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Charter License

Thailand Superyacht Charter License

 

Thailand is world renowned for its clear waters and beautiful tropical islands and there is a thriving charter market for bareboat and crewed charters in both the Gulf of Thailand and the Andaman Sea region. These vessels must be Thai registered with 7% VAT paid on the full value of the boat.

 

Thanks to extensive efforts by the Thai Yachting Business Association (TYBA) the Thailand Superyacht Charter License has received Royal Decree

Charter License
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Superyacht charters on vessels over 24 metres have however remained a small part of that market as few boats of that size are registered in Thailand due to the high cost of paying the VAT on a yacht worth many millions of dollars.

 

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Yachts that are 24 meters and above will be valid for one year. During this time, the yacht will have the freedom to cruise and charter in Thai waters. There will be a tax of 7% VAT and another 5% Corporate Income Tax or CIT to be paid on the charter fee only.

 

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Thailand Superyacht Charter License applications

Thai Yachting Business Associations

There is still some work to do on revising crew visa regulations and it is anticipated that these changes will be implemented soon. Currently, crew members are only allowed to work in Thai waters for 30 days, with no possibility of extension. The proposal is that the new crew visa will align with the Charter License.

 

To obtain the license, applications must be made to the Ministry of Transport through an appointed Thai Yachting Business Association member agent. There will of course be a fee for this application process and an admin fee charged by the agent for applying on behalf of the yacht.

 

Once the yacht has received their licence they will need to appoint a fiscal representative to pay the VAT and CIT on the charter fee. Once again, this service is available through an appointed Thai Yachting Business Association member agent who will also charge an admin fee.

 

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