SPV (Special Purpose Vehicle)
A separate legal entity established to own a single yacht, providing limited liability, clean transferability, and the structural framework for charter VAT routing.
Single-yacht SPV is the practitioner-default ownership structure. Common SPV jurisdictions include BVI, Cayman, Jersey, Guernsey, Isle of Man, Malta, Marshall Islands, and Luxembourg. Reasons for the structure: limited liability ringfencing per asset, clean sale execution as a share sale (preserves VAT-paid status, registration history, crew contracts), marine-lender mortgage perfection, charter VAT routing through the EU SPV when relevant, succession transfer through share movement. Burgess, Camper & Nicholsons, Y.CO, Dixcart, IQ-EQ, and Praxis all default-recommend single-yacht SPV.