Saturday, November 7, 2009

Large Private Yachts, What Are They Exactly?

Have you ever wondered what makes yachts large private yachts? I can give you information on what it is not more than what it actually is. It is not on charter. It is also does not carry passengers for hire. They are not engaged in commerce. Large private yachts are however used solely for the pleasure and recreational purposes of the owner.

Living on an island I have seen some very large private yachts come into port. The vessels are large and beautiful bordering on majestic looking.
The interior of these vessels would rival some of the most well known mansions. They would rival the most luxurious of homes ever seen.

Corporations can own large private yachts. The persons on board can be employees, officers of the company, or they can be shareholders of the company. They could also be members of the immediate family of the owner. The persons on board could also be the owner�s friends.

Owners of large private yachts may have a trust or ownership arrangement. This means that the persons on board are beneficiaries under the trust or beneficial ownership arrangement. They could also be friends or immediate family. They could also be members of the company, stockholders, or other employees.

Others that use large private yachts are groups not included in the previously mentioned groups. They are persons who have been given permission to use the yacht for a certain amount of time, if it�s in private use. The permission to use the yacht must be received directly from the owner.

Large private yachts are impressive to say the least. How they are used will often dictate how they will be classified. We have been discussing what makes large private yachts private. We now know that they are not involved in commerce or trade. They are not used on charters. They are also not involved in commerce. They are private because they are used only for the pleasure and recreational purposes of the owner. All registration and usage information must be checked out before you depart for your destination on a large private yacht.

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