Porto montenegro

Knightsbridge Schools International to open Montenegro's first Boarding School

Knightsbridge Schools International situated in Porto Montenegro, Tivat (KSI Montenegro), is a member of a global network of independent schools originating in Knightsbridge, London. KSI is pleased to announce two major new developments for September 2013 when Montenegro will see the establishment of its first  boarding school and the implementation of the International Baccalaureate Middle Years Programme (MYP), building upon the existing Primary Years Programme (PYP).

KSI's boarding school option will be co-educational and open to for students ages 11-15. The concept of boarding schools comes from a long-standing British tradition, one where both students and teachers live and study together in a safe and secure campus environment. Life in a boarding school can offer far more than a standard day school.   The Head of Boarding, Mr Colin Kay, has vast international boarding school experience including King’s College in Madrid and United World College (UWC) of Maastricht, and under his management boarders will receive a consistent first class tutelage.

KSI Montenegro adheres to the British Boarding School Standards, as outlined by the British Ministry of Education, to ensure that high standards are achieved and maintained.  KSI Montenegro continues to welcome learners as day students in both the PYP and MYP classes.

As of September 2013, KSI Montenegro will begin implementing the MYP for students ages 11 to 15, evolving to include the IB Diploma Programme (DP) for student ages 16-19 by September 2015.KSI Montenegro is currently a candidate school for the IB PYP seeking authorization in June 2013. By September 2015, KSI Montenegro will offer an extensive education for children ages 3 – 18.

KSI Montenegro’s boarding school is located in the former Navy Hotel, within Porto Montenegro village, based in Tivat. The school’s wireless campus can accommodate up to 300 students with facilities including a common room, kitchen, infirmary, library, sports facilities, and dining area.

Adding a boarding option to the day school is a great opportunity for children from Montenegro to experience a first-class international education, familiar to many students at some of the most prestigious British boarding schools.

PM hosts 31st Adriatic Fair Nautic Show

Porto Montenegro, the Mediterranean’s leading luxury yacht homeport and marina village, is pleased to announce the 31st Nautic Show, to be held at Porto Montenegro for the second time from 1st – 5th May, 2013. This tribute to the best in nautical, camping and recreational equipment moves to a new location this year, right at the heart of the 245-berth marina. The 2013 fair will host display vessels and those on sale to the general public, as well as jet skis, buoys, pontoons and outboard motors.
This is the only such fair of its kind in Montenegro and Adriatic Fair, the organizers behind this event, are engaging a wide range of local and international exhibitors. Aside from manufacturers and distributors of yachts, sailboats, powerboats, charter agencies, finance companies and insurance companies, there will also be a range of sports, camping and recreation equipment brands in attendance this year. Last year's fair welcomed exhibitors from Montenegro, Serbia, Croatia, Slovenia, Italy, Hungary, Spain, Sweden and Austria.
The show will be accompanied by various parallel programs around Porto Montenegro village such as water sport competitions, regattas, cocktail parties and shopping promotions.
Attendee registration is already open and the venue will operate every day from 10am to 7pm.

Branded hotel residences splash down in the Med

One of the more positive impacts of the 2008 financial crisis on the real estate industry was an increase in the number of hotel-branded property developments emerging in the past five years. This trend is to be distinguished from the parallel, yet not unrelated, move towards lifestyle or fashion brands moving into the hospitality space in an attempt to extend their brand and add emotional value to the typical hotel guest experience.

While the likes of Versace, Armani, Missoni and Ferragamo have all rushed to put their names on the door of a luxury hotel project, the more prestigious hotel brands have also been doing their own bit of brand extension by partnering with property developers to create a new category of ‘branded residences'. By offering greater service standards, investment value and status, the presence of a luxury hotel brand is now thought to add a price premium of around 10% on that of a standard residence, according to some industry experts.

In a period of economic instability and a quest for secure investment options, these hotel brands have plenty to bring to the real estate party, inspiring investor confidence, adding a dash of aspirational value, providing rental management resources and the weight of a global marketing presence.

