buy a yacht in europe

Yachting World

• Digital Edition

Second hand boats: buying a yacht in Europe

• Will Bruton
• October 19, 2022

Buying a yacht in the EU is more complicated than it once was, following Brexit, but there’s now a growing bank of knowledge on how to smooth the process. We get expert advice on some of the key questions.

Double VAT, the Schengen zone, the 180-day rule; the list of considerations when considering buying a yacht in Europe is long and, in some cases, very complex. Crucial to understanding is having a grasp of some of the legal and tax principles that govern making a purchase. The following is not intended to be comprehensive and we advise getting specialist guidance from a tax adviser or similar.

Linda Jacques, partner at LA Law, a firm specialising in marine law and yacht transactions, says the first thing you should consider is where you are going to use the yacht you’re thinking of buying. “Since leaving the EU, it is true that things have got more complicated, but the principal legal questions surrounding ownership and tax haven’t changed that much. A lot revolves around the location of the yacht,” explains Jacques. “First, before you start looking to buy, consider where you are going to flag moor the yacht.”

Jonathan Hadley-Piggin, a partner at Keystone Law, explains that location is also crucial to the transaction. “Making a purchase of a yacht within an EU country isn’t the problem people often see it to be, but you need to be clear if you are paying VAT or if VAT is already paid and provable. Under some circumstances VAT can be avoided by concluding the sale outside EU territorial waters.”

UK Border Force reporting form C1331

The VAT factor

VAT is often the first concern that comes to mind for potential buyers because it can make a 20% difference in price.

As Jacques explains, one of the challenges of Brexit is that you can end up having to pay tax again when you return your yacht to the UK.

“ Buy a yacht in Europe and keep it there and you don’t have a problem, as long as EU VAT has already been paid and can be clearly proven. Yachts within EU waters must be EU VAT paid and have proof unless the owner is able to qualify for customs relief. Customs relief includes Temporary Admission or a VAT exemption for a yacht that is operated commercially. Commercially operated yachts have their own specific requirements and need to prove the nature of their operation is truly commercial.”

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However, if you are purchasing the yacht in Europe and bringing it back to the UK, proof of where the yacht has been in Europe and on what date the transaction concluded is crucial. “If you are the new owner, even if VAT has been paid before, you will be liable for import tax coming into the UK,” Jacques advises. “VAT must be paid again on all EU VAT-paid yachts being brought into the UK. In the UK the UK Border Force form C1331, where you declare the VAT status of the boat, where it has been and at what time, is an important document.”

The non-VAT paid yacht is a more complicated prospect, as Jonathan Hadley-Piggin explains. “We get calls from people thinking that a non-VAT paid yacht can’t be bought, or it’s simply too risky. It can, you just need to understand how to go about it and, if necessary, the new owner might need to pay the VAT to use it in the way they want to.

“It’s also worth considering how, as a new owner, you are proving VAT has been paid. For example, if the boat was initially purchased by a company and VAT was paid, but as a company they claimed the VAT back through their corporate accounts, it might be considered by the authorities that VAT has not been paid. It is this kind of issue that a good marine lawyer and tax adviser can help you understand fully. Quite often the current owner really does think VAT is paid and that their paperwork is correct, when in fact it is not, so it’s important to ask questions around what proof is available early on if you’re serious about buying.”

Michael Ashdown of Harwood Hutton VAT Consultancy regularly advises yacht owners. “You should be looking initially for the original sales invoice, subsequent sales invoices and/or an importation invoice; always asking the question ‘Would this satisfy an inquisitive customs officer further down the line?’

“We are now seeing an increasing number of clients who are choosing to pay EU VAT, knowing that it will ensure their yacht has true free movement within the EU without complexity.”

Paperwork checks in Europe.

Time aboard

While buying a yacht in the EU is possible for a UK citizen, being able to use it is another matter. An extended season of Mediterranean cruising for most is no longer an option, due to the Schengen restrictions meaning no British citizen can spend more than 90 days in the EU in one 180-day period. This means that some buyers looking to cruise for longer are investigating other options to allow them to stay in Europe. Remember that the rules for a yacht are separate to the rules for people.

Dave Birch bought his yacht to take a sabbatical with his wife and daughter, but found himself confronted with the prospect of a shortened season before he’d even completed the sale. “There are options, heavily dependent on your individual circumstances, but to keep cruising we have seriously investigated different ways to spend more time in Europe. Maltese residency can be purchased by investing in private property or business, granting an EU passport and access rights, but it is a serious amount of money that some would think extreme just to be able to keep sailing.

“Other options are so called ‘digital nomad’ visas, allowing those working while living afloat the potential to stay for longer and continue cruising. What is clear is that, at present, there’s no cheap or easy option.”

Many cruisers build time out of the EU Schengen zone into their cruising plans to take maximum advantage of the time allowance. For example, Croatia is not currently part of the zone.

A 2012 Hallberg-Rassy 64 for sale in Italy

Areas of confusion

Alex Grabau has been brokering yachts in Europe throughout Brexit. “There’s still a huge amount of confusion, particularly for UK buyers keen to buy second hand boats located in Europe. A lot remains unclear, even where there are written rules in place.

“Returned Goods Relief (RGR) is the most common area of misunderstanding,” he explains. “RGR is only available to boats where the importer is the same as the original exporter. If a VAT-paid boat is sold outside of the UK, the new owner may be liable to pay VAT if the boat is brought back into the UK.

“This currently also applies to UK owners of VAT-paid boats bought and then kept in the EU while the UK was still part of the EU28, which now would like to come to the UK.

“Even if the boat was originally UK VAT paid, or kept in the UK in a previous ownership, the owner and their boat may not be eligible for RGR and could find themselves with a sizeable VAT liability upon arrival in the UK.”

A 2002 Oyster 56 for sale in the Western Med

Another area of confusion relates to Temporary Admission (TA) which is applicable in both the EU (for non-EU boats) and the UK (for non-UK boats). “Many UK buyers believe they can buy a yacht in Europe then bring it back to the UK temporarily before heading off on their planned adventures. This is not the case, as eligibility for UK TA requires the boat is registered outside of the UK and used by a non-UK resident. There is no grace period offered by HMRC, so even spending a day in the UK may result in a VAT liability.”

Grabau also regularly comes up against misunderstandings about the difference between Europe and the European VAT area. “It can be unclear when a boat is sold in places such as Martinique, Guadeloupe, Saint Martin and the Canary Islands. These are all territories within the EU, but fall outside of the EU’s VAT area. Buying an EU VAT paid boat in these territories may see the VAT paid status lost.

“Care also needs to be taken when boats are in the Channel Islands as they fall outside of the UK’s VAT area.”

The right mark

While VAT issues can ultimately be resolved through writing a cheque, Grabau sees the UK’s introduction of its own build standard (the equivalent to the EU’s Recreational Craft Directive) potentially creating more hurdles.

“Bringing a yacht back to the UK market may soon be more of an issue because a compliance survey may be needed and some yachts may not be considered importable, or too difficult to import to the UK.”

Alasdair Reay is a naval architect and CEO of HPI Verification Services, a business that helps yachts comply with build standard regulations and undertakes compliance surveys. He adds: “Since leaving the EU, the UK has introduced its own CA mark. Most recently-built CE-marked yachts will not need a survey to comply with the CA standard.

“However, the UK government’s position on second-hand yachts is still not clear. If you do need a survey, the cost for a 50ft yacht would likely be £4,000-£10,000. If the build standards and technical data are available to us, it’s a cheaper paper-based exercise, but where it is not a survey can be necessary to formally document the yacht’s construction.”

