Having the appropriate documents on board is a must during your cruising journey.
When navigating waters of different countries that have different tax laws , there are a series of documents that are vital for you to have on board your superyacht in case your yacht agency or the tax officers of the country you are docked at require them. At Evolution, we believe in transparency, and for this reason, we want to give you some information about the key documents that you need to have on board.
The COR ( Certificate of Registry ) and the COI ( Certificate of Incorporation ) are definitively two documents that you always need to have on board, this is why:
The COR or Certificate of Registry is a well-known document both by the crew and the companies who belong to the yachting industry . This document has all the data from the vessel on it. From the LOA (Length Overall) to the Country where it has been registered. In most cases, this document doesn’t bring the register number within, and it is in those cases where the COI is of much importance .
The COI or Certificate of Incorporation always carries out the tax number or register number of the company. This tax number acquires special importance when it comes to issuing the invoices for the services provided to the vessel in a correct way. The company name of both COR and COI must match. Sometimes, the company that makes the registration and the owning company of the vessel are different. In such cases, it’s also necessary to have with you a document that links both companies.
These documents are also important for customs formalities of the vessel. From a legal point of view and in order to give more legal validity to a PoA , this document must be issued by a representative of the owning company appearing in the CoI. & CoR .
And why is all of this so important ? you might ask… Well, this is because the Spanish Tax Office requires it. To issue an invoice, you need to have the tax number of the vessel. In the case of a yacht agency trying to send an invoice to the tax office without the register number, this will result in an error. Every vessel navigating European waters needs to have the boat’s register number on board unless the owner is a natural person instead of a company.
To avoid having problems while you are willing to pay your invoices just to leave the port and cruise to your next destination, keep in mind to have a copy of all your important documents on board .
Contact our expert team at hola@evolutionagents.com and get all the information about the documents y ou need to keep on board and choose Evolution as your yacht agent for a smooth and transparent invoicing process.
Evolution Yacht Agents is the leading-edge team of professionals dedicated to providing assured and quality support and services to yachts in Spanish waters.
A full range of superyacht specialized services includes: charter license & legal advice, TPA (Vat exemption), customs & logistics operations, provisions & interior supplies, deck & engineering supplies and crew & VIP services.
