BWA Yachting acquires yacht charter fiscal agency
SOS Yachting, a multinational yacht charter fiscal agency, has been acquired by yacht services provider BWA Yachting for an undisclosed sum.
Founded in 2012, the yacht charter fiscal agency SOS Yachting provides fiscal representation services for EU and non-EU yacht-owning companies that charter within European Union territory, as well as operational guidance for commercial yachts. The company has offices in France, Spain, Italy and Croatia, with plans to open a fifth office in Monaco this year, increasing its presence in the Mediterranean region.
SOS Yachting emphasises the importance of local support and works to streamline the fiscal components of yachting for each and every client. They combine this with real-time operational guidance and services, making sure their clients are always tax-compliant and can consistently meet local standards while trading their goods or services.
Frédéric Dormeuil, the new CEO of SOS Yachting, said:
“To be involved in the flourishing sector of yachting is incredibly motivating and what an industry it is; remarkable feats of engineering taking you to the most surreal destinations and, like SOS Yachting, includes many distinctive service providers helping make the overall experience the dream-like allure that it is.
“From its inception, SOS Yachting has understood how to ease the burden of what can be a daunting process and I look forward to evolving the brand’s success and elevating its position in current markets and new ones.”
BWA Yachting is a worldwide yacht agency and yachting services provider, supporting captains, managers and crew with the demands of managing a modern superyacht, including clearance procedures, berthing reservations, bunkering, provisioning, fiscal advice, logistics, and technical assistance. Their global office network stretches throughout the Mediterranean, Northern Europe, the Caribbean and the Americas.
Paschalis Patsiokas, CEO of BWA Yachting, commented:
“I am very pleased that we have acquired such a successful company.
“SOS Yachting fits very well with our strategic objective in making life easier on-board superyachts. They simplify the fiscal representation process for their clients, they do so across different territories and that is exactly what we should all be working towards.”
The aim is for SOS Yachting to retain its autonomy, allowing it to function in tandem with BWA Yachting while continuing to further develop its own services. This strategy will help SOS Yachting build upon its own past, and recognise new opportunities for growth and evolution throughout the entire industry.