Photo: agefotostock/Alamy

Buying a yacht in Europe – case study

Tim (who wishes to remain anonymous) found his ideal cruising yacht online, located in Spain. The prospect of buying a yacht in Spain following Brexit immediately posed several questions, particularly considering his cruising plans. “The yacht was UK VAT paid but had been present in the EU on 31 December 2020 and so also had EU VAT status. As VAT status does not survive a change of ownership, we had to make a choice between the ability to bring the boat back to the UK and our initial plan, which was to cruise Europe.

“We decided to maintain UK VAT status. This necessitated a survey and acceptance of the boat in the EU, followed by a Biscay crossing to conclude the sale in the UK, with all the logistical hurdles that that entailed.”

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Buying a boat in Europe

• Isobel Smith

There’s a lot to consider when buying a boat in Europe. We explain how to go about finding a reputable seller and what to expect during the buying process

There are different things to consider with private or commercial sales in order to make sure you’re covering all the necessary points and avoid common pitfalls.

Using a broker

The most important thing you can do when choosing a broker is to ensure that they are a reputable yacht brokering business. You don’t want to fall in love with a boat, only to find out that the broker doesn’t have any of the title paper work, or does not produce an adequate sale contract to govern the sale.

And when it comes to deposits, you want to feel confident about who you’re handing your money over to, as solicitor and founder of YachtingLawyers Hannah Cash explains.

“One of the main issues boat buyers have is that brokers are going to ask you to provide a deposit and if they are not a reputable, well established broker, you will have concerns about how your money is being held and if will it be refunded to you in the event that something goes wrong. Ultimately you want peace of mind and confidence in the broker especially when buying a boat abroad.”

One of the ways to find a reputable broker in Europe is to use is a member of the Mediterranean Yacht Broker Association (MYBA), similar to the British Marine Federation (BMF) in the UK. The organisation exists to guide brokers on ethical and technical standards and produces standard forms and sale contracts for their brokers to use which are in English.

Another thing to do is visit the broker’s website and see how they’re advertising their boats. Are brokers using other well-known international websites such as YBW or Yachting Monthly . Is the broker’s business address and full contact details provided? If you can’t find genuine examples of these then it should ring a few alarm bells.

Going private

There is more risk involved with a private sale, as anybody can sell a boat and you’ve no way of knowing if they’re reputable.

Instead, make sure you take the following guidance on board and if at any point you feel unsure about the sale, contact a specialist such as law firm YachtingLawyers, who specialise in helping people buy boats at home and abroad and will help guide you through the process.

Sales contract

When it comes to the contract, all brokers (especially those who are a member of the MYBA) should use a standard sales contract. The MYBA standard contracts are internationally well known.

In the event that you’re dealing with a smaller brokerage that doesn’t use standard sale contracts, you should still expect to be given a sale contract. This will specify the terms & conditions of the transaction such as sale price, forfeiture and refund of deposit, complete date, place of delivery, what happens if the survey is unsatisfactory etc.

There are standard forms available online but, unless you’re confident in handling the contract yourself, it would be advisable to seek legal advice first.

One important thing to ask for at this stage when purchasing a boat abroad is to have your contract translated into English and for it to be governed by English law in case a dispute arises.

The majority of brokers should be able to provide this service for you but, if not, make sure you get your contract translated before you sign anything.

Having these documents translated into English will also be extremely useful when you come to sell the boat later down the line.

TOP TIP: Make sure anything you sign is in English

Within the contract it’s important for the person selling the boat to state that they are the legal owner and they have the right to sell it. You’ll also want to see title documentation and evidence that the person selling the boat, does in fact own it.

Examples of title documents include bills of sale, previous sale contract, a builder’s certificate, insurance certificates and registration certificate. If you’re using a broker, then they should hold all this information.

Make sure the owner declares in the contract that they are the legal and beneficial owner, and have the right to sell the boat, which is free from any debts and encumbrances of any kind. This will help to establish yourself as a bona fide purchaser and will protect you if it turns out a bank or a third party owns the boat for example.

Hannah Cash says: “Ultimately buying a boat should be a pleasurable, experience and you should be excited about your intended purchase. The moment it becomes stressful and you feel unsure about the purchase, that is the time to proceed with caution and seek legal advice.“

If you’re buying a second-hand boat, make sure that VAT (also referred to as IVA in Europe) is accounted for. Ideally you want to see proof of VAT by way of original receipted invoice from the manufacturer or first owner.

If the seller is unable to prove VAT, then you may want to consider whether you wish to proceed with the sale.

If the vessel is not VAT paid, you may want to consider paying the VAT on the boat post sale, however seek advice on this before doing so as the rules are different depending on where in Europe the vessel is being purchased.

Making an application to pay the VAT in the UK can be straight forward, but in Europe the law is VAT is may be payable in the first port of entry, so seek advice if this is something you are thinking about doing.

Please note that this article does not constitute legal advice

• 1. Introduction
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Buying a Yacht in Europe: Tax and Legal Considerations

We are often asked about applicable taxes in Europe for boat owners because there is a lot of confusion surrounding VAT Tax. While buying a yacht outside the US has benefits for some, it also has lots of complexities and nuances that you are probably less familiar with. So, if you are planning to buy a boat in Europe, make sure you understand the tax implications, especially if you plan to cruise in Europe for an extended period of time. Here we share information that will offer you guidance on the right questions to ask. Always employ a tax professional, legal counsel, and other assistance to ensure you are getting the correct guidance for your specific situation.

vat tax on a yacht in the european union

• All EU residents who own a boat and use the boat within the EU are required to pay a 20 % Value Added Tax (VAT), which will hike up the sales price considerably. It’s important not to underestimate the complexity of VAT on vessels, especially for higher value yachts. As a matter of course when you check into an EU country or when you sell the boat, you will be required to provide evidence of VAT paid much like a Federal Duty paid certificate in the US.
• For non-EU residents, the laws state that they are permitted to use privately owned yachts in the Mediterranean under “Temporary Admission” for up to 18 months without being liable to pay VAT. So if you want to cruise in the Mediterranean for a few months after taking possession, you can temporarily import the boat for up to 18 months.
• If you are planning to transfer residence to the EU and it coincides with the permanent importation of the boat, you may be eligible for VAT relief.
• After extended cruising outside the EU, a VAT paid boat exported from the EU may also qualify for relief on its return if it’s returned to the EU within three years of export. It must be imported by the person who exported it from the EU and cannot have significant upgrades that will increase its value substantially.
• Boats that are kept outside the EU for more than three years may be required to pay VAT again so be careful about keeping good records.
• A VAT paid boat could lose its VAT paid status if it’s sold outside the EU and VAT must then be paid if the boat is brought back into the EU, even if the buyer and seller are EU residents.
• A European Union (EU) resident who buys a new boat or a used boat for personal use that did not have VAT paid will be responsible to pay the VAT rate applicable at the place of delivery as well as transfer tax or import duties. However, if the boat is acquired for commercial purposes or leased, the rules apply differently.
• An off-shore registered yacht owned for commercial purposes in the Mediterranean is exempt from VAT, if the boat was imported into the Med per the applicable regulations.

It's All About Location

The location of the yacht, the residence of the buyer, and where the yacht will be operated as a business. Each aspect impacts not only taxes and duties at time of purchase, but also taxes related to collecting revenue. Some examples will help you better understand just how intricately entwined the location of the yacht, buyer, and business are:

• Non-EU residents are permitted to use privately owned yachts in the Mediterranean under “Temporary Admission” for up to 18 months without being liable to pay VAT.

