Yacht Management

Yacht management is a length and time-consuming affair. The preparing of a yacht, maintaining it and getting all its paperwork in place is a difficult task and we at Monaco Yachting Agency acknowledge that. Therefore, we take pride in providing our esteemed clients complete assistance throughout the superyacht management process. We will be present at every step of the way with our elite yacht management services, to aid our valuable clients, right from the start till the finish of the process. We do not believe in only selling or chartering our yachts, our job is not complete there, we want to be involved in benefitting our customers in whichever way we can.

Private yacht management starts from paperwork management that we are experienced in getting completed efficiently and also with minimum burden on our clients. It starts from the necessary step of yacht insurance which includes the entire provision and paperwork of yacht insurance and coordination with the insurance company. We will work through the entire process so our clients can get their yachts safely and properly insured and can sail it with peace of mind. Moving forward, we are also prepared to assist in the process of changing the flag from the manufacturer’s to the choice of the client and also registering the yacht in the name of the client.

We will also completely inform and provide a detail financial report on the cost of yacht maintenance and also superyacht refit, if and whenever required. We are also prepared to help in opening of an account for the yacht and its respected owner (s) in the Principality of Monaco. And if the client owns more than one yacht, then we will assist in the management of every individual account of every single yacht. Lastly, owning a yacht includes a lot of different services and we will be present to bring the best service provider for the owner to choose from. So, the yachting experience is complete and cherished.

• Provision of yacht insurance and dealing with the insurance company in case of an insurable.
• Assistance in changing a flag and registering a yacht.
• The preparation and further analysis of the financial report on the cost of the yacht maintenance.
• Opening an account for the yacht or its owner in Monaco and further management of individual financial accounts for each yacht.
• Search of the best service providers.

Luxury yacht management second process involves searching for the best and appropriate contractor for construction of the custom-made yacht along with acquiring the services from the best yacht service provider. Everything is done in tandem with the client and the captain. The next step involves paying a visit to various shipyards and yacht manufacturers. Choosing the best one, negotiating the price and terms and finally, constructing an agreement with them. Once the contract is completed, then we shall assist in locating the ideal parking space for the yacht. It would involve locating the best pier acquisition company and then finally acquiring a pier in accordance with the terms and conditions of that particular harbor.

The yacht is an expensive item and when a client decides to pay for it, then he should have complete control over every aspect related to it. We strive to give personal control of the entire vessel so the client can keep a check over every detail being followed. If possible, we also try to implement a remote control departure system for the client that will be attached to the yacht parking site.

• Organizing of the yacht service together with the captain.
• Search of the best contractors and service providers.
• Visiting of shipyards, negotiating, drawing up of contracts with shipyards.
• Selection of the place of a yacht parking, assistance in the acquisition of a pier under the terms of concessions of harbours, founding the company for the acquisition of piers.
• Personal local control of the vessel state and of what is happening on the yacht accordingly to a set schedule or approved request of the owner.If possible, the implementation of remote control with the departure to the yacht parking site.

The next process includes yacht crew management. It starts by interviewing and selecting of crew members for every service at every deck of the yacht. The ideal and chosen applicants would then be provided with proper training. The cabin attendants are given more training than others with a special focus on safety and etiquettes as they will be dealing with high-end guests. The process is completed with drawing up of employment contracts and working duties (roasters) of the crew members. It would include their pay scale, bonuses, duty structure and compliance with rules.

• Selection of the crew, private interviews with applicants.
• Training courses of the crew, especially the cabin attendants (including safety and etiquette courses).
• Assistance in drawing up of business contracts and organizing of working relationship with the shipowner (the implementation of penalty and bonus systems, drawing up and control of compliance with the work rules and presence on the vessel).