New institutional framework for yachts

The Minister of Shipping and Island Policy Mr. Giannis Plakiotakis presented a bill for yachts, during the cabinet meeting.

The bill is part of the Consolidated Government Policy Plan through the threefold “codification-upgrade and modernization” of the institutional framework that governs the operation of the professional yacht industry.

The bill aims to create a coherent-integrated institutional framework: By updating and modernizing the provisions of Law 4256/2014, which regulates the terms and conditions for the professional activity and commercial exploitation of pleasure boats and cruise ships in the country and integration of all the provisions concerning the activity of pleasure boats, as well as the provisions concerning the special corporate forms of ownership, exploitation or management of pleasure boats under the Greek flag.

The new legal framework will concern the private professionals and other bodies of the sector, but also the administration that implements it. In addition, the basic sections that are being developed for the first time solve problems that have arisen from the implementation of the existing framework.

The bill also provides for the acquisition of the right to operate a pleasure boat, over thirty-five meters, regardless of flag, which has been classified as professional under the law of another country.

For this reason, a “Specified Period Chartering Permit”  is established, issued by the competent Port Authority, as the case may be.

The Permit will be granted for a limited period per calendar year.

For its issuance, it is foreseen that it must meet conditions corresponding to those that apply to the professional yachts that are active with the status of registration in the e-Register, while for the first time a special fee is introduced in favor of the State, with the name “Fee for Professional Pleasure Boat according to Other Country Law”.

The bill also provides regulations for the insurance of commercial pleasure boats.