesses to delay payment of ...
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NewsDutch sector seeks guarantee fund as economic outlook darkens over coronavirus
The coronavirus will force a 3.5% drop in Dutch economic growth this year, says ABN AMRO. The Netherlands’ third largest bank sees growth returning in 2021, possibly by as much as 2.5%.
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NewsCanada passes USMCA trade agreement into law
The Canadian government passed legislation on Friday ratifying the new US-Mexico-Canada Trade Agreement (USMCA) before shutting down until April 20 as a result of the developing Covid-19 coronavirus pandemic.
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NewsEuropean Boating Industry welcomes EU Industrial Strategy
EBI secretary general Philip Easthill: Smaller companies are the ”backbone” of European industry European Boating Industry (EBI) has responded to the release yesterday of the European Commission’s flagship Industrial Strategy and SME Strategy, saying that it welcomes their potential to ”support the recreational boating industry in Europe ...
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NewsGreece to simplify yacht legislation
Greek yacht legislation is expected to be simplified over the coming month. For now, the main measures include: Pleasure yachts registered under the EU Flag Yachts will be free to sail in Greece with less bureaucracy, and formalities will be available through online platforms. DEKPA, the certificate for private pleasure ...
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NewsLawyers’ statement in Sunseeker dispute
Lawyers acting on behalf of the prospective owners of a 74ft Sunseeker yacht, which was impounded by US marshals at the Fort Lauderdale International Boat Show in November, have made the following statement after the recent Federal Court ruling that the yacht should be returned to Sunseeker USA: “Mr and ...
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NewsNMMA Canada lobbies parliamentarians in bid to head off luxury tax
Representatives from NMMA Canada and regional boating trade associations nationwide descended on the Canadian national capital on Thursday in a coordinated lobbying effort aimed at convincing legislators to rethink a proposed 10% luxury tax on boats of more than $100,000.
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NewsSunseeker USA wins court ruling to recover seized yacht
District court finds in favour of Sunseeker USA and orders return of 74ft Sport Yacht seized at the Ft Lauderdale boat show in November
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Boating community sinks Virginia boat tax
Efforts by the Prince William County, Virginia Board of Supervisors to reinstate a 20-year-old boat tax were dead in the water when more than 100 boat owners and business people voiced opposition at a public hearing Tuesday night.
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NewsNew rules in Seychelles allows foreigners to own superyachts
The Seychelles government has introduced new policies related to foreign yacht ownership and operation. Under the new rules, according to a Seychelles News Agency report, a foreigner is able to own a yacht if it is over 24m (79ft) in length and valued in excess of $2m.
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NewsCRN M/Y 137 achieves IMO Tier III certification
CRN, a Ferretti Group brand, has become the first shipyard in Italy to receive IMO Tier III certification for its CRN M/Y 137, a 62m fully custom steel and aluminium megayacht that is soon to be de
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NewsEU revises financial status of key yachting markets
In financial deliberations of the past few days, the EU has revised the status of two key yachting countries in terms of financial listings. The two states involved are the Cayman Islands and the Marshall Islands, both of which are leading flag registration countries for superyachts. In respect of the ...
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NewsEU warns Malta over incorrect VAT on yacht leases
The European Commission has sent an additional letter of formal notice to Malta whose authorities it accuses of not levying the correct amount of the value-added tax (VAT) on the lease of yachts. Brussels claims that Valetta failed to properly modify its tax system in response to earlier requests by ...
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NewsCase against Tectrax struck out in High Court
Sealegs International and its parent, Future Mobility Systems, have withdrawn their High Court claim against fellow New Zealand-based company Tectrax for alleged infringement of copyright in the unique arrangement of features in the Sealegs amphibious system.
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NewsM/Y Luna free to leave Dubai?
The UAE-based English language newspaper Gulf News has reported that the $450m megayacht Luna, part of London’s largest divorce case, may finally be allowed to set sail from a Dubai port. The Gulf News article states: “The 115m (380ft) M/Y Luna has been holed up in Dubai while lawyers for ...
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