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Body of British tech entrepreneur Lynch retrieved from yacht, daughter missing

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• Interior ministry official confirmed Lynch's death
• Officials say it could take time to recover last body
• Chief prosecutor to hold press conference on Saturday
• Yacht manufacturer blames sinking on crew errors

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Five bodies retrieved from tech tycoon Mike Lynch’s sunken yacht in Sicily

Questions abound about what caused the superyacht to sink so quickly when a nearby sailboat was largely spared.

Divers searching the wreck of a superyacht that sank off Sicily have found the bodies of five passengers and are searching for one more as questions intensify about why the vessel sank so quickly when a nearby sailboat remained largely unscathed.

Rescue crews unloaded three body bags from rescue vessels that pulled into port at Porticello on Wednesday.

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Greek oil tanker on fire and adrift after multiple attacks in red sea, divers search sicily yacht wreck with uk tech boss among the six missing, how did the superyacht carrying tech tycoon mike lynch sink off sicily, one dead, nine rescued off oman’s coast after oil tanker sinks.

Salvatore Cocina, head of the Sicily civil protection agency, said two other bodies had also been found in the wreckage.

The bodies of British tech entrepreneur Mike Lynch and his 18-year-old daughter Hannah were among those found inside one of the vessel’s cabins between two mattresses, The Telegraph reported.

The Bayesian, a 56-metre (184-foot) British-flagged yacht, went down in a storm early on Monday as it was moored about a kilometre (a half-mile) offshore. Civil protection officials said they believed the ship was struck by a tornado over the water, known as a waterspout, and sank quickly.

Fifteen people escaped in a lifeboat and were rescued by a nearby sailboat. One body was recovered on Monday – that of the yacht’s Antigua-born chef, Recaldo Thomas.

Lynch, 59, was one of the United Kingdom’s best-known tech entrepreneurs and had invited friends to join him on the yacht to celebrate his recent acquittal in a fraud trial in the United States.

Besides Lynch and his daughter, the other people unaccounted for after the disaster were Judy and Jonathan Bloomer, a non-executive chair of Morgan Stanley International; and Clifford Chance lawyer Chris Morvillo and his wife, Neda Morvillo.

The yacht remains lying sideways on the seabed a, 50 metres (164 feet) underwater – a depth that required special precautions that complicated the recovery work. Divers are only able to stay in the vessel for 8-10 minutes before having to resurface.

Investigators from the Termini Imerese Public Prosecutor’s Office were acquiring evidence for their criminal investigation, which they opened immediately after the tragedy, even though no formal suspects have been publicly identified.

Questions abound about what caused the superyacht, which was built in 2008 by Italian shipyard Perini Navi, to sink so quickly, when the nearby Sir Robert Baden Powell sailboat was largely spared and managed to rescue the 15 survivors.

Experts want to know about the position of the keel, which on a large sailboat such as the Bayesian might have been retractable, to allow it to enter shallower ports, or if a freak waterspout struck the vessel and simply pushed it onto its side.

“There’s a lot of uncertainty as to whether it had a lifting keel and whether it might have been up,” said Jean-Baptiste Souppez, a fellow of the Royal Institute of Naval Architects and the editor of the Journal of Sailing Technology.

“But if it had, then that would reduce the amount of stability that the vessel had, and therefore made it easier for it to roll over on its side,” he said in an interview.

Yachts such as the Bayesian are also required to have watertight, sub-compartments that are specifically designed to prevent a rapid, catastrophic sinking even when some parts fill with water.

“So for the vessel to sink, especially this fast, you are really looking at taking water on board very quickly, but also in a number of locations along the length of the vessel, which again indicates that it might have been rolled over on its side,” Souppez said.

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Tech billionaire Mike Lynch identified among bodies recovered from Italy superyacht catastrophe

The two missing americans include a new york city attorney and his wife.

Moment luxury yacht sinks off coast of Italy caught on camera, with 6 presumed dead

Grainy CCTV footage shows the moment a storm struck the Bayesian luxury yacht, which sank Aug. 19, 2024, off the coast of Italy. Six people are missing, officials say. (Giornale di Sicilia)

The Italian coast guard on Thursday confirmed that billionaire tech entrepreneur Mike Lynch's body was among the four recovered from the water yesterday after his superyacht sank off the Italian coast on Monday.

The 184-foot British-flagged Bayesian carrying English entrepreneurs, lawyers and tourists capsized and sank off Sicily in bad weather early Monday, when divers rescued 15 people.

The identities of the other three bodies recovered Wednesday have not been disclosed, and one person is still missing Divers also recovered the body of chef Recaldo Thomas on Monday.

Among the rescued was Ayla Ronald, senior associate at Clifford Chance, a global law firm that recently handed a win to Lynch, who was acquitted of fraud accusations in San Francisco in June, according to The Telegraph.

Italian firefighter scuba divers bring ashore, in the green bag, the body of one of the victims from the British-flagged vessel Bayesian, Wednesday, Aug. 21, 2024. The yacht was hit by a violent sudden storm and sank early Monday, while at anchor off the Sicilian village of Porticello near Palermo, in southern Italy. (Salvatore Cavalli)

Ronald's father, Lin Ronald, told the outlet that he texted his daughter after the superyacht sank. 

MOMENT LUXURY YACHT SINKS OFF COAST OF ITALY CAUGHT ON CAMERA, WITH 6 PRESUMED DEAD

Emergency services carry a body bag after a sailboat sank in the early hours of Monday, off the coast of Porticello, near the Sicilian city of Palermo, Italy, August 19, 2024. (REUTERS/Igor Petyx)

"[S]he hasn’t given me any updates about missing personnel or saved personnel. She has only said to me that there are deaths, and she and her partner are alive," Lin Ronald told The Telegraph, adding that his daughter "is a lawyer who is part of the legal team that was invited to go sailing as a result of the success in the recent United States court case."

Among the rescued was Ayla Ronald, senior associate at Clifford Chance, a global law firm that recently handed a win to billionaire tech entrepreneur Mike Lynch, who was acquitted of fraud accusations in San Francisco in June, according to The Telegraph. (Clifford Chance)

Two Americans and four British nationals remain among the missing or unidentified. The two Americans are Christopher Morvillo, a New York City partner at Clifford Chance who helped with Lynch's fraud case, and his wife, Neda Morvillo, a jewelry designer.

"We are in shock and deeply saddened by this tragic incident. Our thoughts are with our Partner, Christopher Morvillo, and his wife Neda who are among the missing, and with their families," a Clifford Chance spokesperson told Fox News Digital. "Our utmost priority is providing support to the family as well as our colleague Ayla Ronald, who together with her partner, thankfully survived the incident. Our thoughts extend to the other passengers and crew and all those affected. We have no further comment at this time. We, and the families, ask that their request for privacy is honored during this period."

MORGAN STANLEY INTERNATIONAL CHAIRMAN, WIFE AND 4 OTHERS STILL MISSING AFTER LUXURY YACHT SINKS OFF SICILY

Neda Morvillo and Chris Morvillo attend Summer Birthday Cocktails For Lawrence Kaplan at Tower 270 - Rooftop on June 21, 2018 in New York City. (Photo by Patrick McMullan/Patrick McMullan via Getty Images)

Morvillo, who owns residences in New York City and South Kent, celebrated Lynch's June 6 acquittal on LinkedIn in one of his final social media posts before the luxury boat accident, eerily writing that his family would live "happily ever after." 

"A huge thank you to my patient and incredible wife, Neda Morvillo, and my two strong, brilliant and beautiful daughters, Sabrino Morvillo and Sophia Morvillo," he wrote after thanking the legal team that helped in Lynch's legal success.

WHO IS MIKE LYNCH, THE BRITISH TECH ENTREPRENEUR MISSING AFTER YACHT SANK?