Typically an owner decides either to decorate the residence to their own tastes but forgoes the right to put the unit back into the rental pool, or the hotel owner provides a number of approved furniture packages for the investor to choose from, ensuring that the unit can then be returned to a rental pool operated by the hotel owner. The advantage here is in off-setting some or all of the annual overheads such as water and electricity bills, condominium charges and so on via income generated from renting the unit while the owner is away.

Throw in the provision of lifestyle necessities such as a concierge, spa, laundry service and restaurant, all on-site, and it is easy to see why this trend is impacting the Eastern Mediterranean now too.  

Three such projects are currently in play, including the Regent Porto Montenegro in the Boka Bay (Montenegro), the Kempinski Adriatic Hotel & Skiper Resort in Istria (Croatia), and the Mandarin Oriental in Bodrum (Turkey).

Developed by Adriatic Marinas d.o.o, the Regent Porto Montenegro Hotel & Residences will be operated by famed luxury hospitality group Regent Hotels & Resorts. Due for completion by summer 2014, this waterfront hotel inspired by Venetian architecture features interior designs by Tino Zervudachi from MHZ in Paris and elegant, nautical chic interior furniture packages.

A total of 34 hotel rooms and 49 residences, including penthouse suites, all benefit from amenities such as a bakery-café, fine dining restaurant, library bar, event facilities, a Regent Spa with four treatment rooms and an indoor-outdoor infinity pool overlooking the marina.

In addition to freehold ownership, flexible rental pool options mean residence owners can decide when and if they return the unit to the hotel rental pool, even choosing to allocate just a particular section of their apartment if they prefer, thanks to an ingenious design scheme in the larger units. Prices are currently in the €7500/sqm price bracket and residence owners have a 30% discount on hotel room rates at all Regent Hotels & Resorts around the world as well as access to the marina's extensive homeowner benefits and events programme.

For more information about the Regent Hotel and Residences email info@portomontenegro.com 

Croatia’s new yacht tax regulations

The nautical industry estimates that there are approximately 10,000 vessels registered with Croatian customs. On 1^st July 2013 Croatia will join the European Union and EU yacht owners based in Croatia will be forced to put their vessels into free circulation. In order to do this, owners must pay the customs duties and VAT as defined by the EU Customs Union – set at a rate of 25% (from 1^st June).

In response to these changes, and considering the high number of yachts in the country, the Croatian government have been forced to incentivise yachts to stay and are currently putting temporarily admitted yachts into free circulation at a reduced tax rate of 5%. However, this rate is due to expire on the 31^st May and requires the yacht to be entered in Croatian registers and placed under the Croatian flag.

This is good news for those who have already paid their customs duty prior to Croatia joining the EU, these vessels will automatically acquire the status of Community goods (EU goods) as of 1^st July. Those vessels that do decide to stay in Croatia face extensive paperwork in order to pass import customs clearance and entry into the Croatian Register. It can take up to twenty days to gather all the necessary documentation required to register one boat.

As the summer season gets closer owners have been left questioning where they should register their vessels, and which flag it is most beneficial to sail under. In making these vital decisions the dominant consideration is cost, with many looking to register their vessel wherever it is cheapest. For some, particularly charters, countries outside of the EU pose attractive benefits in terms of tax and import regulations. Montenegro’s yacht-friendly legislation for example offers particularly favourable import regulations, lower fixed tax rates on purchases and income, as well as tax and duty free fuel.

These cost advantages combined with yacht-friendly legislation suggest the second half of 2013 will likely see an exodus of boats into outside EU waters.

Various March activities

March is a one of the busiest months for Porto Montenegro. This popular Adriatic marina began events with a bright and colorful carnival parade for children. In co-operation with NGO Kids of Tivat, Porto Montenegro organized a mini-carnival on Saturday March 2^nd to celebrate local creativity. Children from pre-school and primary schools around Tivat joined this spectacular parade wearing an assortment of masks whilst enjoying music and games. The young person with the most creative costume received a special award.