As you can see, to determine the appropriate legal and tax implications and rules you need to follow in your situation, it is vital to do deep due diligence to analyze the operational tax and flagging issues, cruising waters, nationality and residence of the vessel’s users, and any planned chartering operation.

*The information above is for general purposes only and should not be relied upon as a legal or tax advice.

Wanda Anglin

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Yachts for Sale: Why You Should Consider Buying a Bank-Owned Yacht in Europe

By Emilie Barland | Posted On Oct 25, 2017 Updated On Feb 25, 2019

Buying a yacht early in life or for retirement can become a fulfilling experience, though it can cost you a lot in today’s times. The prices of yachts have gone up here in the U.S. as a recovery from the economic downturn almost a decade ago.

Since those days, something else happened overseas. The Euro began losing value in comparison to the U.S. dollar, resulting in many prices going down in Europe.

Many yachts overseas have gone down in value as well. It’s something many here in U.S. don’t know about, and it could help you find a yacht of your dreams at an incredibly low price.

Here’s a look at what this means, and other things to think about when buying a yacht across the pond.

Which Country Has the Best Yacht Prices?

Here at United Yacht, we’ve noted that Italy has become of the top places to buy yachts due to their declining economy. Since many people there have had to give up their assets as a result of financial misfortune, you can find more bank-owned yachts there than ever.

Buying a bank-owned yacht has perhaps been off your radar based on the thought you’ll find lesser quality. In truth, you can find quite a few luxury yachts in Italy owned by the banks. It helps that we’ve connected with a major bank liquidator in Italy called Markagain.

If you want to buy a bank-owned yacht in Italy, we can link you up with Markagain to make this happen without international complications.

Yet, what about buying from other European countries? You’ll want to think about a few things if you’re planning to bring your yacht to America or keep it where it is.

Are You Planning to Use Your Yacht Mainly in Europe?

A major advantage to buying a bank-owned yacht in Europe is that you’ll save even more on retrofitting. Since you’ll be using the yacht overseas, you won’t have to worry about adding things to help it get safely across the Atlantic.

This doesn’t include the charts and guides for going across the ocean, something potentially costing thousands more.

It’s not to say you may not need some additional fit-outs to make your yacht compatible for your needs along Europe’s coastline. The great thing about buying a bank-owned yacht there is you’re free to customize as you see fit.

Adhering to Electrical Appliances

You’ll find it beneficial buying and keeping your bank-owned yacht in Europe for more than just basic retrofitting. Bringing a yacht from Europe to America means changing electrical appliances and other power systems to the proper voltage.

Here in America, you need all appliances on board to run at either 120 volts or 240 volts with a 60 Hz. frequency. In Europe, it’s only 230 volts and 50 Hz.

The advantage to using higher frequency in Europe is it takes thinner gauge wire, making any retrofitting a lot easier and less expensive.

Value Added Tax

Buying bank-owned yachts means the owner usually paid the value added tax for legal EU cruising. Nevertheless, it’s best to work with the liquidator to assure VAT documentation. Otherwise, it could cause some ambiguity on whether the VAT was actually paid, perhaps causing legal issues on legally cruising the European coastlines.

Working with us and the liquidators on bank-owned yachts, we assure this documentation so you’re not left hanging. Keep in mind if you do pay any value added tax, it’s usually absorbed into the yacht’s equity.

Finding a Good Service to Search Overseas

At United Yacht, you’re guaranteed a superior search page that allows you to find bank-owned yachts if you’re going for this niche. Based on detailed search criteria, we assure you’ll find exactly what you’re looking for in a short time.

Buying bank-owned yachts does take a few steps, and we’re available to help you through the process using one source.

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Buying a Boat in Europe (8 Answers You Should Know)

You may have noticed that many boats are considerably cheaper in some European countries.

In this article, we will explore if you can save money when buying in Europe and bringing the boat to the U.S.

Let’s get started!

Table of Contents

1. Does it Make Sense to Import a Boat from Europe to the U.S.?

On the surface, buying a boat in Europe seems to be a good idea.

Prices can be significantly lower than in the U.S. for the same boat.  However, price isn’t the only consideration here.

Factors such as taxes, bureaucratic fees, legal fees, broker fees, system conversion costs, and shipping/travel costs all come into play.

Add to that the additional time required to test the boat and bring it back to the states, and any value gained from a low price quickly evaporates.

In the end, your specific circumstances will dictate whether buying a boat in Europe makes sense for you.

If you plan to spend some time traveling by boat in Europe, then buying a boat and selling it at the end of your trip may be a viable option.  I would reserve this tactic for extended trips of six months or longer and be sure to buy a popular model that will hold resale value.

If you consider this option, make sure you understand the Value Added Tax implications and figure that into your calculations.

2. How Much Cheaper Are Boats in Europe?

As with all things, the answer to this question can be complicated.

Depending on the boat, you can save up to 38% or more when purchasing in Europe.

However, some models can be more expensive than in the U.S.

For more information, see our article Reasons Boats Are Cheaper In Europe (Explained!)

3. What Types of Boats are Cheaper in Europe?

The most savings seem to be in models of sailboats, particularly in Greece and Croatia.

Other types of boats such as cabin cruisers and yachts tend to have the same price or even higher prices than in the U.S.

4. How Do You Import a Boat From Europe to the United States?

Many steps go into importing a boat or any large object from Europe to the United States.

This is a lengthy, expensive, and complicated process, so make sure you are fully prepared to take it on.

Here are a few things you’ll need to do or know before importing:

Hire a Broker that Serves the Country of Purchase:

A reputable and experienced broker is worth their weight in gold.

Not only can they help you navigate the European market, but they will also have connections in local governments and customs houses.

Use the MYBA website to find a reputable broker (see references below).

Hire an Import/Export Lawyer:

The legal environment surrounding international purchases of titled property such as a sailboat is complicated.

Having someone on your side who is familiar with the law on both sides will help protect you from fraud and ensure that all paperwork and legal requirements are met.

Have the Boat Inspected by a Reputable Company:

A broker should be able to help here.

All inspections should get a detailed analysis of the boat and its history.

If you can’t get an inspection, consider looking elsewhere.

Identify Any EPA Compliance Issues:

When you come to the U.S., you must provide proof that the boat meets EPA standards.

It is best to keep this in mind early in the process.

Identify Systems That Will Need to be Converted:

This is often one of the largest expenses involved in bringing a boat to the U.S.  Europe uses 230V(+/-10%) 50Hz electrical power while the U.S. uses 120V 60Hz.

To operate your electrical systems in the U.S., you may need to completely rewire your boat and replace all electrical equipment and outlets.  This can cost tens of thousands of dollars.

Another common problem is the LPG containers and connectors.

Add to this that every bolt and fitting is metric and that replacement parts(particularly for the engine) may be impossible to find, and the allure of buying in Europe dwindles.

Keep in mind that a boat with odd fittings and hard-to-find parts will not be as marketable on resale.

If Possible, Inspect the Boat in Person:

Buying anything sight unseen is never recommended.

You will want to plan to be in the country of purchase for several months to complete the process.

This will give you time to have everything in order, inspect the boat, and perform sea trials.

Value Added Tax(VAT).

If you plan to tour in conjunction with your boat purchase, you may end up running into issues with VAT.

Many used vessels have a VAT paid status; however, some do not.

If purchasing a new boat and having it flagged in the U.S., you will have 18 months in the EU before the VAT must be paid.

If the boat is already flagged in an EU country, you will need to prove VAT-paid status at most ports.

The current average VAT rate in Europe is 21%.

Final Checks:

Make sure to contact the local customs officials in the country of purchase to ensure you have everything in order before leaving with the boat.