Emergency and rescue services work near the scene where a sailboat sank in the early hours of Monday off the coast of Porticello, near the Sicilian city of Palermo, Italy, August 19, 2024. (REUTERS/Igor Petyx)

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The boat sank sometime around 5 a.m. Monday near the port of Porticello, where it was anchored, according to the Italian coast guard. There were a total of 10 crew members and 12 passengers aboard the ship at the time.

"The wind was very strong. Bad weather was expected , but not of this magnitude," a coast guard official in Palermo told Reuters.

Fox News' Pilar Arias, Christina Coulter and The Associated Press contributed to this report.

Audrey Conklin is a digital reporter for Fox News Digital and FOX Business. Email tips to [email protected] or on Twitter at @audpants.

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Sicily yacht update as 'two bodies found' and multiple boats head to sinking site

The British software tycoon Mike Lynch and his daughter Hannah are among those who went missing when the Bayesian sank after capsizing off Palermo

• 14:53, 21 AUG 2024
• Updated 15:45, 21 AUG 2024

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Two bodies off Sicily have been found at the site of the sinking of the yacht Bayesian, according to multiple reports. The sinking of the boat has sparked a huge hunt for survivors.

Software tycoon Mike Lynch and his teenage daughter Hannah are among those missing. The yacht capsized in severe storms off the port of Porticello on Monday.

No identities have been revealed at this stage after the reported body discoveries. It comes after divers from the local fire service were seen entering the water with torches attached to their headgear at the site of the shipwreck on Wednesday afternoon.

A police boat and divers were also seen entering the water. The boats spent a short time at the scene before heading back to the nearby port.

A helicopter hovered overhead. Just after 2.30pm today, news also emerged that several boats have left the port of Porticello to go to the site of the sinking.

They left the port at the same time shortly before 3.30pm on Wednesday. Earlier today, a team of four British inspectors from the Marine Accident Investigation Branch (MAIB) arrived in Porticello to look at the site of the sinking.

The MAIB is looking into what happened because the sailing yacht Bayesian was flying a British flag, it is understood. The Italian Coastguard said the MAIB are not involved in the search for the missing people and that it did not request assistance.

Spokesman Vincenzo Zagarola said: “Even if they come (probably) the searches are carried out by the Italian authorities. Initiative (was) not requested by us.”

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Prosecutors open manslaughter investigation into sunken superyacht

TERMINI IMERSE, Italy — Prosecutors said there "could be a question of manslaughter" as they opened an investigation into the deaths of seven people after a superyacht sank while anchored off the Sicilian coast Monday.

Speaking at a press conference, prosecutor Ambrogio Cartosio said the investigation is not currently directed at any individuals, and is looking into “the crime of culpable shipwreck and multiple manslaughter."

"But we are only at an early stage," Cartosio said. "Developments in the investigation could be of any kind, and we are not ruling anything out.”

Twenty-two people were onboard the 184-foot Bayesian when a sudden and violent storm struck before dawn on Monday, Aug. 19. Divers embarked on a challenging rescue operation, r e covering se ven bodies from the wreckage. The vessel was anchored about a half-mile offshore when it sank, leaving divers to search its hull on the seabed 164 feet underwater.

There were 15 survivors, including all but one of the ship's crew.

Cartosio said that the sinking could have been caused by "behaviors that were not in order."

Taking questions from reporters, prosecutors asked about the crew's responsibilities said they were “concentrating on this particular aspect,” adding they wanted to “discover how much they knew and to what extent all the people were warned.”

They said that the passengers who died were probably asleep, and that this is the reason they failed to escape.

Prosecutors also confirmed that the captain of the Bayesian will undergo more questioning. New Zealander James Cutfield has already been questioned for more than two hours, and prosecutors said he had been "extremely cooperative."

The prosecutor said that there was no legal obligation for the captain, crew and passengers to remain in Italy, but expected them to "cooperate fully" in the investigation.

Bad weather was forecast ahead of the sinking, and questions about the weather were also raised by journalists.

“Apart from extreme events which are being verified by the prosecutor, there was a great deal of visibility,” an official said according to a translation by Sky News, NBC's partner network in the U.K.

Based on forecasts from midnight to 4 a.m. on the Monday that the ship sank, he added that “there wasn’t anything to suggest there could be an extreme situation arising."

The  accounts of survivors that have emerged through the Italian medics who treated them  have suggested the sinking took place in mere minutes and came as a shock.

The body of British tech magnate Mike Lynch — regularly described in U.K. media as “Britain’s Bill Gates” — was among those recovered from the wreck. His 18-year-old daughter, Hannah, was the last to be found after the five-day rescue operation.

The others casualties were Lynch’s associates and their partners, including one of the lawyers who had successfully defended him in a blockbuster U.S. fraud trial earlier this summer: Jonathan Bloomer, chairman of Morgan Stanley International and the British insurance firm Hiscox, and his wife, Judy; and a well-known New York City defense attorney, Christopher Morvillo, and his wife, Neda.

The body of Recaldo Thomas, a Canadian Antiguan national who was the ship’s cook, was recovered shortly after the accident.

Prosecutors said that autopsies had not yet been done.

Claudia Rizzo is an Italy based journalist.

Freddie Clayton is a freelance journalist based in London. 

Inside the £30m Bayesian superyacht

The superyacht that sank off the coast of Sicily had won multiple awards for its stylish interiors and design.

Mike Lynch , 59, and his teenage daughter, Hannah, are among the seven passengers and crew feared dead when his yacht, the Bayesian, sank off Porticello near the Sicilian city of Palermo.

Divers are searching the wreckage of the 184ft British-flagged vessel, which rests on the sea bed 160ft below the surface and 1,600ft from shore.

The Bayesian, previously called Salute, was built in 2008 by Perini Navi, an Italian shipyard, alongside yacht designer Ron Holland Design. 

When launched, it had the tallest aluminium mast in the world, at 237ft , earning the accolade of best exterior styling at the World Superyacht Awards in 2009.

Inside, the sleek, minimalist furnishings were created by Remi Tessier. The French design house also designed the 240ft-long Nautilus, owned by Thierry Stern, the president of Patek Philippe, and the 177ft-long Parsifal III, made famous by the television show Below Deck Sailing Yacht.

The Bayesian, which accommodated 12 guests in its master, three double and two twin bedrooms, was furnished with a teak deck and beige sofas set against dark wood furnishings.

Thin brown pillars and miniature terracotta sculptures offered a Japanese influence, while a crescent canvas awning kept guests cool on the top deck.

The superyacht won best interior at the International Superyacht Society Awards in 2008, and was also voted one of the best sailing yachts over 45 metres at the 2009 World Superyacht Awards.

Its original owner was John Groenewoud, a Dutch real estate developer, who was said to have purchased Salute from Eric Albada Jelgersma for a reported €35 million (£30 million) when it was built.

Mr Groenewoud, he founder of Built to Build Real Estate, set out an asking price of $35 million (£27 million) and sold the yacht in 2014, according to Boat International.

The Bayesian is now owned by Revtom, a company that listed Angela Bacares, Mr Lynch’s wife, as its legal owner in April. 

It was given the name because Bayesian was the subject of Mr Lynch’s PhD and the name of the statistical method that helped build his empire.

A former chief stewardess of the yacht has spoken of putting on themed occasions and games for the owner’s two daughters.

Monica Jensen, 48, worked on the 184ft superyacht from November 2018 to October 2020 and told The Telegraph: “I had a fantastic time.”

She said she was surprised to hear of the sinking because the boat had withstood the choppiest of seas, telling The Telegraph: “It seems a bit strange. We have been in bad weather with it, crossed the Atlantic. It’s been all over. These things definitely don’t happen very often.”

Ms Jensen said the crew would have been well drilled on the evacuation process, adding: “You can’t work on a boat without the right certificates, training, and you do drills monthly.”

The vessel, which was operated by Camper & Nicholsons, had twin 965hp MTU engines, giving it a range of 3,600 nautical miles at 13-15 knots.

