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Owning and maintaining a yacht is a serious business and entails cash flows of breathtaking proportions.  Dealing with multiple currencies, frequently changing vendors and an industry that has a unique vocabulary can present challenges that many yacht owners prefer to outsource from their existing corporate infrastructure.

The team at Luxury Yacht Group has years of experience accounting for yacht operations and crew payroll and has the specific skills necessary to manage your yacht. Our financial management service provides a centralized system whereby  all yacht operating expenses and crew payroll are retained together, streamlining the operation. Our yacht owners receive a clear account statement each month which outlines key expenditures during the previous month and forecasts major expenditures for the future.

Crew Payroll - The financial accounting team makes payroll on your behalf with due regard for your statutory liability to taxes.

Petty Cash - Using international banking contacts petty cash can be made available around the world.

Bill Payment - Luxury Yacht Group pays operating expenses globally using a dedicated bank account.

Monthly Reporting - Yacht owners receive a clear condensed monthly summary of expenditure plus a forecast for the next month and year based upon current activities.


Accounting With Payroll

* Establish a dedicated bank account for the yacht
* Captain's petty cash accounting
* Montly reporting of all expenditures
* Monthly and yearly budget forecast
* Monthly credit card accounting
* Includes payroll

Monthly Fee based on Annual Budget
Annual Budget              Monthly Fee

   <$750K                          $ 1,500

    $750K to $1.2 M          $ 2,000

    $1.2M to $2M                $ 3,000

   >$2M                                Quote


Crew Payroll

* Create EIN/FEIN registrations for the yacht owning corporations
* Pay crew monthly by wire transfer or direct deposit
* Comply with appropriate payroll taxes and witholdings
* File appropriate annual reports

Monthly Fee based on Number of Crew
Number of Crew             Monthly Fee

    < 4                                   $200

    5-8                                  $250

    9-12                                $300

    >13                                Quote

Additional $40 for each international wire

For further information please contact Alisha Kornegay at ak@luxyachts.com







Last Updated by Sue Williams at 2:45:08 PM on 7/2/2009
Copyright © 2001-2009 - Luxury Yacht Group LLC. All rights reserved.    Luxury Yacht Group provides sales, charter, management and crew services to luxury yachts and their owners around the world.