A GOLDEN OPPORTUNITY FOR COMMERCIAL YACHTS OVER 24 METERS

This exemption aims to encourage yacht owners and operators to base their charter businesses in Turkey, reducing operational costs significantly.

 

2. Expansion to Shipyards and Yacht Construction

 

The VAT exemption also covers:

• Shipbuilding and repairs conducted in Turkish shipyards for commercial vessels meeting specific criteria.

• Supplies and equipment used in the construction, outfitting, and maintenance of qualifying commercial yachts.

 

This expansion further enhances Turkey’s competitiveness as a hub for yacht construction and commercial maritime operations.

 

3. Vessels and Marine Vehicles Excluded from the Exemption

 

The following vessels and marine vehicles do not qualify for the VAT exemption:

• Private yachts and vessels not used for commercial purposes.

• Vessels under 24 meters in length.

• Recreational boats, tenders, or any marine vehicles primarily for personal use.

• Yachts or vessels not meeting local or international commercial registration standards.

 

4. Benefits for Commercial Charter Operations

 

Companies with the authorization to operate charter activities in Turkey can leverage this VAT exemption to:

• Significantly reduce the initial acquisition and operational costs of commercial yachts.

• Enhance the attractiveness of Turkey as a charter destination for foreign and local clientele.

• Support the growth of a commercial fleet within Turkey, fostering maritime business development.

 

By combining the VAT exemption with Turkey’s established infrastructure for shipbuilding and maintenance, the country is positioned as a leading destination for yacht owners, operators, and charter businesses looking to optimize costs and maximize efficiency.