RSB Rigging carried out rig service works on it in conjunction with Astilleros de Mallorca, a shipyard facility in Palma, in November 2016. The Bayesian returned in September 2020 for scheduled service works, with the mast removed and reinstalled.

Steve Branagh, the managing director of RSB Rigging, told The Telegraph: “At this time, our deepest sympathies go out to the friends and families of all those affected by this dreadful tragedy.”

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Manslaughter probe launched over Bayesian disaster as cops scour CCTV & review decisions of captain & ‘first officer’

• Emily-Jane Heap
• Published : 9:02, 23 Aug 2024
• Updated : 16:08, 23 Aug 2024
• Published : Invalid Date,

ITALIAN authorities are reportedly probing charges of multiple culpable homicide after doomed super-yacht Bayesian capsized off the coast of Sicily.

The Prosecutor's Office of Termini Imerese, led by Ambrogio Cartosio, is working to find out why the luxury vessel sank off the coast of Porticello near Palermo shortly before 5am on Monday.

It is investigating offences of shipwreck and multiple culpable homicide - similar to the charge of manslaughter in the UK - against unknown persons, according to Italian media.

Cops have been scouring videos and photographs taken on the night of the storm by locals, as well as CCTV footage of the port, according to local reports.

Italian outlet Palermo Today said coastguard officials have visited all of the homes and public places with surveillance cameras pointed out to sea in the area.

The Prosecutor’s Office are also reviewing the actions and decisions made by the Bayesian’s Captain James Cutfield, 51, and Matthew Griffith, 22, who is understood to be the first officer, according to local newspaper Palermo Today.

READ MORE ON YACHT TRAGEDY

Bayesian maker says his boats are 'UNSINKABLE' & says crew made 'mistakes'

Divers could RAISE wreck from seabed to find missing teen as search enters day 5

Out of 22 onboard the luxury vessel, 15 survived and six have been confirmed dead so far with one still missing.

Captain Cutfield has already been quizzed by local police for more than two hours this week.

And investigators are also analysing the boat's Automatic Identification System (AIS), essentially its black box, to work out what exactly happened as it sank.

It comes as rescue workers continue to search for the last missing person - Brit teen Hannah Lynch - on board the yacht.

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The Italian Coastguard says it is confident there will be significant progress in the search today.

Asked if any developments are expected, spokesman Vincenzo Zagarola replied: “We trust”.

It comes as...

• Five bodies were recovered from the yacht wreck  including Brit tycoon Mike Lynch
• The CEO of the firm that produced the Bayesian said the boat is  'unsinkable' and pointed to human error
• Mr Lynch's daughter Hannah, 18, presumed missing as search for her continues
• Captain James Cutfield was quizzed for two hours  by cops and remains at the  centre of a probe
• Experts believe the yacht's ' tallest mast in the world ' may have contributed to the disaster after a  freak ‘Black Swan’ weather event struck
• Pictures showed the  tiny raft that saved up to 15 people
• Frantic text messages  from the survivors revealed the chaos

Four bodies were recovered by specialist divers on Wednesday, with a fifth brought into the harbour on Thursday.

The vessel’s chef Recaldo Thomas was found dead in the water soon after the boat capsized on Monday.

The five found on the boat were identified as British tech tycoon Mike Lynch , Morgan Stanley boss Jonathan Bloomer and wife Judy, and Clifford Chance lawyer Christopher Morvillo and his jewellery designer wife Neda.

The body of Mike Lynch’s 18-year-old daughter Hannah, who received her A-Level results last week, is yet to be found by divers.

Eight of the specialist divers searching for the missing student are understood to be using a Nitrox air mix in their tanks - which is made up of more Oxygen and less nitrogen, according to Italian newspaper Rai News.

This reduces the risk of decompression sickness and allows them to dive deeper and for longer periods of time.

Giovanni Costantino, CEO of Italian Sea Group which owns Bayesian-maker Perini Navi shipyard, has  blamed human error for the tragedy .

He told The Sun: "Modern sailing ships, especially high-tech ones like the Perini, are designed to be extremely safe and stable.

“Even in very critical conditions, if procedures are followed, a sailing yacht like the Bayesian will return to an upright position.

"However, if the ship takes on water, this stability is compromised.

“Where the water entered will be determined by the investigators.

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"What is certain is that the ship took on hundreds of thousands of litres of water."

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Yacht Sank in Sicily Due to ‘Endless Chain of Errors,' Ship Maker's Owner Speculates: ‘Everything Was Predictable’

"A series of activities should have been done to avoid finding oneself in that situation," argues Giovanni Costantino, who owns the firm that built the vessel in 2008

• Giovanni Costantino — who is the CEO of The Italian Sea Group, the company that now owns Perini Navi, which built the  Bayesian  in 2008 — blames an "endless chain of errors" for the luxury yacht’s sinking on Monday, Aug. 19
• "Everything was predictable. I have the weather charts in front of me here," Constantino told Italian newspaper  Corriere della Sera  of the storm the boat was caught in
• "An unsinkable ship but from the crew an endless chain of errors," the CEO claimed to the outlet

The sinking of the luxury Bayesian  yacht off the coast of Sicily this week  resulted from an "endless chain of errors" by the crew, the ship maker's CEO is speculating.

"This episode sounds like an unbelievable story, both technically and as a fact," Giovanni Costantino — who leads The Italian Sea Group, the company that now owns Perini Navi, which built the  Bayesian  in 2008 — said,  according to CNN .

While speaking to  Italian newspaper  Corriere della Sera , Costantino said he believes those on board should not have been in their cabins, as he claims they were, when the Bayesian sank in the early hours of Monday, Aug. 19. 

Many details of why the yacht went into the water so quickly remain unclear and it's not yet known what the passengers and crew were doing before tragedy struck.

PERINI NAVI PRESS OFFICE/HANDOUT/EPA-EFE/Shutterstock

The 183-foot British vessel sank around 5 a.m. local time on Monday after a "violent storm" while near Porticello, the Italian coast guard said in a statement that was previously obtained by PEOPLE.

"Everything that has been done reveals a very long sum of errors. The people should not have been in the cabins, the boat should not have been at anchor. And then why didn't the crew know about the incoming disturbance?" Costantino said in his interview, translated from Italian.

"The passengers reported an absurd thing, namely that the storm came unexpected, suddenly. It's not true. Everything was predictable. I have the weather charts in front of me here. Nothing came suddenly ... Ask yourself, why was no fisherman from Porticello out that night? A fisherman reads the weather conditions and a ship doesn't? The disturbance was fully readable in all the weather charts. One could not not know," he argued.

"An unsinkable ship but from the crew an endless chain of errors," the CEO asserted.

The coast guard has said 22 people were aboard the  Bayesian  when it sank — 12 passengers and 10 crew — and that 15 of those were subsequently rescued.

The body of the yacht's chef, Recaldo Thomas, was recovered nearby. 

ALBERTO PIZZOLI/AFP via Getty

Costantino's comments came as it was reported that five bodies had been found in the search for the missing six people as of Wednesday, Aug. 21, a source close to the rescue operations confirmed to PEOPLE. Authorities have said that their work is ongoing. 

An Italian government official, Massimo Mariani, reportedly named one of the dead as British tech tycoon Mike Lynch . The other bodies have not yet been publicly identified by authorities. 

Lynch was celebrating with family and friends on the yacht following his acquittal in a fraud trial in June, PEOPLE previously reported.

Costantino offered his view of how the tragedy could have been avoided: "To begin with, in a weather alert situation it was inappropriate to have, as I read, a party. Not that evening. The hull and deck needed to be secured by closing all doors and hatches, after putting the guests at the ship's meeting point as per emergency procedure. Then start the engines and pull up the anchor or release it automatically, put the bow to the wind and lower the keel.

"The next morning they would have departed with zero damage." 

