Once you have decided on your desired yacht or aircraft, let us form your company, perform the required due diligence, including registration and documentation or flagging your yacht. Ashmead & White is your fully integrated one-stop shop from purchase through closing.

USVI Companies / Offshore Companies / Dealerships / Documentation Services

In this area we advise our clients on:

• purchase, registration and sale of vessels, super and mega yachts and aircraft, both private and commercial;
• yacht and aircraft financing including preparation and registration of security documentation;
• aircraft leasing;
• full and "bare boat" yacht charters
  

United States Virgin Islands
As Sale Tax does not apply to the United States Virgin Islands for foreign persons, generous exemptions are available through the use of a tax-free entity: a USVI exempt company. The USVI is the only jurisdiction in the world where a non-U.S. person can establish a tax-free entity under the U.S. flag. USVI exempt companies are often used as holding companies for portfolio investments, for the ownership of aircraft that are registered with the U.S. Federal Aviation Administration, or as captive insurance companies. There are a number of other offshore tax planning structures that can take advantage of USVI exempt companies.

Except in the case of certain captive insurance companies, U.S. and USVI citizens, residents, and companies are prohibited from owning, directly or indirectly, ten percent or more of the stock of a USVI exempt company. With respect to income from all sources except those in the United States or the USVI, an exempt company is entirely free of all U.S. and USVI income taxes. Furthermore, except for a nominal annual franchise fee, an exempt company is free from all local taxes as well. These tax benefits are guaranteed for 20 years by contract with the USVI government. The identity of the owner of a USVI exempt company is not public information but it is subject to disclosure to the Virgin Islands Bureau of Internal Revenue or the IRS upon proper request.

Offshore Companies

Cayman Islands
The Cayman Islands are a British overseas territory located in the western Caribbean Sea, comprising the islands of Grand Cayman, Cayman Brac, and Little Cayman. It is a global offshore financial services centre and one of the leading tourist scuba diving destinations in the world.

The Cayman Islands has its own Shipping and Aircraft Registries as well as comprehensive and up to date merchant shipping legislation.

British Virgin Islands

A group of approximately 40 islands and cays in the Eastern Caribbean make up the British Crown Colony of the British Virgin Islands, the principle islands of which are Tortola and Virgin Gorda, with the capital, judicial and financial centre being Road Town on Tortola.

With a legal system based largely upon British Law, the BVI first entered the International Business Companies world in 1984. Speedy, inexpensive and relatively easy incorporation and statutory maintenance have made this one of the most popular jurisdictions in the world. Moreover, the BVI was upgraded to category one status.

Marshall Islands

The Marshall Islands are located nearly midway between Indonesia and Hawaii, and are the easternmost island group in Micronesia.

One of the world's most modern offshore corporate programs, the Marshall Islands offers limited liability companies in addition to the more traditional international business corporations, partnerships and limited partnerships in a well-administered jurisdiction. Marshall Islands corporations are low-cost, easy to form and administer. If standard Articles of Incorporation are used, a company may be formed in one day.

Please contact  us to discuss how Ashmead & White can assist in your particular case.