It is also a good idea to know requirements at stops along the way if you plan to cross the Atlantic on your own.

Here is a list of things to keep in mind:

• Ensure all paperwork is in order and properly translated.
• The industry standard for contracts is the MYBA sales contract.  It is best to work with sellers that have no problem using this contract.
• Use Consulate recommended translation service.
• Never sign anything that has not been translated properly into English.
• Contact Customs officials on both sides to ensure compliance.
• In the U.S., you will need a bill of sale, an EPA Engine Declaration Form, and 1.5% of the sale price to pay the duty at the port of entry.

5. Before Traveling With Your Boat:

Make final inspections:.

Before buying a boat, it helps to look at every aspect of the vessel to ensure that everything is in perfect condition.

This helps you avoid costly pitfalls.

A marine surveyor can help you identify defects in a new boat.

However, you need to know what to check when making such a huge purchase.

See our article Boat Inspection Checklist: 31 Important Steps (Complete Guide) for more information.

Perform Sea Trials:

After you have the boat in possession, make sure to exercise all of her systems in local waters.

This is particularly important if buying any boat that is still under warranty.  Once you are in the U.S., any warranty issues will difficult to resolve.

You will also need to work out the gallons per hour your boat uses when under engine power.

This calculation will be critical if you plan to cross the Atlantic on your own.

Prepare for Crossing:

If you are inexperienced, it is best to have your boat shipped to the U.S.

If, however, you decide to attempt the crossing on your own, preparation is key.  There are many books and articles available to help you prepare a checklist for crossing.

If you plan to sail across the Atlantic on your own, you can never be too prepared.

Make sure you have planned and practiced for any likely emergency scenarios, and take a few local voyages to make sure nothing is overlooked.

6. Sailing Your Ship or Boat to the U.S.

One way to ensure a safer passage is to cross with a Rally group like the Atlantic Rally for Cruisers (ARC).

The ARC is a “race” with around 200 participants.

Crossing with a rally or group adds the security of knowing other vessels are there in emergencies. When in doubt, you can hire an experienced skipper to help.

If you are shipping your boat, the shipping company will provide instructions and help you with the process.

Shipping can be expensive ($5,000-$15000 or more), so make sure to add this cost into your calculations:

• Pay import tax
• File EPA Compliance paperwork

Convert Necessary Systems

Once you are in the U.S., you will need to convert any necessary systems for them to work properly here.

Make sure to hire a reputable professional to do the work and be prepared for the added expense.

Enjoy Your Boat!

Last but not least, remember to enjoy your time on the water with friends and family.

This is what boating is all about, after all.

It is easy to get caught up in the process and the worries that inevitably come with such an undertaking.

The stress will always be there, don’t forget to have fun along the way!

7. Pitfalls to Avoid when Buying a Boat in Europe:

Make sure to consider these pitfalls:

• Make sure to use a broker from the MYBA list (see references below) as a start.
• As previously stated, make sure to use a translation service recommended by the consulate.
• Plan on having the boat out of the EU in less than 18 months if the VAT is not paid.

8. How Much Does it Cost to take a Boat from Europe to the U.S?

Crossing the Atlantic can take up to 40 days; therefore, you should plan for at least 50 days of food and water.

At an average cost of $11.00 per person per day, plan for $550.00 per person for food.

A water generator is recommended and multiple(wind, solar, or water current) electricity sources.  Don’t forget to add in the cost of any luxury items like wine into your calculations.

When sailing across the Atlantic, it is recommended to have enough fuel for 400-500 Nautical Miles under engine power.

You will need to know the cruising speed of your vessel under power and the gallons of fuel per hour(GPH) underway.  Once you have these calculations, you can predict fuel requirements for your trip.

If we assume 2 GPH and 6 knots per hour, we will need 166 gallons of fuel.

The current price of diesel in Los Palmas, Gran Canaria, is $4.63/gallon.  Therefore fuel alone will cost $772.00.  Fuel storage does become an issue on some boats.

Final Thoughts:

In the end, buying in Europe doesn’t make the most sense.

Any potential savings are inevitably eaten up in endless fees and expenses related to taxes, converting systems, and shipping/sailing to the U.S.

When you add that the inevitable loss in resale value, the hassle and expense outweigh any savings.

As always, have pleasant travels, calm winds, and fair seas. Be safe and watch out for your fellow boaters!

References:

Domestic Regulations for Emissions from Marine Compression-ignition (Diesel) Engines

MYBA Association

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Buying a Boat in Europe | Why, Where & What to Know Guide

For most people, purchasing a boat is a big investment . It is really important to get the best pricing if you wish to count your investment. But you cannot be overzealous, particularly on the international market, when you are looking for a good price. By reading this buying guide, you will be able to know, Why, Where & What to Know when Buying a Boat in Europe.

Boats in Europe tend to be cheaper in terms of the type and location of the boat you are searching for. If you want to move the yacht to the United States, the costs of doing so may probably outweigh any price savings.

Also, you can know,

What are the top 5 reasons why boats are cheaper in Europe?

• Will you save money by buying a boat in Europe, really?

What other costs do you have to expend after buying a boat from Europe?

What to know before buying a boat from europe, watch self cruising the inland waterways of europe | video.

• Top 5 FAQs and Answers related to top yachting destinations

Let’s start.

The top 5 reasons why buying a boat in Europe is less expensive are listed below.

1. More supply than demand

Buying boats in Europe is less expensive since more boats are available (including old ones), lowering the price because there is more supply than demand. Due to their boat and yacht rental sector, Europe has many boats available, mostly used boats. In any company, supply and demand are essential. Price changes (reductions) are mostly driven by demand; if there is demand for a product, there is a business opportunity; otherwise, there is none.

The boating business in Europe is the exact opposite of that (less demand and more supply). The price falls when there is more supply than actual demand in any market. That is the primary reason why boats in Europe are less expensive than in other countries such as the United States and Canada.

2. Upgrades to charter fleets are made regularly

The charter market in Europe is booming, which necessitates fleet updates regularly. When charter companies improve their fleets, the older models are sold on the open market. As a result, supply expands, lowering prices. When you add in lower prices for all things in general and exchange rates, boat prices might be much lower.

3. Locations in Europe

It also varies on where you buy a boat in Europe. Boats in the Mediterranean are substantially less expensive than those in northern Europe. There are several European countries, and boats in Croatia, Turkey, and Greece are sometimes less costly. In comparison to other places, a lot of people buy those places.

If you buy a boat locally, you may also limit the possible costs by inspecting it thoroughly (before paying for a surveyor). In addition, you might be able to shop around for local tradesmen or take advantage of off-season savings if you’re in the U.S. and your boat is in Croatia or Turkey, but if you’re in the U.S. and your yacht is in Croatia or Turkey, you won’t be able to do so.

4. More common destinations

Because Western European countries are more common boat shipping destinations, costs are often cheaper than in Asia or Australia. As Western Europe’s shipping destinations are more popular, prices are substantially smaller than, for instance, for Asia or Australia. In addition, manufacturers typically have manufacturing plants in several countries due to international shipping costs.

5. Currency

The United States benefits from a weak currency, as does Europe in some ways. Because of the dollar’s low value, Europeans can buy U.S. exports at a lower price. Furthermore, as long as the currency is weak, oil, which is priced in dollars, keeps gas affordable to Europeans. Unfortunately, because the Euro is more expensive, European exports suffer. As a result, European firms must reduce prices to prevent losing market share.

Will you can save money by buying a boat in Europe really?

To begin with, boats in Europe are less expensive than in other parts of the world, such as the United States and Canada. But how much and at what cost would you save if you bought a yacht in Europe? Would buying a yacht in Europe really save you money?