Jonathan Brady/PA Images via Getty

When discussing whether the crew were at fault, Costantino reiterated to the Italian outlet that he believes "errors were made."

"A series of activities should have been done to avoid finding oneself in that situation," he said. "I as the ship's captain would have moved, but even if for some reason I had to stay there, I would have managed those weather conditions which then, let's face it, weren't so crazy."

Never miss a story — sign up for  PEOPLE's free daily newsletter  to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories.  

Costantino contended that there would have been "a zero risk if the correct maneuvers had been made and if situations that compromised the ship's stability had not occurred," adding to the newspaper that reports that the boat went down in seconds is "nonsense." He believes the yacht would have "went down" after water "started to enter" within "six minutes."

The remaining missing  Bayesian  passengers are Lynch's daughter Hannah as well as Chairman of Morgan Stanley International  Jonathan Bloomer, his wife, Judy , and New York City-based lawyer  Christopher Morvillo and his wife, Neda , sources have said.

Lynch's wife, Angela Bacares, was among those rescued, PEOPLE previously reported.

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NOTABLE FEATURES: ~ Elegant interior decor ~ Formal dining with seating for 10 ~ AV entertainment system ~ Jacuzzi ~ Range of sea toys

This tri-deck yacht is unmistakably elegant and sleek with her flawless blue-black hull. By all measure, she is the quintessential expression of the modern superyacht and the highest evolved form of the shipbuilder’s art. Burness Corlett Three Quays Australia were the naval architects for this luxury yacht.

The main entry on the starboard side of ALASKA OF GEORGE TOWN's main deck opens into an impressive foyer with curved stairways to upper and lower decks. The foyer features silk panelled walls and American walnut timberwork with ebonised black inlay. Flooring is antique Labrador marble with nautilus shell design inlaid in stainless steel and black galaxy granite.

ALASKA OF GEORGE TOWN's main salon is rich in fine American walnut, Labrador granite and beautiful silk panelling. The theme is New York City penthouse. Gold leaf, black stepped cabinets provide storage. A 50” pop-up flat screen plasma monitor, DVD and Marantz stereo system provide entertainment. The contrasting silk wall behind the credenza provides the backdrop for a featured art piece. Overhead, a fielded and a raised panel is an elegant ceiling accent (a distinctive design feature found throughout the yacht). The expansive windows are dressed with beautifully tailored sheer silk Roman blinds, while stepped cornices and fluted walnut mullions highlight the exquisite craftsmanship. A creamy, hand-made, sculptured Tai Ping carpet, made from the finest New Zealand wool, completes the penthouse-inspired main salon.

The formal dining room is forward of the main salon where an oval, American walnut dining table with gold inlay, provides comfortable seating for 10. Matching buffets with inlaid marquetry provide the generous storage, while the continuing design theme is beautifully played in silk panel walls, deep Tai Ping carpet, Roman silk blinds and fluted column mullions. A hand-painted, antiqued gold leaf Chinese screen is a key feature of this elegant and intimate room.

ALASKA OF GEORGE TOWN is a very social yacht and ideal for yacht charters where there will be some entertainment. The flow from indoor to outdoor living and entertaining on the bridge deck is a seamless transition. A luxurious skylounge, elegantly decorated for casual entertaining with plush fabrics, raw silk panelled walls, sheer silk Roman blinds and matching American walnut cabinets featuring herring-bone inlays and ebonised walnut accents. A 42” plasma screen pop-up TV and sunken bar are the finishing touches in this very social space. The sky lounge opens onto a large shaded expanse for outdoor relaxing and dining. Farther aft, the deck is open to the sun.

ALASKA OF GEORGE TOWN Specifications

Notable in the sky lounge is an innovative sunken bar. Lowering the deck behind the bar eliminates the need for tall bar stools, the very height of which would restrict the view through the large windows. Using the comfortable caned club chairs around the bar is not only more view friendly and luxurious, but it is also more social. Everyone in the lounge can now be seated at the same level.

A large, luxurious sundeck incorporates hot tub and lounge forward, with a grilling and food preparation centre under the soaring radar arch midship, an outdoor dining and chaise lounge area are aft. On cool nights, this generous, open deck is ideal for elegant entertaining or quiet, romantic dining under the stars.

Yacht Charter Accommodation

Luxury motor yacht ALASKA OF GEORGE TOWN charters with up to 10 guests in 5 cabins. M/Y ALASKA OF GEORGE TOWN has a uniquely elevated private area located forward on the main deck, with hot tub and lounge area, can only be entered through the owner’s suite. Both inside the stateroom and out, extraordinary privacy and an unobstructed 270º panoramic view can be exclusively enjoyed. The owner’s deck and stateroom is a very private haven, a retreat of deep luxury and exquisite appointments. The suite features a king bed with elaborately carved base. The ample drawer cabinets are of American walnut with inlaid marquetry of fine herringbone and a dado of inlaid gold leaf. Opposite the bed is a pup-up 42” flat screen plasma TV that is discreetly stored in a carved cabinet framed by round walnut columns. Electrically operated dual layered Roman blinds of metallic silk over striped silk, and the Silhouette block out blinds close out light and add an additional measure of privacy. The master bath is done in a striking book-matched marble featuring a hand-painted, Pompeiian fresco frieze dome above the oval hydro therapy spa bath. A gold leaf custom mirror, gold plated vanity sink, faucets and Besselink light fixtures complement the luxurious ensuite. The VIP suite on the lower deck is more spacious than other guest suites and takes advantage of the full beam with a king size bed, comfortable loveseat and dressing table/desk I American walnut with antique Labrador marble tops. The walls are silk panelled. A 42” plasma TV/DVD and audio entertainment system complete this impressive VIP guest suite. The VIP ensuite in cashew marble has a spa/bath and shower with gold vanity sink and faucets. Two guest suites are forward on the lower deck. Both offer luxurious queen size beds and individual entertainment centres. Wardrobe walls are silk-paneled with Zebrano veneer and walnut, with quilted silk inlays that are also used on bed headboard and deckhead. A cabinet and bookcase of American walnut with antiqued mirror glass panelled doors, provide storage. Guest ensuites, with showers, are fashioned of cashew marble throughout.

Charter Amenities and Extras

Tenders & Toys Castoldi jet-tender 18’ Yahama FX Jet-Ski Do-nut Water-Ski Dive Compressor Zodiac 10’ inflatable tender 6hp Audio Visual Equipment and Deck Facilities The satellite TV system is distributed to all guest suites, owners stateroom, guest area, crew mess & captain’s cabin. Spa Pool's: 1 x 6 Seat located on the owner's private foredeck 1 x 4 Seat located on the sundeck forward Communications 2 x ‘Furuno’ 8500 VHF- (GMDSS/DSC) 1 x ‘Furuno’ Felcom-15 Inmarsat C

Charter Yacht Disclaimer

This document is not contractual. The yacht charters and their particulars displayed in the results above are displayed in good faith and whilst believed to be correct are not guaranteed. CharterWorld Limited does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information and/or images displayed. All information is subject to change without notice and is without warrantee. A professional CharterWorld yacht charter consultant will discuss each charter during your charter selection process. Starting prices are shown in a range of currencies for a one-week charter, unless otherwise marked. Exact pricing and other details will be confirmed on the particular charter contract. Just follow the "reserve this yacht charter" link for your chosen yacht charter or contact us and someone from the CharterWorld team will be in touch shortly.

ALASKA OF GEORGE TOWN Enquiry

SWEET ESCAPE | From US$ 115,000/wk

LADY H | From US$ 115,000/wk

AQUILA | From EUR€ 115,000/wk

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Alaska of George Town

• Amenities & Toys

ALASKA OF GEORGE TOWN yacht NOT for charter*

43.9m  /  144' | shipworks brisbane | 2004 / 2015.

