CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Architect's First Superyacht Launched In Italy

Architect's First Superyacht Launched In Italy

by Mary Swire, Tax-News.com, Hong Kong

30 April 2009


The first superyacht to be designed by architect Norman Foster has been launched in Italy.

Named the "Ocean Emerald," the 41m superyacht has space to accommodate around 12 guests and 7 crew members in its five suites, which have been furnished entirely by Italian manufacturers.

The Ocean Emerald is one of four identical yachts designed by Foster for fractional ownership company YachtPlus. The second in the series - the Ocean Pearl - is due to commence service in Autumn this year and the third - the Ocean Sapphire - will be ready in the early months of 2010. The fourth yacht in the series, which is yet to be named, will be launched in late 2010.

YachtPlus will lease the vessels to individuals under a fractional ownership scheme. For EUR1,875,000 (GBP1,664,021), a 1/8th share in one of the yachts can be bought, which, over a period of 12 months, will buy a 30-night stay onboard in either the Caribbean or Mediterranean.

Alternatively, a EUR975,000 (GBP874,056) fee will buy a 1/16th share, which will halve the ownership period to 15 nights.

All yachts will be sold after 8 years, with the proceeds shared amongst the owners accordingly.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »