Why some superyacht sales are signed on the high seas.

Some superyacht sales take place out at sea. When the buyer resides outside the European Union, the parties may choose to deliver the yacht outside territorial waters.

The day of the sale

The yacht puts to sea with the captain, the brokers and sometimes the lawyers. She passes the 12-nautical-mile limit. From there, everything is checked and documented.

• GPS position
• AIS track
• Photographs taken on board
• Captain's declaration

The documents are signed, the funds are released, and the yacht officially changes owner.

Why go that far

Mainly for tax reasons. In France, VAT is 20% of the price. On a 30 million euro yacht, that is up to 6 million.

Be careful: the buyer does not automatically save that sum. If the yacht returns to the EU, VAT may become due. A non-European resident may however, under conditions, cruise temporarily in European waters without paying it immediately: this is the temporary admission regime.