Owner & Guests

Cabin Configuration

• Previous Yacht

Special Features:

• Impressive 4,606nm range
• RYA water sports centre
• ABS (American Bureau of Shipping) ✠A1, Yachting Service, ✠AMS classification
• Sleeps 10 overnight
• 5.65m/18'6" Williams Jet Tender

The 43.9m/144' motor yacht 'Alaska of George Town' (ex. Alaska of George Town) was built by Shipworks Brisbane in Australia. Her interior is styled by design house Bernie Cohen Design and she was delivered to her owner in February 2004. This luxury vessel's exterior design is the work of Bernie Cohen Design and she was last refitted in 2015.

Guest Accommodation

Alaska of George Town has been designed to comfortably accommodate up to 10 guests in 5 suites. She is also capable of carrying up to 9 crew onboard to ensure a relaxed luxury yacht experience.

Onboard Comfort & Entertainment

Her features include a gym, deck jacuzzi, WiFi and air conditioning.

Range & Performance

Built with a aluminium hull and aluminium superstructure, she benefits from a semi-displacement hull to provide exceptional seakeeping and impressive speeds. Powered by twin diesel Caterpillar (3412) 12-cylinder 900hp engines running at 2300rpm, she comfortably cruises at 13 knots, reaches a maximum speed of 16 knots with a range of up to 4,606 nautical miles from her 70,000 litre fuel tanks. Her low draft of 2.24m/7'4" makes her primed for accessing shallow areas and cruising close to the shorelines. An advanced stabilisation system on board promises exceptional comfort levels at anchor or on any voyage. Her water tanks store around 12,000 Litres of fresh water. She was built to ABS (American Bureau of Shipping) ✠A1, Yachting Service, ✠AMS classification society rules.

*Charter Alaska of George Town Motor Yacht

Motor yacht Alaska of George Town is currently not believed to be available for private Charter. To view similar yachts for charter , or contact your Yacht Charter Broker for information about renting a luxury charter yacht.

Alaska of George Town Yacht Owner, Captain or marketing company

'Yacht Charter Fleet' is a free information service, if your yacht is available for charter please contact us with details and photos and we will update our records.

Alaska of George Town Photos

This yacht is available for Corporate Yacht Charter and Events

NOTE to U.S. Customs & Border Protection

Specification

M/Y Alaska of George Town

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George Town Yacht Owner Among Elite Billionaire Seafarers: A 2023 Deep Dive

Key takeaways:

• The ownership of luxury yachts continues to be a symbol of wealth among global billionaires.
• George Town yacht owner holds a significant position among these affluent individuals.
• Yachts, apart from being symbols of luxury, are often equipped with cutting-edge technology and bespoke features reflecting the owners’ personal tastes.

Understanding the Billionaire Yacht Landscape

The world of yacht ownership is a pinnacle of luxury. Often reserved for the ultra-wealthy, owning a yacht is a testament to an individual’s financial success and taste for the finer things in life. From the George Town yacht owner to globally recognized billionaires, the allure of owning a private yacht remains unwavering.

The Influence of Wealth and Taste

While vast wealth makes the purchase of such grand vessels possible, the individual taste of the owners is reflected in the design, features, and functionalities of these yachts. From classical to contemporary designs, luxurious amenities, state-of-the-art technology, and personalized details, these floating residences exhibit the distinct persona of their owners.

The George Town Yacht Owner’s Mark in Luxury Yachting

Among these billionaire yacht owners, the George Town yacht owner’s influence cannot be overlooked. Known for their exquisite taste and an eye for detail, they stand as a significant player in the realm of luxury yachting. The level of comfort, sophistication, and technology in their yacht sets a benchmark for luxury sea travel.

The Most Luxurious Yachts and Their Owners

The list of luxury yachts owned by billionaires is impressive. These range from the Musashi owned by Larry Elisson, the Senses owned by Larry Page, the Dragonfly owned by Sergey Brin, to the Symphony owned by Bernard Arnault, among others. Each yacht, uniquely designed and equipped with incredible features, represents the peak of luxury and technology at sea.

The Irresistible Appeal of the Ocean

Owning a yacht goes beyond flaunting wealth; it represents a love for the ocean and the freedom it offers. The ability to explore the world’s waters in absolute luxury is an irresistible prospect for these billionaires. As the global billionaire list expands, so too does the list of opulent yachts.

The Ever-evolving World of Luxury Yachting

The world of luxury yachting continues to evolve, with new yacht designs, sustainable technologies, and bespoke amenities becoming increasingly common. The trend is moving towards eco-friendly designs without compromising on luxury, a trend that the George Town yacht owner and other influential figures are likely to embrace in the future.

Whether it’s the George Town yacht owner or other billionaires, yacht ownership continues to be a defining aspect of their wealth and influence. As they navigate through the high seas in their luxury vessels, they set new standards for what it means to travel in style and luxury. As we move forward, we can expect to see an increasing emphasis on sustainable practices in the creation of these oceanic wonders, merging ultimate luxury with responsibility towards our planet.

Levi Keswick

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Off the Hook Yachts Acquires Georgetown Yacht Basin

Jan 10, 2023

Off the Hook Yachts Acquires 300-Slip Marina in Georgetown Maryland  

The Acquisition 

Off the Hook Yachts is proud to announce the acquisition of Georgetown Yacht Basin (GYB) now rebranding under Georgetown Yacht Haven – a 300-boat slip full-service marina located on the Sassafras River in Georgetown, MD.  Off the Hook plans to restore the yacht basin to its former glory and reconnect with the local community in order to establish it as a household name in the area. 

As our founder is originally from Maryland, this will complement our current presence in the area, along with our MD sales team, which currently operates out of Bay Bridge Marina. The acquisition of the marina will allow us to expand on sales, service, and custom-built Nor-Tech Performance Boat sales in the region. Georgetown Yacht Haven has 300 slips, two paint sheds that can hold up to a 110-foot yacht, a 110-ton travel lift, a fuel dock, a swimming pool, bathhouses, and a complete ship store, along with many other amenities. GYH controls the largest travel lift in Northern Chesapeake Bay.

About Off the Hook Yacht Sales

Off The Hook Yacht Sales NC, LLC, based in Wilmington, North Carolina, was founded in 2012 by Jason Ruegg and has now become the largest marine wholesaler in North America. The company provides wholesale purchasing services for brokerages, new boat dealers, and private individuals, and has become a household name at the largest brokerages and dealerships in the Country. Off the Hook Yachts headquarters is in Wilmington, North Carolina, where it remains today. We have 12 other locations currently in the USA, with expansion plans for 2023. Additionally, OTH is proud to represent Nor-Tech Hi-Performance Boats from Georgia to Maine and Yellowfin Boats from Miami to the Florida Keys.  

About Georgetown Yacht Haven 

Georgetown Yacht Haven was originally constructed in 1949. The marina is situated on 14.26 acres along the Sassafras River.  This river is known for its very deep brackish to freshwater – making it ideal for boating in the Upper Chesapeake area.  Georgetown Yacht Haven is a full-service marina and shipyard with a restaurant and hotel on site.  For more information contact Tristan Price at (410) 648-5112 / [email protected] .

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Where to Register Your Yacht Offshore: the Ultimate Guide

Dateline: Belgrade, Serbia

For the person who has successfully opened an offshore bank account , got a second passport and is living the lifestyle of their dreams traveling the world, the time has come to move on to the next level of flag theory.  This new level is one where the focus shifts from acquisitions that are largely for diversification purposes toward purchases meant purely to improve your lifestyle – like boating.

For many who reach this stage, the next step is to combine travel and leisure by investing in the purchase of a yacht.

Unlike buying a new car – or even a house – buying a yacht is an investment of an international nature, and deciding upon the best country for yacht registration is a decision for which you need professional advice so you do not expose your assets to unnecessary taxes and liabilities. If you go into the process uneducated, your exciting new purchase might just become nothing more than a hole in the water into which you pour unnecessary amounts of money.

