Much has been said in Spain since 2019 about the possibility that the UBO or persons related to the entity owning the yacht could use it, albeit under the same conditions as a third-party client. Recently, in December 2024, our firm has obtained two binding consultations which clarifies the above-mentioned matter and provides legal certainty.
According to the ‘Report on the Market for Recreational Craft, January-November 2024’ prepared by the Spanish Yachting Association (ANEN), of which I am tax and legal advisor the Spanish yachting market has registered a total of 4,883 recreational craft registrations during the period from January to November 2024, representing a drop of 16.4% compared to the same period last year. This decrease particularly affects very small boats under 6 metres, sailboats, folding inflatables and jet skis. The charter yachts registrations have also seen a decline in the same year, with 1,725 registrations, compared to 2,036 in 2023. It follows from the above figures that 64.4% of registrations are for private use, while 35.6% are for charter.
Sailing yachts (-19.5%) are the most affected by the drop in registrations. Despite these decreases, boats over 16 metres continue to be the most positive growth in the market, which is no doubt a good new.
We fully rely that 2025 will be a good year as perspectives and orders seems to indicate such.
Miguel Ángel Serra, founding partner of Legalley+, recently shared a great moment with Benito Núñez Quintanilla, Secretary General of Air and Maritime Transportation at the Ministry of Transport and Sustainable Mobility, and Julio Fuentes Gómez, Deputy Director General of Maritime Regulation at the same ministry. The meeting took place during the Christmas cocktail party organized by his colleagues and correspondents from Albors Galiano Portales at the Hotel Wellington in Madrid. The event once again reflected the collaborative and collegial atmosphere among professionals in the industry.
LegaLLey+ is proud to share the successful execution and finalisation of the sale of a Bombardier Global Express XRS for one of our valued clients to another esteemed entity. Renowned for its exceptional range, performance, and luxurious cabin design, the Global Express XRS stands as a benchmark in the heavy cabin jet market, offering unparalleled comfort and transcontinental capability. This aircraft exemplifies the perfect balance between advanced technology and refined elegance, making it a preferred choice among discerning buyers. The transaction reflects our commitment to delivering seamless solutions in the high-end aviation sector, while underscoring the enduring appeal of this iconic model in today’s competitive market.
At Legalley, we are always excited to participate in new advancements in the aviation and yachting industries, especially in this case when they hold the potential to revolutionize connectivity in the Balearic Islands. That’s why we are proud to share that our founding partner, Miguel Ángel Serra, recently attended a groundbreaking demonstration flight for Island Air Express, a company poised to contribute to improve inter-island transportation in the region and, additionally, make it funnier.
Yesterday I had the honour of participating in the ‘IV International Tourism Forum City of Melilla’, moderated by Luis J. Ayala Navarro Director of the Port Authority of Melilla and accompanied by MIGUEL ARCOS director at Estela Shipping and Bartomeu Bestard Figuerola, President and CEO of Alcudiamar.
The title of the round table was “The recreational nautical sector and its impact on local tourism”.
Without a doubt, MYS is a ‘must’ in the calendar of any professional involved in the world of superyachts. Appointments with clients, attendance at stands of interest (many!), meetings with colleagues from other jurisdictions on shared issues, visits to yachts (whose names are not disclosed for confidentiality reasons), last minute negotiations, contacts with colleagues (those trusted from far and new ones who join us), occasional cocktail parties organised by friends and with friends…
A real madness! But, as we love this world and this industry, a new Monaco Yacht Show is still tremendously exciting after attending 18 previous editions. Indeed, it is a real pleasure.
This is the fantastic airplane we have recently bought brand new for one of our clients: Gulfstram G650ER. It is a modern, exclusive, fast aircraft (it holds the record for the fastest flight in the history of aviation) and with a wingspan of 31 metres. Bill Gates, Elon Musk and Marta Ortega also own this jewel of executive aviation.
It was last November 2023 when we at Legalley began with one of the most exciting projects to date: the acquisition, asset finance and importation for one of our clients of a Gulfstream G650ER, one of the best and most elegants large business jets in the world.
Gulfstream aircraft have long been considered the most prestigious heavy cabins jets in the world. It has been a pleasure to deal with Gulfstream Aerospace Corporation and its very professional Executives, Managers, Designers, Associates and all staff in general at their locations of Savannah and St. Louis, Georgia (USA).
Finally, our fantastic and impressive jet has arrived in Madrid today. Hoping to see it closely in Palma and, if possible, take a short flight!