Buying a Yacht in Monaco

Monaco concentrates brokers, central agents, lawyers, surveyors, managers, crew agencies and owners within a few hundred metres of Port Hercule. For a buyer, that density shortens the distance between a brief and the people who can answer questions about a specific yacht.

Using Monaco as an acquisition hub is about access to people and information, not about where the yacht is physically moored. Most yachts a Monaco-based buyer considers are located elsewhere.

A yacht can be bought through advisers in Monaco while it is lying in Antibes, Palma, Genoa, Fort Lauderdale or anywhere else. The transaction is governed by the purchase agreement, the flag and the parties' legal advice, not by the city where the broker sits.

The number of yachts physically for sale in Monaco at any moment is usually small, and it changes. Current verified Monaco-located inventory is shown on the Monaco for-sale page, not in this guide.

These three phrases mean different things and should never be mixed up in a listing or a conversation.

A good search starts with a written brief: use, cruising area, guest numbers, size range, budget including running costs, new or pre-owned, and timeline. The international market is then screened against it, public listings and discreet opportunities alike.

Shortlists are usually narrowed on paper first, using specifications, history, survey records where available and conversations with central agents, before anyone travels.

The seller is normally represented by a central agent who holds the listing mandate. That broker's duty runs to the seller. A buyer who wants advice on value, condition and terms usually appoints their own broker.

Agree in writing how your broker is paid, whom they represent and how conflicts are handled before viewings begin.

Co-brokerage is common: the buyer's broker and the central agent cooperate, and commission is shared under an agreement between them. Splits are negotiated case by case and should not be assumed.

Because many yachts winter or cruise within a few hours of Monaco along the Riviera and the Ligurian coast, a buyer can often view several candidates on a short itinerary. Each viewing still needs owner and central-agent consent, a confirmed slot and, frequently, proof of seriousness.

Occasionally an owner agrees to move a yacht to Monaco for a viewing. That depends on the owner, crew schedule, berth availability, cost and season, and is never automatic. Viewing where the yacht lies is usually simpler.

Private viewings are arranged through the central agent, often requiring a non-disclosure agreement and evidence of the buyer's ability to proceed. Guests on board are limited, photography may be restricted, and the captain or crew normally accompany the visit.

A first viewing tests fit and layout. A second viewing is the place for technical questions, documents and a closer look at condition.

The Monaco Yacht Show brings a large number of yachts and industry professionals to Port Hercule each September. It is useful for seeing many yachts and meeting advisers in a few days.

Not necessarily. The right yacht can come to market at any time of year, and good opportunities rarely wait for a show. The show is valuable if you want to compare several yachts quickly. It is not a reason to delay a purchase that already fits your brief.

Prepare before September: confirm which exhibited yachts are genuinely for sale, request specifications in advance, book appointments through your broker, and leave time for second visits.

Some owners prefer to sell discreetly without a public listing. Access depends on relationships and on the owner's willingness to share information, and it is never guaranteed. Off-market does not mean cheaper, and every off-market yacht still needs the same survey and diligence.

An offer is normally made in writing through the brokers. It states price, currency, proposed location for survey and sea trial, any inclusions, conditions and a target closing timetable. Price is negotiated against condition and comparable listings, not against a standard discount.

Many brokerage sales use the MYBA Memorandum of Agreement as a starting point, amended by the parties' lawyers. It sets out the price, deposit, conditions, inspection rights, acceptance and closing mechanics. Other contract forms are also used, so your lawyer should review whichever is proposed.

The deposit amount and who holds it are set by the purchase agreement. A deposit of around ten percent is often referred to in the market, but it is a convention, not a rule. Funds are normally held by a named escrow agent or a broker's client account and released under the contract terms.

Verify bank details by telephone with known contacts, and never rely on email instructions alone.

A condition survey and, usually, a haul-out are commissioned by the buyer with an independent surveyor. Monaco itself has limited haul-out capacity, so survey work is often done at a nearby shipyard.

The sea trial tests the yacht under way: engines, steering, stabilisers, systems and noise. It is normally arranged with the captain, the surveyor and an engineer, and the purchase agreement says who pays and what happens if defects are found.

Due diligence covers title, encumbrances, registry status, class, VAT and customs position, crew contracts, warranties and any charter commitments. It is led by the buyer's lawyer with input from the surveyor and broker.

Buying through Monaco does not mean a yacht is VAT paid. Monaco applies a VAT system aligned with France's, and a yacht's VAT position depends on its own history, documents and intended use, not on where it is sold.

VAT and customs treatment should be confirmed by a qualified tax adviser for the specific yacht and buyer before signing.

A yacht does not have to be Monaco-flagged to be bought through Monaco or kept there. The flag is chosen for legal, operational, charter and tax reasons, with legal advice.

Registration under the Monaco flag is subject to Monaco's own eligibility rules regarding owners and ownership structures. Whether a given buyer or company qualifies, and whether it suits their plans, should be confirmed with Monaco maritime counsel. This guide does not set out those rules as fact.

Buying a yacht in Monaco does not come with a berth in Monaco. Berths in Port Hercule and Fontvieille are allocated separately, are limited, and are not included in a sale unless a specific, transferable arrangement is documented. Never assume a berth goes with the yacht.

Yachts are often owned through a company, and the structure affects registration, VAT, liability and charter use. It should be set up with legal and tax advice before closing, not after.

At closing the balance is paid, the bill of sale and closing documents are exchanged, the deposit is applied, and the registry is updated. A protocol of delivery and acceptance records the moment ownership and risk pass.

Delivery takes place where the contract specifies, which may or may not be Monaco. Crew, insurance, management and the new registration should be ready on the day of delivery.

After purchase the owner needs a management arrangement, a crew structure, hull and machinery and P&I insurance, and a plan for any refit or maintenance found in survey. Monaco has many providers for each of these, and they should be appointed before delivery.

Owners who base themselves in Monaco often keep the yacht elsewhere on the Riviera or in Italy, depending on berths, season and itinerary. Plan the operational base around the yacht's real use rather than its address.

The Lund Group Yacht Desk works from Monaco across the international market. It helps define the brief, screen public and discreet opportunities, coordinate viewings, and work with your lawyer, surveyor and tax adviser through closing. It does not replace those advisers.