As with other international strategies, the country in which you register your yacht can have an enormous effect on the amount of money you will be able to save, as well as your freedom of travel. Some countries keep you from freely traveling to other jurisdictions, others charge high tax percentages or registration fees, and others do none of those things.

Choose Your Flag Wisely

When buying a yacht,  the choice of yacht flags is one of the most important decisions you have to make because it can have a direct effect on your privacy, taxes, and your exposure to liability. Just as you would create a corporate structure to protect your other assets, you should do the same when it comes to yacht registration.

For this reason, many boat owners opt to register their yacht in places like the Cayman Islands to avoid the onerous taxes and regulations of the United States and other western governments. Panama , with its favorable registration policies, is the largest ship registry in the world  with over 9,000 ships flying its flag.

However, it’s also very important to do your due diligence in selecting a country for yacht registration by working with a professional. Once your vessel is registered in a country, all of the country’s laws will apply to your boat. Many countries that have attractive tax structures have other issues that you’ll want to avoid, such as laws that require you to hire a crew completely composed of nationals from that country.

You will also want to register your yacht in a country that is well respected by the US and the EU. If you choose a country with a bad reputation, it can limit where you are allowed to travel, or at the very least, make you subject to more detentions and inspections.

The flag state has the responsibility to enforce regulations over vessels registered under its flag, so yacht registration under countries on the Paris Memorandum of Understanding (Paris MoU) on Port State Control’s black or gray list will come under more scrutiny in inspections. Because of this, a large majority of yachts are flagged in British Overseas Territories, known as the ‘Red Ensign Group’ — including Bermuda, Gibraltar and the Isle of Man.

These countries have acceptable safety regulations for travel in EU countries, while also having more attractive tax structures than the UK. In fact, company tax is set at 0% in the Channel Islands , the Isle of Man, the Cayman Islands, and Bermuda .

This is particularly useful for those who wish to spend time in European Union waters, as vessels owned or used by EU residents are subject to the EU’s Value Added Tax (VAT). Private yacht registration with a non-EU flag allows an owner to operate under a “temporary importation structure” which allows for 18 months free of these taxes or customs duties. After the 18 months are over, the boat owner can re-apply for this status.

Bearing this in mind, let’s take a look at some of my favorite countries for yacht registration.

1.The Cayman Islands

The Cayman Islands Shipping Registry is a favorite among people who own both pleasure and commercial yachts worldwide. This ship registry has been at the Port of George Town, Cayman Islands since 1903. There are two other ports in the Cayman Islands as well: The Creek in Canyon Brac and Bloody Bay in Little Cayman.

The Merchant Shipping Law, which was revised in 2016, is the governing legislation for all boats registered in the Cayman Islands. The law offers many different types of yacht registration, including full registration, interim registration, provisional registration, a ship under construction registration, and demise charter/bareboat registration. An owner who is having a vessel built might find this convenient so he or she can register it as a boat under construction and then change to full yacht registration later.

As I mentioned above, the Cayman Islands is a part of the Red Ensign Group. This means that getting your yacht registration in the Cayman Islands flags your vessels as a British Ship, granting it protection by the British Royal Navy.

Because time is crucial for so many people, the Cayman Islands Ship Registry (CISR) can also expedite the registration process for those who need to be registered immediately if they pay their expedition fee. In addition, the CISR has representative offices in Fort Lauderdale, London, Cannes, Athens, Tokyo, and Singapore where you can have ship registry certificates issued immediately if needed.

Yachts that are registered with the Cayman Islands as pleasure yachts and are not engaged in trade are granted a License to Cruise the water of the United States which will allow them to enter, depart, and cruise within U.S. waters. These vessels will only need to report to U.S. customs when entering the country or changing customs districts.

Assuming you meet all of the required qualifications, there are no restrictions or rules concerning the nationality of the master or the crew of your ship.   In addition to the Cayman Islands being a tax neutral environment, the jurisdiction provides vessel owners with banking facilities and directorship services.

Overall, vessels registered in the Cayman Islands benefit from all the privileges of the British flag, while simultaneously having the tax-free and confidentiality perks of the Cayman Islands.

2. The Netherlands

Many people consider Holland to be an ideal location for yacht registration because the country is flexible and straightforward, whereas most other European countries follow stricter rules and regulations. The registration process is fast compared to that of other countries and requirements are minimal.

To register under the Dutch flag, the process is easiest if you are either an EU citizen, Swiss, Norwegian, or own a company registered in the EU.

One of the main advantages of the Netherlands is that you can be registered under the Dutch flag in as little as three days. That is why Holland is typically preferred over countries like Italy, France, and Spain where there is a longboat registration process in addition to high registration fees. A lot of yacht owners solve this problem by registering under the Dutch flag. Taxes and registration requirements in the Netherlands are minimal, allowing the whole process to be completed in three days, assuming you meet the necessary criteria.

Boat owners do not have to be of Dutch nationality, nor do they have to have a residence in the country. The only documents you must have are an ID card or passport and you must provide proof of ownership of your boat. Because so little documentation is needed, renewing your yacht registration is also a fairly simple process.

The process is easiest, however, for people who are Dutch, Swiss, Norwegian or have a company based in the EU. If you are not Dutch, Swiss, or Norwegian, and if you do not have a company registered in the EU, you can still register by paying a fee to have a United Kingdom Ltd. set up in your name.

The Ltd. will cost you 349 EUR upfront and 249 EUR every year after that. Once the Ltd. is set up, you’ll receive your registration within three to five days. The documentation needed is still the same. It only costs about 299 EUR for yacht registration in Holland if you are an EU citizen. It costs 648 EUR for non-EU citizens and your registration license can be delivered overnight anywhere in the world. Those prices include everything from the taxes to the mandatory Dutch address and all the costs for shipping and consultation.

There is also no requirement to have your boat inspected, making the vessel documentation process even simpler.

 Types of yacht registration under the Dutch flag:

     1.  Light registration

Light yacht registration is for people who want fast and easy registration for navigating EU waters. With light registration, you can only sail European Union waters and the length of your yacht may not exceed 24m.

    2.  Global registration

Global yacht registration is for yachts that will navigate outside of European Union waters, sail worldwide, or be engaged in commercial chartering. People with Global registration can sail worldwide. Global registration is also available to Swiss or Norwegian persons regardless of whether or not they have a company in the EU.

 3. The Marshall Islands

The Marshall Islands ship registry was formed in 1988. In 2001, it was expanded to allow those with commercial and private yachts to register as well, which has made the Marshall Islands a popular place to register over the last sixteen years.

The jurisdiction has also gained a lot of recognition over the years by having regional offices in major maritime cities around the world, allowing them to provide same day service to anyone, regardless of the location or time zone in which they reside.

The Marshall Islands Registry is the third-largest in the world and you can register under a one or three-year program.

You must be a Marshall Islands citizen, national, or qualified foreign maritime entity to register in the Marshall Islands. The terms “citizen” and “national” refer to Marshall Islands corporations, limited liability companies, partnerships, and associations of individuals. (You can easily complete the process to have a Marshall Islands company registered in your name so you can register your ship there.)

Assuming you complete all the necessary documents and meet all requirements, you can have your ship registered within 24 hours; you can also register your yacht as a ‘ship under construction’ if needed. You can obtain a U.S. cruising permit as a boat registered in the Marshall Islands and commercially compliant yachts can charter in Europe. In other words, you are not confined to the waters of the Marshall Islands alone, which is convenient for those who want to see more of the world.

As long as you meet proper flag requirements, yachts measuring 18m or longer that weigh less than 500 gross tons can be chartered out for up to 84 days as a private yacht limited charter (PYLC).

In addition to being white-listed under Paris and Tokyo’s MoUs, the Marshall Islands also meets the flag criteria for a low-risk ship under the Paris New Inspection Regime. Additionally, the Marshall Islands has been a part of the U.S. Coast Guard’s Qualship 21 roster for 11 consecutive years.

