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.
Superyacht charters on vessels over 30 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.
Thanks to extensive efforts by the Thai Yachting Business Association (TYBA) the Thailand Superyacht Charter License has received Royal Decree, allowing foreign flagged superyachts to apply for a license to operate commercially in Thai waters without paying the 7% VAT on the value of the yacht.
Northern Sun - Narasaki 51 metre - Available for Charter with Ocean Independence
Spacecat - Silvercat 36 metre - Available for Charter with Northrop & Johnson
This license is specifically available for yachts that are 30 meters and above, and it 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.
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.
Thailand Superyacht Charter License applications can be made through the following companies.
Thai Fiscal Representation to pay the VAT and CIT is offered by the following companies.