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Open a Yacht Charter Company in Singapore

Updated on Monday 30th October 2017

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Open-a-yacht-charter-company-in-SingaporeThe financial industry is not the only sector keeping up the pace with the latest developments, as other industries are expanding their activities also. Singapore, for example, is one of the greatest touristic hubs in Asia counting thousands of visitors every year. Many of them rely on rental services during their vacations which has triggered a higher demand for car rental and even yacht chartering services.

Opening a yacht charter business in Singapore has many advantages, as the city state offers some of the most beautiful landscapes in region. Also, everybody knows the famous Singapore Marina Bay. Those interested in setting up a yacht charter business here, can obtain information about the requirements from our Singapore company formation specialists.

What are the steps to create a yacht charter company in Singapore?

The company registration procedure of a yacht charter business in Singapore starts with choosing and incorporating a structure with the Accounting and Corporate Regulatory Authority. However, a previous survey and market report is advisable. Choosing the right vessels to be chartered is another important aspect to verify prior to opening the Singapore company.

Our company formation consultants in Singapore can assist with the registration process of the yacht charter company.

Licenses for yacht charter businesses in Singapore

There are no special licenses related to the activity of the Singapore yacht charter company, other than the business license issued by ACRA. However, the vessels to be chartered must be registered with the Ship Registry. Considering the owner of a yacht must be a foreign citizen with a Singapore residence permit or a company with a registered seat in this country, an employment or residence pass is required.

Also, the crew of the yachts to be chartered must have certain qualifications in order to be able to man the vessels.

It should be noted that the Singapore Ship Register offers certain advantage to those registering vessels in the city-state.

For assistance with the company registration process of a yacht charter business in Singapore, please feel free to contact us. You can also rely on us if you need help in registering a vessel in Singapore.

 

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As a DM Advisory client, you will benefit from the joint expertise of local lawyers and consultants for opening an offshore company in Singapore. 

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