The Marshall Islands Registry is low tax and respected worldwide; the country is a presidential republic in free association with the United States and enjoys similar benefits to its British Overseas Territory counterparts making it a great jurisdiction for yacht registration.

Cyprus is the third largest island in the Mediterranean after Sicily and Sardinia. The country’s ship registry ranks 10th in the world with a gross tonnage of over 21 million pounds.

A ship can be registered in Cyprus if more than 50% of the shares of the registering company are owned by a Cypriot or if your company is registered in the Republic of Cyprus. An offshore company can also be registered in Cyprus if the company’s control is in the hands of Cypriots.

The Republic of Cyprus can easily register your company under their flag so you can register your yacht there. The costs of yacht registration and management are the lowest in Europe , making the jurisdiction an ideal, convenient place for many owners to register their ship.

There are many tax benefits that come with yacht registration under the Cyprus flag. An owner whose ship is registered in Cyprus is fully exempt from income taxes from operations in international waters. Additionally, no tax is payable for the wages of the crew that operates in international waters. No tax is payable on any dividend received from a shipping company in Cyprus.

Cyprus has maritime offices around the world, allowing them to work with anyone anywhere at any time. Some of their main offices are located in New York, London, Rotterdam, Piraeus, Brussels, and Hamburg. Upon registering in one of these offices, you will have the benefits of flying an EU flag, which is respected worldwide. According to the  EU registry, “Sailing under EU flags demonstrates strength and represents a strong reputation.”

Like some of the other countries I have mentioned, Cyprus has been white-listed among the Paris and Tokyo MoUs, meaning it is a high-quality flag with low risk compared to many other countries who have been gray or black-listed.

It should also be noted that Cyprus is excluded from the “list of targeted flag states,” which is kept by the U.S. Coast Guard. Cyprus’s absence from the list means that inspections of the yacht with a Cypriot flag are kept to a minimum and they will experience no unnecessary delays when entering and leaving ports.

Types of yacht registration:

Cyprus offers three types of registration, including provisional registration, permanent registration, and parallel (bareboat) registration.

       1. Provisional remains in effect for 6 months; after expiration, it can only be renewed once more for 3 more months.

       2. Permanent Yacht Registration  goes into effect 6 to 9 months from the date your yacht was provisionally registered.

      3. For Parallel / Bareboat Registration  your ship must hoist the Cyprus flag and “Limassol” must be marked as your port of registry. Parallel-in lasts for two years and is renewable. For parallel-out registration, your ship must hoist the foreign flag rather than the Cyprus flag and your port of registry must be the port of the foreign country. Parallel-out lasts for three years and is also renewable.

Liberia is the oldest democracy in Africa and one of the first offshore, zero tax jurisdictions. The Liberian ship registry is a favorite among owners of large vessels; the country has the second-largest registry in the world and makes up 12% of registered ships worldwide.

One of the perks of The Liberian Yacht Registration is that it is open to any ship-owner in the world and there are absolutely no restrictions on the nationality of your crew or country of construction. This makes Liberia appealing to many ship-owners who either cannot register somewhere because of their nationality or can only register by paying an additional fee.

Liberia has been white-listed on the Paris and Tokyo MoUs and has also been approved by the International Maritime Organization AND the U.S. Coast Guard. This, combined with the country’s other features, means that the Liberian Registry is known as “the world’s largest quality registry, renowned for excellence, efficiency, safety and innovative service”.

The following types of vessels can be registered in Liberia:

Vessels under construction, new buildings, vessels being transferred from other flags, offshore vessels, vessels in lay-up, and vessels involved in international, coastal, or domestic trading. You may also have a dual flag if your ship is bareboat registered.

The Liberian Registry is owned and operated by the United States. Additionally, service is available 24 hours a day, 7 days a week, making things very convenient for those wishing to do yacht registration under the Liberian flag. There are over 400 nautical inspectors, so there is always someone available to attend to vessels.

Vessels registered in Liberia are taxed with a fixed fee, which   depends on the tonnage of your ship. The tax is applied yearly, so there should be no surprises. However, t here are no taxes on operations and your profits are not assessed.

The Liberian flag is accepted in many EU countries — the United Kingdom, Germany, and Holland are only a few countries in the European Union that accept the Liberian flag. In addition, Liberia is highly rated for safety and accident prevention, which makes this country even more attractive for your yacht registration.

Liberia is recognized every year for having high standards. The country has an above-average performance in safety and accident prevention as well as in independent statistical reports. Liberia also has a network of 100 security inspectors to inspect ships when necessary; this is something that was implemented post-9/11.

According to information provided by the Liberian Registry website, “The “Maritime Services Award” is for exceptional achievement or contribution to any service sector of the America’s maritime industry by a company, individual, or organization. According to Lloyd’s List criteria for this award, “The winner must be able to demonstrate how they have set themselves apart, going above and beyond best practice to offer the shipping industry something exceptional.”

The Maltese ship registry is the largest in Europe and one of the largest in the world; it is one of the most popular countries in the world for pleasure yacht registration. The country has EU compliant legislation, clear laws relating to yacht mortgages, low registration costs and is well respected across the globe.

Malta became a member of the European Union in 2004, so yacht registration here comes with the perks of sailing an EU flag, including protection by the British Royal Navy. Like the other countries I’ve mentioned, Malta has been white-listed, providing ship-owners with a sense of security when you go through the yacht registration process under the Maltese flag.

If you’re an EU, EEA, or Swiss national, you can hold your vessel in your personal capacity. However, if you’re a non-EU/EEA/Swiss citizen you must hold your yacht through a Maltese or foreign company.

When it comes to taxes, it is important to note that companies operating commercial yachts out of Malta are exempt from income tax on any income generated by the operation of their yachts. They are also exempt from any VAT tax on the high seas. What   sets Malta apart from many other countries besides tax policy is that there are no restrictions on the nationality of the master, officers, or crew of your ship.

Another perk that Malta shares with Liberia is that there is round-the-clock service, so you can feel safe and secure registering in the country. And, as long as you meet all flag requirements, any type of vessel can be registered — that means pleasure yachts, oil rigs, vessels under construction, and anything in between.

W hen it comes to the age or trading, boats between 10 and 15 years must pass inspection by an authorized inspector within one month of provisional registration and ships over 15 years old must pass inspection before being provisionally registered.

7. The British Virgin Islands

The British Virgin Islands is the latest country to join the Red Ensign Group (2014). Now, the British Virgin Islands can register any type of ship and any size. Not only that, yacht registration under the BVI flag grants access to all the ports in the world. There are restrictions with almost all other registries when it comes to this, so the fact that a BVI flag gives you access anywhere sets the country far apart from the rest.

Another advantage that makes the jurisdiction one of the most attractive is that the British Virgin Islands is tax neutral. The islands are outside the scope of the EU value added tax (VAT) laws, meaning that there is no sales tax when purchasing goods or services.

As is the case with the Cayman Islands and Malta, the Red Ensign Group flag grants protection by the British Royal Navy to those vessels registered under the British Virgin Islands flag. Similar to the other countries listed, you can register under the BVI flag even if you are not a citizen and even if you do not own a company there; you will need to register a company in the BVI to do so, but this can be completed in a matter of hours.

When it comes to the registration process, it usually takes two to six months, meaning that it is not as short as some of the other countries, but it’s still not too terribly long.

As I have mentioned in previous articles, the British Virgin Islands has one of the most stable governments and economies in the world, which makes ship owners who register there feel very safe and secure when compared to other countries who have more enemies or corruption within the government.

Panama  is not only a popular place when it comes to offshore banking or getting a second passport, it also holds the largest ship registry in the world, having over 9,000 ships registered under the country’s flag.