International Women’s Day is a global celebration (March 8^th),  and  is a perfect opportunity to enjoy dinner at the restaurant Mitsu, or even join us on a short weekend trip to Ohrid with our Porto crew members. Departure for this event is Thursday, March 7th and will return on Sunday 10th March. Alternatively, enjoy a walk to our sports club and sign up for the squash tournament, scheduled for Tuesday, March 12th.

Peter Jackson’s, the Hobbit will be screened on Wednesday, March 27th at the Porto Montenegro Yacht Club, a favorite spot for many crew members. Screening starts at 8pm and this new movie is an epic fantasy adventure.

Music school students from Tivat will celebrate the end of this month with a concert of music from composers including Wagner and Mozart. The event starts at 7:30pm at the Naval Heritage Collection on March 27^th and admission for this popular event is free.

These musical festivities in Porto Montenegro will not only mark the end of March, but they will open the way for a series of jazz performances in celebration of Jazz Appreciation Month in the warm month of April.

ITALIAN TAX RISES: The flight from Italy

An estimated 20,000 yachts from Italian ports have recently crossed waters to anchor in nearby France, Spain, Malta, Croatia, Greece, and Montenegro. This sizeable migration is the direct result of a new government tax implemented by Italian Prime Minister, Mario Monti, in order to help repair the country’s financial problems.

The government aim to recoup EUR 150 million from this tax ─ primarily from wealthy boat owners. The fee is calculated on a daily basis and ranges from EUR 800 for boats up to 12ft to EUR 25000 for mega yachts. The new policy has had a direct hit on the recruitment sector with a 15% decrease in the number of employed staff in the industry that includes cleaning, repairs and guest services ─ an estimated 9000 jobs.

According to reports, in the second half of 2012 a total of 157,000 yacht berths and 18% of charter visits to Italy cancelled. With a planned rise to 35% tax for yachts in transit during the month of June, this policy has inevitably had a dramatic commercial impact on the country’s Adriatic coastline.

More than a quarter of Italian yacht owners live in the north-east of the country, many of whom now choose to anchor on the other side of the Adriatic thanks to the comparative ease in finding available berths and the competitive prices. Montenegro in particular offers lower mooring rates and fuel costs, thanks to its location outside of the European Union, yet matches that with first-class facilities and services ─all wrapped up in a unique landscape.

It has been widely accepted by the Italian media that these factors place Italy firmly at a disadvantage in the Mediterranean’s highly competitive nautical market. By way of illustration, the 245 berths at Porto Montenegro in the Boka Bay offer a month’s low season berth rental for approximately the same price as the Italian taxes on a 12metre boat for an entire year. For a superyacht of 65metres, the Italian charges would cover two months in a high-season berth for the same boat.

Additionally, the high price of fuel has led many Italians to seek cheaper options outside of their own waters. Yachts from Italy anchoring along the Montenegrin coast can save up to 50% on refuelling in Montenegro, a country that offers duty free fuel to all yachts that do not carry the Montenegrin flag. No such duty free fuel is available in Croatia however.

Sevenstar Yacht Transport in Porto Montenegro

Sevenstar Yacht Transport is a world leader when it comes to the marine transportation of yachts and other vessels. This Dutch company transported three yachts into Porto Montenegro over the weekend – the ‘MCB’ (22.6 m),  ‘No Office’ (21.07m), and ‘Smutje’ (14.33 m), all of which berthed in the marina.

Tivat-based company MRM Maritime is the Montenegrin agent responsible for Sevenstar Yacht Transport. Its services enable yacht owners from all over the world to book boat transportation to any Sevenstar shipping destination.

Sevenstar Yacht Transport owns a fleet of 120 cargo ships, and are recognised as specialists in yacht transportation over long distances. Sevenstar transports to many worldwide destinations including North and South America, Europe, Africa, India and  Australia.

Cargo ships can transport yachts ranging from 10 to 52 meters long with a weight of up to 640 tons per vessel.

Porto Montenegro marina is on a list of European destinations permanently used by Dutch transport companies, making it the third European port of choice for Sevenstar company, after Genoa and Palma de Mallorca.