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post #5 of Old 09-20-2004
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Starting a charter in Greece

If you really want to do this be prepared for alot of hassle and frustration.... ok.
1. You need to start a greek company with you holding 49% and a greek partner holding the other, why? because you need to satisfity the greek tax office that you will not run away owing taxes.
2. You need to register with the local social security systems TEBE and pay in every month you contribution.
3. You need to find a good reputable accountant and have him open your company books, he will also take care of paying your VAT on charters as well as other tax obligations.
4. Once the paper work is done now you can buy your yacht, it must be registered with a greek flag, and then the fun starts. you will need,
a. Hellenic registery inspection certificate,
b. Engine and yacht specfications certificate
c.Radio license, now with GDMSS
d.Life raft certifcate with MOB saftey gear as well
e: Insurance both for yacht and liability to 3million euro

every year all of the above has to be renewed and insoected, by the various authorites here in greece.

Ok so now you have the company, yacht and you are ready to charter... wrong....

every time you charter a charter contract has to filled out in 5 copies filed with the port police, once the charter is over the contract must be filed with the tax authorties no less than 4 weeks after charter has finished..... and so it goes on, if you speak greek then it will help alot as you will need to do alot of the running around your self, if not then trying to do this in ehglish will be difficult and trying as all the papers are written in greek, just siging them is nt enough as you will be asked to read and understand what you are siging..... still want to dothis???

The yacht where as a bavaria 46 may seem like a good yacht, we have 100''s of the damn things over here, and you will immediately get into a price war with other brokers who can under cut you and say they offer the same service, find a yacht that they cannot offer and one that has minimum 4 cabins 3 for guests and one for crew, each guest cabin must have ensuite heads, try and find a yacht where the cockpit is divide into two, one half for guest to sit in safely away from flying sheets and one half where the crew can work the yacht while sailing, a large partical galley is a must with minumu 2 refers, 220v on board is nice, but not esstential..... so you still want to do this.... the market is tough here with tomany greek brokers only too happy to undercut you to keep money going though there company and stay afloat, unless you have a source of clients that the greek brokers do not I strongly suggest to avoid this venture as you will find your self in way above your head and just pouring good money after bad..... doing buisness in greece is and art and takes many years to understand there beaucary and exactly how and who to trust.....
I wish you the best
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