Most countries require a minimum amount of weight, but Panama does not. The only exception to this rule is if your ship is older than 20 years, requiring that the ship is inspected in order to be registered.

There is usually some downtime when someone transfers their ship from one flag to another, but that is not the case when you are transferring to Panama. Panama has a very simple transferring process; for example, numerous other countries make you dry dock for inspection and Panama does not. Because their process is so easy, it eliminates the concern that ship and business owners have concerning downtime.

The good news for all the shipping companies, ship owners, and merchant shipping companies is that you can have dual ship registry in Panama, but if you were registered in the other country first, you must have consent from that country to register in Panama, too.

Instead of taking your ship’s size or tonnage into consideration, Panama charges a flat yacht registration fee to keep things simple. If you are not a Panamanian or an owner of a Panamanian business, you’ll pay a flat fee of $1,500 to register your yacht. If you are Panamanian, it costs $1,000 to register your yacht. Once you are registered, you will have access to Panama’s round-the-clock service.

Additionally, once you are assigned provisional yacht registration, you have six months to provide the proper vessel documentation to transfer your provisional yacht registration to permanent registration. Your yacht registration certificate is valid for two years and renewal costs are low.

Many countries require yacht owners to pay taxes when they register their ship, but Panama does not. There are also no taxes on profit that is made through international trade. You do not have to pay taxes on wages for your crew members either. The main reason people choose to register in Panama is this lack of taxes. When registering in Panama, people are legally reducing tax costs and that would not be the case if they were to register in many other jurisdictions.

There is no one best ship registry in the world, but there are many you can choose from to keep your investment safe. Finding the right one for you will depend on what you value when it comes to naval protection, taxes, privacy, and ease of travel.

If you have already registered your vessel, where did you choose to go for your yacht registration and would you recommend it to others? Feel free to comment below.

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A2: a beautifully rebuilt classic Feadship yacht

Some 35 minutes or so into my tour of A2 with Henk Wiekens of Pendennis Shipyard , we have just reached the foredeck and writer’s cramp is a distinct possibility. It is time to get a handle on the situation. "Henk, maybe we are going about this in the wrong way. Can you tell me how much of what I am looking at is left from the original boat?" I ask.

Twenty-three years ago Wiekens, a Dutch engineer, moved to Cornwall to help energise a little shipyard called Pendennis and build a 38 metre sailing boat called Taramber . Wiekens and joint managing director Mike Carr, a naval architect, led the management buyout of the yard in 1993.

"This section of deck is original and the caprail," Wiekens answers, "and the wheelhouse windows and most of the hull…" He trails off, squinting in the bright Palm Beach sunshine, as he turns over the details in his mind. "It was a pretty big job; a rebuild rather than a refit."

Indeed. Expanding the main deck master suite to full beam, a 4.5 metre hull extension, gutting the interior and engine room. New power, new electrical, new management and navigation systems were on the list. Revamping the interior layout for a new owner’s lifestyle meant all the windows in the superstructure had to be repositioned as did all the interior stairways, boarding ladders and tender stowage. Which led to the inevitable question: why?

The short answer is that the owner’s current sailing yacht — rebuilt by Pendennis — is a 1903 schooner. To harmonise with the sailing yacht on those occasions when A2 would serve as a mothership, the owner sought a more classic style.

"He didn’t enter into the idea of having more than one boat lightly and he had very specific ideas about how the motor yacht (his first) would be used and what size it needed to be," Wiekens says. "In 2010 he decided to refit rather than build new. He sent us out to find a suitable candidate, one with sound structure but little to no value in the interior."

Pendennis found Masquerade of Sole in Palma. She had been launched by Feadship in 1983 as Circus II and in 1986 she became the first Limitless , then Masquerade and finally Masquerade of Sole , a six-cabin charter yacht. The owner bought her from the photos and specifications and the yard’s assurance that she held promise and value.

A structural survey assessed the integrity of the yacht, which in turn determined the extent of the work. Concurrently, there were several meetings with the owners, whose plans coalesced around larger outdoor living areas, improved water access and an open interior. With this information, Pendennis and BMT Nigel Gee , the firm tapped for engineering, recommended completely stripping out the yacht including crew quarters, guest areas and the engine room, returning Masquerade of Sole to bare bulkheads, steel hull and aluminium superstructure. In addition to adding length on all three decks, one of the largest structural changes was widening the forward section of the main deck superstructure to full beam, creating more privacy and space in the owner’s suite.

The superyacht interior now includes a much larger main saloon with the addition of a second lounge area, primarily for the owner’s use, on the upper deck. A2’s exterior social areas also benefited from the transom extension with increased alfresco dining space and twin staircases replacing the original single ladder for more convenient access to the new swim platform.

The scope of the project included re-engineering all systems, installation of new deck equipment, modern bridge technology and state-of-the-art AV equipment throughout. The owner’s brief also included increasing both the range and cruising speed of the luxury yacht. New MTU main engines now give A2 a steady cruising speed of 14 knots rather than the original 12 and a maximum of 15.8 knots. Fuel consumption is dramatically improved, increasing her range from 3,500 nautical miles at 12 knots to 4,200 nautical miles at 14 knots.

"The owners liked the profile of a 1980s Feadship, but wanted the conveniences and amenities of a new build," says Wiekens. "One of the things that’s changed in the last 30 years is expectation of headroom. He wanted the new interior optimised for greater headroom throughout."

A2’s interior supports the ‘period’ of the yacht as well as contributing to a space where the owner, family and guests can relax. Conditioned air falls into each room through simple slits in the overheads with returns hidden under skirting boards or furnishings, eliminating distracting grills. Planked dark wood floors already look mellow and simple antiqued bronze light controls are perfect for the concept. Working on a theme of contrasting light and dark, Marino mixed materials as diverse as embossed, painted French leather wall coverings and straw marquetry with oak, limed teak, white satin-finish paint, high-gloss palm and rosewood.

The interior design is about creating a visually exciting journey, according to Marino. It begins when you enter the A2 from the aft main deck aft doors. Immediately you are thrown into light with bleached oak bulkheads and panelled overheads. The clean-lined furniture is positioned in a way that draws your eye forward to the dramatic dining room beyond, in which glossy rosewood forms the backdrop to a striking piece of mixed media art by Anselm Reyle, which sets the tone for the rest of the yacht.

In the now-spacious master suite, Marino chose multiple shades of white and bronze to create the feeling of a retreat and married the wooden and metal borders of the bulkheads with a textured leather wall surface. The furniture on superyacht A2 is a mix of leather and bronze, a key piece being a chest of drawers featuring detailed bronze handles and parchment drawers designed by Parisian sculptor Ingrid Donat. In the en suite, Roman Classico travertine stone adorns the walls, floors and surface tops.

Directly in front of the door to the owner’s suite, a straight run of stairs hugs the starboard side of the superstructure and leads directly to the owner’s lounge aft of the bridge. Dark palm wood joinery and neutral upholstery accent key pieces: an aluminium sculpture by Cesar and a coffee table by Do Ho Suh. A leather desk has pride of place. It is a room that can work as a private saloon for the couple or as a family space. The enlarged aft deck serves as the perfect venue to observe regatta action.

On the lower deck of A2 , one of the four aft guest suites is now a pantry, laundry and dayhead that connects the guest lobby to the lazarette and swim platform. Pullman berths in two of the three cabins bring the number of berths back up to the former count. An additional guest or nanny cabin is forward of the engine room with access via the crew stairs, yet it is separate from the crew mess.

The complete systems upgrade has left the luxury yacht more akin to a newly build, making the ongoing engineering maintenance program much lighter than usual for a vessel of this age. Although the owner has no intention to charter, the yacht remains in class and was brought up to current LY2 standards.

"We are pleased that we were able to make all these modifications and deliver a yacht that meets the owners needs in 18 months, while keeping it under 50 metres and under 500 gross tonnes," says Wiekins.

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