AYA will be advocating investment opportunities in the Adriatic and representing interest of local companies at all major business forums and yachting expositions.
With our industry connections, and direct contact to some of the most influential institutional and individual investors, we are planning to present all advantages of investing in yacht related business in the Adriatic.
Montenegro itself has one of the lowest corporate and capital gains tax rates in Europe (9%), low barriers to entry for new businesses, property rights, and a price-competitive, educated work force. As a full member of the World Bank, IMF, EBRD and WTO, the recent NATO membership has further guaranteed the country’s political and economic stability. The local currency is the EURO, and tax on marine-related and tourist services is capped at 7%. Annual property tax is levied on the ownership/use of property at rates ranging from 0.1% to 5%, while a transfer tax of 3% is levied on the transfer of immovable property.
It is a great all-year-round hub with extraordinary potential, with no tax on crew salaries, no tax on fuel and spare parts in transit, and it has been recently enriched with new shipyard facilities in cooperation with Damen.
With access to Croatian cruising grounds, untouched nature, two National Parks, the UNESCO protected Bay of Kotor, a tradition in ship building, modern transport and energy infrastructure, political and economic stability, unpolluted seas and great shipbuilding culture, all provide the foundations for Montenegro to build its future on and further develop in the European and world markets.
The nearby Croatian shipbuilding industry comprises 5 large, 14 medium and 352 small shipyards producing, maintaining and repairing ships and offshore structures along with scientific and professional support provided by three universities, a hydrodynamic institute and classification society. Though not yachting-orientated shipbuilding, it remains an attractive opportunity for investors and partners, who are increasingly turning to more competitive business areas.
The largest shipyards can be found in the prominent coastal cities of Pula, Rijeka, Split and Trogir. Joining forces with marinas, professional management companies and foreign investors could be a turning point for the Croatian shipbuilding industry which has showed signs of struggle over the last decade. In addition, there are countless opportunities involving local shipyards producing specialized vessels to support yachting infrastructure, such as barges for discharge of black waters, waste disposal and fire-fighting vessels, which can be utilized to further improve the quality of yachting and preserve the sanitation of the water.
Slovenia is home to perhaps the most understated cruising destination, the newest on the mega-yacht cruising radar. This coastal destination, stands somewhat in Croatia’s shadow, though completely unjustified – the ancient cities and stunning composition of destinations such as Piran, Koper, Izola or Portoroz are equally as charming as cities of Istria, in my opinion.
Please contact us for more detailed information on investment opportunities in the yachting related business in the Adriatic.