Though boats are cheaper in Europe, taxes in your area, electrical conversions (220V to 110V), money transactions, transportation charges if you don’t know how to operate it, and accommodations (flights, stays, etc.) in Europe may hinder you from saving money.

You must travel to and stay in that place for that time period, and all travel fees, 220V to 110V conversions, money transactions, and shipping would cost money. Consequently, you can spend more money on these items than you did on the boat. You may not have been able to save on smaller ones until you’re buying something worth $100k or more.

If you buy a boat locally, you may also manage the expenses by inspecting it thoroughly (before paying for a surveyor). You might be able to shop around for local tradespeople or take advantage of off-season savings, but you won’t be able to do so while in the United States; your boat is in Croatia. Purchasing a yacht for $100,000, $200,000, or more, on the other hand, can save you money. You could save up to 38 percent or more when buying a yacht in Europe, depending on the boat.

We can’t just obtain enormous discounts on boats; we must put in a lot of effort. If you’re lucky, you could be able to save a lot of money by buying a boat in Europe; otherwise, you may end up paying more than the boat savings on other things.

What Are Jon Boats with Uses & Top 5 Jon Boats

Here are the costs you must expend after buying a European boat.

1. Transportation cost

The transportation cost was estimated to be roughly $14000. (For a load close to 40 feet in length.) The price was calculated based on the cubic volume of the cargo (including the mast).

2. Accommodations would take some percent

There is also the cost of accommodation in Europe. Boats, unlike internet shops, cannot be ordered on the spot. As a buyer, you must inspect the shop in person; since your shop is in Europe, you must travel to Europe. It costs money to travel, stay, and eat, and so on.

You’ll need to spend $1,000s on flights, hundreds of dollars on hotel stays, food, cab rides, and other expenses, and take weeks off work to achieve it. All of this is to look at a boat; you could end up paying $5,000 or more on accommodations. Then there’s the matter of getting it back to the United States.

If you buy a boat locally, you may also manage the expenses by inspecting it thoroughly (before paying for a surveyor). You might be able to shop around for local tradespeople or take advantage of off-season savings, but you won’t be able to do so while in the United States; your boat is in Croatia.

So, aside from losing all of your money buying a boat in Europe, you’ll need to get some boat discounts. Otherwise, time and money will merely be wasted. So, estimating all of the costs would give you an idea of whether it is better to buy in Europe or the United States.

3. Transaction fees

When you try to buy European goods with dollars, the dollar-to-euro conversion rate could change at any time, and there are extra transaction fees to consider. Unless you plan to catch the airline with a suitcase full of cash, expect to lose up to and about 5% to bankers, currency rates, and wiring fees… Which can be problematic… if it is seized.

You would not have to pay VAT tax if you buy a brand new boat in Europe and immediately take it out of Europe (sales tax in Europe). When the boat arrives in the United States, you must pay 1.5 percent of the boat’s value in (duties) import tax to customs.

If the boat was built in the United States or if a former owner imported it to the United States and then transferred it back to Europe, you won’t have to pay the import tax if you buy it. The federal government (country) collects import duties, not the states.

If you maintain the boat in the state for a certain period of time, typically 3-6 months, the state will charge you various taxes such as sales and use (property tax). The maximum sales tax amount that could be charged is 10% of the boat’s price. Sales tax is not required in Alaska, Delaware, Montana, New Hampshire, or Oregon. The annual property tax would be $100 or more.

Similarly, based on your state, you may be required to pay taxes ranging from 10% to 15% of the boat’s cost. On average, taxes would cost $10,000 to $15,000 on a $100,000 boat, and the money you saved buying it in Europe may cover some of the taxes.

5. Electrical conversions (220V to 110V) would take some percent

It is essential to understand the fundamental principle that running the same amount of power via a wire with half the voltage requires twice the amps. More amps mean more heat, which may necessitate larger cables. As a result, suitably sized cables are even more critical.

The voltage in Europe is 220V at 50Hz, whereas the voltage in the United States is 110V at 60Hz. It would be costly to change the wiring and systems from 220v to 110v. You should look into it before proceeding. Because current (not voltage) causes a 110V wire to be thicker than a 220V wire, the total amp load on a circuit should be sized for 110V.

The outlets would be designed differently. As a result, each boat must be examined separately because they will be outfitted differently. Otherwise, you could place a transformer on the onboard circuits to convert the 220V to 110V. Then you must check any built-in components (battery charger, air conditioner, refrigerator, etc.) to verify if they can run at 60 Hz.

However, most marinas and docks in the United States have two phases that deliver 220V and 110V across the phases. Before you go to the expense and bother of converting your wirings, contact someone who is already using a 220v boat in your area.

Before you go out and buy a boat, you need to know what to look for. Below are a few factors to consider when buying a boat in Europe.

1. Decide what you intend to do with your boat.

What you like to do with your boat is the biggest decision you need to make. What is your motivation for getting one? Will you be racing on weekends with it? Do you want to go on ocean cruises for a long time? Perhaps you could go fishing. Or are you like those folks who are sick of being on land and want to live on the water like an Atlantean? Whatever you select, it’s important to establish this immediately once you’ve decided to buy a boat. They aren’t all made equal and serve different purposes, so be sure you know what you want to do before purchasing a boat.

Double-check that VAT (also known as IVA in Europe) is included if you’re buying a used boat. You should ideally have proof of VAT in the form of an original receipted invoice from the manufacturer or the first owner. If the seller cannot establish VAT, you should consider whether you want to proceed with the sale.

If the boat is not paid VAT, you might wish to explore paying the VAT on the boat after the sale but get guidance first because the requirements vary depending on where the vessel is bought in Europe.

Making an application to pay VAT in the U.K. is simple, but in Europe, the law states that VAT must be paid at the first port of entry, so seek legal advice if this is something you’re considering.

3. Sales contract

All brokers (particularly those who are members of the MYBA ) must adopt a standard sales contract when it comes to contracts. MYBA standard contracts are well-known around the world.

You must count on getting a sale contract even if you’re working with a smaller brokerage that doesn’t employ typical sale contracts. This would detail the transaction’s terms and conditions, like the sale price, deposit forfeiture and refund, completion deadline, delivery location, and what happens if the survey is unsatisfactory, among other things.

Standard forms are available online, but unless you’re sure of your ability to handle the contract yourself, you should obtain legal guidance first.

One key thing to request at this time when buying a boat in another country is that your contract is translated into English and controlled by English law in case of a disagreement.

Most brokers must be able to assist you with this, but if not, make sure you have your contract translated before signing anything.

Translating this paperwork into English will also come in handy if you decide to sell the yacht in the future.

4. Do you want to buy a new or used boat?

Consider the difference between buying a new boat and buying a used one. Of course, your budget would play a significant role. New yachts would be significantly more expensive, but you’ll have a custom yacht built to your specifications. Because the used boat market is so large, you’ll have more room to haggle on price and will almost certainly find what you’re looking for. To give you an idea of the price disparity, a new 36-foot Island Packet from 2015 starts at $357,000, whereas a comparable 37- or 38-foot boat from the 1980s will cost roughly $150,000. That’s a significant difference!

5. Final Inspections

Before purchasing a boat, it is a good idea to inspect every part of it to ensure that everything is in working order. This will assist you in avoiding costly pitfalls. A maritime surveyor could aid in the detection of flaws in a new boat. When making such a large purchase, you must know what to look for.

