Last summer Croatia became a member of the European Union; the move has since triggered a number of changes to the country’s tax and legislation system that have in turn affected the country’s yachting industry. Owners based in Croatia have been forced to put their vessels into free circulation. From its once attractive tax-free status, owners are now paying customs duties and VAT as defined by the EU Customs Union – set at a rate of 25% – 3% higher than neighbouring Italy.
Almost a year-on and further changes in Croatia to tax and legislation are effecting charter operations in the region, while Montenegro continues to offer a competitive outside-EU homeport solution for those looking to base themselves in or cruise the Adriatic.
Porto Montenegro also offers the following benefits to private and commercial vessels: tax and duty free fuel (up to 45% cheaper than other European countries), 7% VAT on marine related services, 9% company and capital appreciation tax plus those with long term berths can benefit from 75% return on sub-lets.
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