According to the latest figures,[1] around half of the world’s fleet of superyachts is registered in the Cayman Islands. Roughly 50 per cent of those are owned by Cayman Islands-incorporated companies. With these figures representing just one jurisdiction, it is clear that a significant proportion of the seafaring vessels invested in and enjoyed by private individuals and their families are held within corporate structures.

There are good reasons for establishing a company to acquire, own and manage a yacht. Some may be tempted to think of a yacht as simply a vehicle, and investing in one equivalent to buying a (very expensive) classic car. However, the similarities in practical terms virtually begin and end with ‘propulsion’. Although an individual is quite likely to buy and operate a car directly themselves, this is rarely the optimum solution for a superyacht, which, in many ways, is a floating business.