Top 5 FAQs and Answer related to buying a boat in Europe

Buying a boat in Europe could be the best choice based on the type of boat and the intended use. If you decide to bring the yacht to the United States, do your research, consider all costs related to the purchase, and be prepared for a lot of government red tape. The first consideration is to find a boat at a reasonable price. If you intend to transport the yacht outside of Europe, costs rapidly rise. If you want to buy in Europe, make sure you do your research and work with a reputable broker.

So, I hope you got the full idea on Buying a Boat in Europe | Why, Where & What to Know Guide .

Please comment below about your ideas and share this “ Buying a Boat in Europe | Why, Where & What to Know Guide ” article with your friends.

Stay tuned to our website to find out more exciting stuff. Don’t forget to check out our previous articles too.

Until then, Read about, Top 10 Best Cajun Boats Made in the History | Review

Have a good day!

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Lisa's journalism career spans two decades, and she currently serves as the Americas Day Editor for the Global News Desk. She played a pivotal role in tracking the COVID pandemic and leading initiatives in speed, headline writing and multimedia. She has worked closely with the finance and company news teams on major stories, such as the departures of Twitter CEO Jack Dorsey and Amazon’s Jeff Bezos and significant developments at Apple, Alphabet, Facebook and Tesla. Her dedication and hard work have been recognized with the 2010 Desk Editor of the Year award and a Journalist of the Year nomination in 2020. Lisa is passionate about visual and long-form storytelling. She holds a degree in both psychology and journalism from Penn State University.

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The unspoken rules about how to behave on a superyacht

• The superyachting world is very small, with only 5,800 yachts longer than 30 meters at sea.
• That insularity has bred a specific etiquette, which is often hard for outsiders to know about.
• These are the de facto rules of the most expensive billionaire toys, superyachts .

For the owners of superyachts , privacy is often the most valuable thing money can buy. It's one reason centimillionaires and billionaires pay eight or nine figures for a palace at sea, far from the prying eyes of land dwellers.

Even the most gossipy crew members should stay tight-lipped about the name of a former owner or charter guest, and many brokers shy away from answering benign questions.

That means that, aside from basic safety guidelines, most of the rules of superyachting are unwritten. The very few who need to know them — there are only about 5,800 yachts longer than 30 meters at sea, according to SuperYacht Times — already know them.

But if you do happen to be a lucky guest at a party on a billionaire's $500 million ship or find yourself included in a $1 million-a-week vacation, there are a few things you need to know.

After four days of touring superyachts that sell for as much as $75 million and chatting with the people who buy, sell, and work on them at the Palm Beach International Boat Show , Business Insider gleaned a few key edicts. Given the discreet nature of the industry, almost all the people we spoke with requested anonymity to protect their working relationships, but here's what they had to say.

Take off your shoes

While it's a basic rule for anyone in boating, it may come as a surprise to an outsider that no matter how rich you are or how expensive your heels are, in the vast majority of cases, you can't wear shoes on board.

It's partly for safety — you don't want anyone slipping on a wet deck — but partly to keep the yacht clean. So expect to see barefoot billionaires, and if you forgot to get a pedicure, bring a set of special boat shoes.

Don't make any assumptions about money — but know the signs

In the superyacht world, it's safe to assume almost everyone you meet is very, very rich, and many brokers and builders say you can't judge a book by its cover when it comes to prospective clients.

"It has nothing to do with how they're dressed," one broker told BI. "It's the biggest mistake you can make because a complete slobby-looking guy or couple could be a multibillionaire."

There are, however, a few clues. Watches are one; new footwear is another.

"Rich people always have new shoes," a superyacht expert said. But because of the shoe rule mentioned above, this tip probably applies only when they're on land.

Book your massage early

Wellness areas, including spa rooms with a massage bed or two and a professional-grade facial machine, are becoming must-haves on superyachts . Most have a customized spa menu and a crew member who doubles as a trained masseuse or beautician — and they're usually in high demand.

One captain said he'd implemented a booking system to ensure people weren't fighting for the same spots. A broker said sometimes masseuses would be so busy they wouldn't leave the small spa cabin for hours on end.

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So if you want to make the most of your relaxing time on board, reserve your pampering slot as soon as you get your welcome cocktail.

Pirates are more real than you'd think, and many superyachts have hidden safe rooms

While you might dress up as a fake pirate for an onboard theme party, there are very real ones — and other dangers — on the high seas.

In certain areas, including parts of the Indian Ocean and the Gulf of Aden, pirates are a cause of concern . In the Red Sea, owners are concerned about the Houthis .

Superyachts can come equipped with sonic weaponry, lockdown systems, and anti-drone protection. Builders are even designing safe rooms — which are apparently just as plush as the rest of the ship.

The longer the boat, the closer to $1 billion

While you can't judge a buyer based on appearances, you can judge them on the length of their boat.

One rule of thumb: If someone has a brand-new 50-meter vessel, chances are they have $1 billion to their name. If it's over 100 meters, expect the owner to have at least $2 billion. And for a boat bigger than that — like Jeff Bezos' 127-meter megayacht Koru — it takes many, many billions.

Money can't buy you everything

The world's biggest, most expensive yachts are custom-built by shipyards that produce only a handful of boats a year.

But no matter how many tens of millions of dollars clients are spending, there are things to which builders will refuse to say yes.

"In the end, the boat has our name," an executive from one of the world's biggest shipyards told BI.

They recalled a client who requested a yellow hull to match his Lamborghini . The shipyard declined, steering the client in another direction.

"If I don't like it, I don't build it. I finalize two or three contracts a year," another builder said. "If somebody can say your vessel is ugly, my reputation is bad."

Yacht crews are trained to make the impossible possible. A guest requests fresh caviar flown into the middle of the Caribbean? No problem. Fresh flowers every day while at sea? It'll cost you, but it can be done.

But they can't time travel, and captains and crew members say the thing that causes the most friction is when a client or owner wants to go from point A to point B — right now.

"The hardest request is when they want the boat in a place — yesterday," one captain said.

The best person to know? A friend with a superyacht

Superyachts are expensive to build and expensive to maintain . According to the industry standard, owning a superyacht will cost 10% of its new-build price annually. For a $100 million yacht, that's at least $10 million yearly going to crew, regular maintenance, insurance, fuel, and dockage.

Chartering, too, is costly . Beyond the list price, which can be hundreds of thousands a week, guests must pay for provisions, which are pegged at 35% of the charter fee, and are expected to tip between 10% and 20%.

So the most important unspoken rule of superyachting is actually that the only thing better than owning a superyacht is knowing someone else who does — and invites you along, of course.

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Turkey DISPATCH

A Stork, a Fisherman and Their Unlikely Bond Enchant Turkey

Thirteen years ago, a stork landed on a fisherman’s boat looking for food. He has come back every year since, drawing national attention.

Adem Yilmaz in his fishing boat with his stork companion, Yaren. Credit...

Supported by

By Ben Hubbard and Safak Timur

Photographs by Ivor Prickett

Reporting from Eskikaraagac, Turkey

• March 30, 2024

Thirteen years ago, a poor fisherman in a small Turkish village was retrieving his net from a lake when he heard a noise behind him and turned to find a majestic being standing on the bow of his rowboat.

Gleaming white feathers covered its head, neck and chest, yielding to black plumes on its wings. It stood atop skinny orange legs that nearly matched the color of its long, pointy beak.

The fisherman, Adem Yilmaz, recognized it as one of the white storks that had long summered in the village, he recalled, but he had never seen one so close, much less hosted one on his boat.

Wondering if it was hungry, he tossed it a fish, which the bird devoured. He tossed another. And another.

So began an unlikely tale of man and bird that has captivated Turkey as the passing years — and a deft social media campaign by a local nature photographer — have spread the pair’s story as a modern-day fable of cross-species friendship.

