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Superyacht regulations eased

The Fijian Government is set to make changes to the Superyacht Charter Act.

20 July 2022

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After much lobbying, the Fijian Government will make changes to the current Superyacht Charter Act.

Changes will include the reduction in the minimum length requirement of a foreign flagged vessel chartering in Fiji from 24 meters to 18 meters and the charter fee being reduced from USD$55,000 to US$30,000 per week.

The full conditions and regulations of Fiji’s Superyacht Charter Licence are as follows:

    1. Yachts must be over 18 metres and have a minimum weekly gross charter rate of USD30,000.
    2. Yachts must have a valid Maritime and Coastguard Agency (MCA) certification or equivalent internationally recognised commercial survey for the purpose of carrying passengers.
    3. A fee of FJD$3,600 (USD$1,800) will be levied on each yacht for a Short-Term Charter Permit (STCP) that will cover six months and multiple Charters. STCPs can be renewed multiple times for a maximum stay of 18 months.

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    1. The Marine Safety Authority of Fiji (MSAF) will survey the yacht and issue a Coastal Trading Permit (CTP) required for each charter, with a cost of FJD$3,450 (USD$1,725).
    2. A superyacht charter fee of five percent is levied on the stated gross charter fee as disclosed on the charter contract.
    3. Charter contracts must be industry standard, either Mediterranean Yacht Brokers Association (MYBA), American Yacht Charter Association (AYCA) or another legally recognised charter contract.
    4. All applications for the Superyacht Charter Permit must be made through a recognised superyacht agent (Yacht Partners, Yacht Help and Seal Superyachts Fiji).
    5. Applications take 15 working days to process.

Documents required include a registration document, MCA or other commercial survey certificate, MYBA or another Charter Contract and crew list/crew certification.

 

denaraumarina.com

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