The stork, nicknamed Yaren, or “companion,” in Turkish, not only returned to Mr. Yilmaz’s boat repeatedly that first year, the fisherman said, but after migrating south for the winter, returned the next spring to the same village, the same nest — and the same boat.

Last month, after Yaren appeared in the village for the 13th year in a row, the local news media gleefully covered his arrival like the springtime sighting of a Turkish Punxsutawney Phil .

The pair’s story has brought unexpected fame, although no serious fortune, to Mr. Yilmaz, 70, and Yaren, estimated to be 17. They have co-starred in a children’s book and an award-winning documentary . A children’s adventure movie featuring a cameo by Mr. Yilmaz (and a digital rendering of the stork) is expected to debut in cinemas across Turkey this year.

Stork lovers everywhere can watch Yaren and his partner, Nazli, or “coquette” in Turkish, as they preen, contort their necks, clack their beaks, renovate their nest and occasionally mate, thanks to a 24-hour webcam set up by the local government.

“This is not a tale. This is a true story,” Ali Ozkan, the mayor of Karacabey, whose district includes the village, said in an interview. “It is a true story with the flavor of a tale.”

The bird’s celebrity has bolstered municipal efforts to increase local tourism with walking paths and coffee shops near the district’s lakes and wetlands, he said. The area has developed a stork “master plan” to care for the birds.

He initially faced some criticism from constituents who wondered why a mayor was getting involved with storks, he said. But now, residents call in when they notice damaged nests, and a friend from another city recently phoned him to complain that he could not see Yaren on the webcam.

The story has put Mr. Yilmaz’s village of Eskikaraagac — population 235 — on the map, drawing groups of students and tourists who stroll its narrow streets to see the storks and take boat rides on neighboring Lake Uluabat. Many visitors seek out Yaren’s nest, which sits on a platform atop an electric pole near Mr. Yilmaz’s house, and act star-struck when they encounter the fisherman himself, peppering him with questions and posing for photographs.

Sea of Marmara

Eskikaraagac

Mediterranean

One recent morning, Mr. Yilmaz stood in the yard of his small, two-story house holding a tub of fish he had caught. In their nest overhead, Yaren and Nazli dozed, groomed themselves and filled the air with the percussive clacking of their beaks.

“Yaren!” Mr. Yilmaz called.

Both birds glided down to the yard, and Mr. Yilmaz lofted fish into their beaks.

“They are full,” Mr. Yilmaz announced after the birds had downed about two dozen fish. “After 13 years, I can tell.”

Storks have long nested in the village, arriving in the spring and mating before migrating in the late summer toward Africa.

Village elders recall when there seemed to be a stork nest on every roof and residents struggled to prevent the birds from swiping laundry from outdoor lines. But most people liked the birds, whose arrival right after pink flowers bloomed on the almond trees was a harbinger of spring.

Ridvan Cetin, the village’s elected authority, said a count in the 1980s found 41 active nests, meaning 82 storks, not including chicks.

This year, the village has only four active nests, including Yaren’s.

“Now they are very few,” Mr. Cetin said sadly.

No one in the village could recall a bond similar to that between Mr. Yilmaz and Yaren.

“I’ve never seen anything like it,” Mr. Cetin said.

For Mr. Yilmaz, a quiet man with leathery hands and a kind, rutted face, Yaren was a serendipitous addition to what he had hoped would be a late, restful chapter in an otherwise difficult life.

He grew up poor. His father pulled him out of school to work in the fields and fish, no matter how cold the weather.

“My life was between the field and the lake,” he said.

His mother died when he was 13. His father remarried when he was 17 to a woman Mr. Yilmaz did not like. So, with only an elementary school education, he fled to Bursa, the nearest big city, and worked in a factory that made yogurt and other milk products.

At 19, he married another villager he had known since childhood. They lost their first child, a daughter, weeks after her birth. He worked in different milk factories as he and his wife raised three other children, two boys and a girl.

In 2011, with his children grown and living elsewhere with his five grandchildren, he stopped working, returned to the village and moved back into his childhood home, next to the lake where he had fished as a child.

“It was my dream from the day I started working to go to my village and fish,” he said.

Soon after, the stork landed on his boat.

Each time Yaren left, Mr. Yilmaz wondered whether he would return. But after a few years, he stopped worrying.

“I was sure that as long as I was alive, this bird was going to return,” he said.

Early on, no one much cared that Mr. Yilmaz had made friends with a stork. Other villagers teased him or said he was wasting his time — and his fish.

That changed in year five, when Alper Tuydes, a hunter turned wildlife photographer who works for the local government, began sharing photographs of the pair on social media. The story spread, getting a lift each spring with Yaren’s arrival.

The relationship of man and bird corresponds with known stork behaviors, said Omer Donduren, a Turkish ornithologist.

Although storks avoid direct contact with people, they often roost near them, on roofs, in chimneys or atop electricity poles.

The birds tend toward monogamy and display loyalty to their nests, parting ways with their partners to migrate, but rendezvousing in the same nest in the spring to reproduce.

That could explain why Yaren has roosted near Mr. Yilmaz’s house year after year, Mr. Donduren said.

Storks, which can live for more than 20 years in the wild and more than 30 in captivity, also have strong memories, enabling them to remember migration routes from as far north as Poland and Germany to destinations many thousands of miles south, as far as South Africa. It is unclear where Yaren spends his time after he leaves the village, but a tracker affixed to one of his offspring followed the bird over Syria, Jordan, Israel, Egypt, Sudan, Chad and the Central African Republic before it stopped working.

Over time, Yaren’s experiences with Mr. Yilmaz have probably become part of his memory, he said.

“Nature doesn’t have much space for emotions,” Mr. Donduren said. “For the stork, it is a matter of easy food. It thinks, There is an easy source of food here. This man seems safe. He doesn’t hurt me.”

Mr. Yilmaz’s explanation is much simpler.

“It is just to love an animal,” he said. “They are God’s creatures.”

One recent morning, Mr. Yilmaz rowed into the lake and pulled up his net, dropping small fish into the boat.

“Yaren!” he called.

The stork took flight, did a loop to surveil the boat and perched on a lamppost near the bank.

“Yaren!” Mr. Yilmaz called again.

The bird took flight again, finally alighting on the boat, where Mr. Yilmaz tossed him fish after fish.

After a while, the stork lifted off, glided around the village and returned to his nest.

“That’s it,” Mr. Yilmaz said with a satisfied smile. “He is full.”

Ben Hubbard is the Istanbul bureau chief, covering Turkey and the surrounding region. More about Ben Hubbard

Ivor Prickett is a photographer based in Istanbul. He covered the rise and fall of ISIS in Iraq and Syria while on assignment for The Times. More recently he has been working on stories related to the war in Ukraine. More about Ivor Prickett

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French carpooling app BlaBlaCar secures $108 million to ‘buy other firms and grow larger’ after turning first profit

BlaBlaCar, the Paris-based online car-pooling service, has raised a €100 million ($108 million) credit line so it can buy other firms and grow larger before going public.

The company reached its first full year of profitability in 2023 after a “pretty rough” pandemic, according to Chief Executive Officer Nicolas Brusson. Net sales grew 29% last year and the company said 80 million passengers booked travel through its app.

Just before Covid-19 hit,  Brusson was talking up  a public listing within the next few years. Not anymore. “We’re not in a process to do an IPO and I don’t think we will be fairly soon,” he said in an interview this week, adding that the company needed to grow two or three times bigger. “Hence, the focus is to stay private, do the type of financing we just did, and grow.”

BlaBlaCar, founded in 2006, is one of France’s earliest unicorns and hit on the idea of on-demand trip-sharing long before Uber Technologies Inc. took off. The company began as a platform to connect drivers and riders heading the same way, taking a cut of as much as 20% on each trip. It never launched in the US, possibly costing it exposure and a faster path to growth.

Starting 2018, the company expanded into buses, acquiring travel operators in France and  eastern Europe . Bus trips now account for about a fifth of sales, said Brusson, and as much as a third in some markets.

Revenue crashed during the pandemic, when travel and car-pooling ground to a halt. Net sales dropped from about €130 million in 2019 to €80 million in 2020, but climbed to €253 million last year. Brusson said he managed that rebound without any job cuts or furloughs. 

BlaBlaCar did raise money during this period, bringing in €97 million in 2021, giving the company a $2 billion valuation. Brusson declined to share whether the valuation has changed.

The CEO said the new credit infusion will mostly be used to acquire smaller online travel marketplaces and agencies. He mentioned looking particularly at fast-growing markets like Brazil, Mexico and India. “It does not make sense to raise equity and take a massive dilution if you’re profitable,” Brusson said.

The revolving credit facility comes from eight banks, including BNP Paribas SA, Societe Generale SA and JPMorgan Chase & Co.

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High-ranking Ukrainian officers have given a grim picture of the situation on the battlefield, saying there is a risk of frontlines collapsing wherever Russia chooses to launch an offensive. Read all the latest on the war - and submit a question on the conflict for our experts - below.

Wednesday 3 April 2024 13:15, UK

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Ask a question or make a comment

Our comments box is open once again for you to submit a question on the Ukraine war for Sky News military analysts or correspondents.

We'll pick the best one to answer each week.

Former Ukrainian president Petro Poroshenko has revealed he is planning to run for office again. 

However, he made clear he will only do so once the war with Russia ends. 

"If you ask me if I plan to participate in the next election, [then] yes," he told Al Jazeera. 

"But first, for this election, we need to have a victory." 

Ukraine was meant to hold its next presidential vote this year, but cannot do so while martial law - declared in response to the war - is in place. 

President Volodymyr Zelenskyy said in December last year he was willing to proceed with the election as scheduled but believed most Ukrainians think a vote would be "dangerous and meaningless" in wartime. 

Mr Poroshenko was Ukrainian president between 2014 and 2019 but was ousted in an election against Mr Zelenskyy. 

The bitter battle between the pair in 2019 saw Mr Zelenskyy win a landslide, with 73.22% of the vote.

Zara, Bershka and Pull&Bear have reopened some of their stores in Kyiv.

Long queues of people waited outside to enter this morning. 

Inditex, which owns Zara and other brands, was earlier confirmed to be gradually resuming its operations in Ukraine. 

Some 20 physical stores are expected to reopen in the Ukrainian capital. 

Many foreign companies had suspended their operations in Ukraine after the war broke out in 2022. 

The two countries have signed a 10-year agreement on security cooperation and long-term support. 

Finland's President Alexander Stubb is currently in Ukraine, where he has been meeting Volodymyr Zelenskyy.

The deal covers a range of topics including political support, backing for Ukraine's defence and security and support for Ukrainian reforms and reconstruction.

"The 10-year agreement is proof of Finland's long-term commitment to supporting Ukraine," Mr Stubb's office said.

Mr Stubb also told the Ukrainian president that Finland would send another package of defence materials with an estimated value of around €188m.

The Ukrainian spy agency is planning a third attack on the Kerch bridge connecting occupied Crimea with Russia, senior officials have reportedly said. 

One official told The Guardian that Ukraine's HUR intelligence service is looking to disable the bridge in the first half of 2024.

They said Kyrylo Budanov, the head of the main directorate of intelligence, already had "most of the means to carry out this goal". 

The plan has been approved by Volodymyr Zelenskyy, they said. 

The bridge has been struck twice by Ukraine previously. 

In October 2022, an explosion caused several spans of roadway to fall into the water. 

Last July, an overnight raid by Ukrainian sea drones caused significant damage to the road section of the bridge. 

Russia has been taking extensive measures to protect the bridge, which is key for transporting military supplies. 

The price of oil has climbed following a Ukrainian drone strike on Russia's third-largest refinery.

The attack on the Taneco facility, in the province of Tatarstan, appears to have been Kyiv's deepest strike inside Russian territory since the invasion of Ukraine more than two years ago.

The strike on Tuesday started a fire which took around 20 minutes to extinguish. No major damage to the site or injuries were reported.

However, it was enough to trigger concern from investors, helping to push the cost of Brent crude above $89 (£71) a barrel on Wednesday morning - its highest level in six months.

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A teenager who was working at the Crocus Concert Hall when it was stormed by gunmen last month has described how panic broke out at the venue.

Artem Donskov, 14, was working as a cloakroom attendant at the time.

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At least 144 people were killed in the attack on 22 March, which Islamic State claimed responsibility for.

Artem's mother, Alexandra Donskova, told Reuters news agency that he and the family were emotionally exhausted. She said he was a shy boy and she was concerned about his mental health.

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As we've been reporting, NATO foreign ministers are meeting today in Brussels. 

They will be discussing long-term support for Ukraine, including a proposal for a €100bn five-year fund. 

Diplomats say the proposals by NATO secretary-general Jens Stoltenberg would give the Western alliance a more direct role in coordinating the supply of arms, ammunition and equipment to Ukraine. 

However, they say discussions on the proposal are at an early stage and a fund for €100bn "looks very optimistic". 

It's not clear whether the figure will be accepted or how it will be financed. 

Arriving at the meeting, Mr Stoltenberg said: "We need to shift the dynamics of our support.

"We must ensure reliable and predictable security assistance to Ukraine for the long haul, so that we rely less on voluntary contributions and more on NATO commitments. Less on short-term offers and more on multi-year pledges."

The plans would see NATO take over some of the coordination work from a US-led ad-hoc coalition known as the Ramstein group.

The move is at least partly designed to guard against any cut in US support if Donald Trump returns to the White House. 

Volodymyr Zelenskyy has highlighted the scale of Russia's aggression against Ukraine, revealing more than 3,000 guided aerial bombs were fired last month alone. 

Russia also fired 600 drones and 400 missiles at the country, the Ukrainian president said. 

Many of the guided air-dropped bombs have been used in frontline areas. 

They are dropped from warplanes well inside Russian-controlled territory and glide towards their targets at high speed.

Moscow has used these to drop vast amounts of explosives onto Ukrainian entrenchments and buildings near the front. 

We're currently hearing from British Foreign Secretary Lord Cameron, who is speaking on the sidelines of a NATO meeting of foreign ministers.

He has welcomed Sweden's foreign minister Tobias Billstrom to the alliance at the meeting, saying NATO has "become stronger" as a result. 

Now the "most important thing we can do" is to ensure all members spend over 2% of their GDP on their defence, he says. 

Many countries are doing this but the alliance needs all members to do so, he says. 

This needs to be done to make sure the upcoming NATO summit in Washington is a success, and to prepare for the US election this winter, Lord Cameron adds. 

Donald Trump, who is hoping to return to the White House, controversially said earlier this year that he'd "encourage" Vladimir Putin to attack any NATO member that didn't pay their "bills".

The first heavily fortified underground school in Ukraine has opened in the northeastern city of Kharkiv. 

Hundreds of educational facilities across Ukraine have been destroyed since the war began, and Unicef has said only a third of the country's schoolchildren are currently studying in-person. 

Many students have been forced to attend classes in underground metro stations and other makeshift shelters, which often lack proper heating. 

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