France Expected To Attract More Superyachts As New Law Is Overturned

By Oliver Pearson 13 September 2017

A new law which was beginning to have a damaging effect on superyachts in France was officially overturned last Friday.

Following a successful six month campaign led by major yacht companies and trade organizations, French ministers last week declared that superyacht crew will no longer be made to make social security contributions.

Announcing their decision via their website, the French marine authorities explained how ‘the Prime Minister has fully grasped the problem’ and, subsequently, ‘the withdrawal of this measure is registered’.

Sure to please owners keen to base their superyachts in the French Riviera both privately and for charter purposes, this overturning will also prove beneficial for businesses on the mainland. Indeed, in a previous article we looked at how the decree had led to Local Businesses Suffering From Fewer Superyachts In Popular French Ports.

A decree which threatened to destabilize many facets of the established yachting industry in France, economic forecasters predicted that brokerages, shipyards, and marinas would all suffer should owners decide to berth their vessels elsewhere in the Mediterranean.

Of course, charter guests can be particularly excited as it is expected that a wide range of motor yachts and sailing yachts will remain available for vacations in the stunning waters now that the overruling has been confirmed.

The overturning of these restrictive laws is sure to increase superyacht charter activity in France

Clearly a necessary overruling, the chairman of the Beneteau Group reported that French yachting businesses suffered an alarming 30 to 40% drop in business over the summer.

Now, with the ability to operate in France without harsh measures being imposed, it is hoped that things will return to normal for superyacht owners and charter guests.

As ever, any new developments which unfold in regards to this law will be extensively covered by YachtCharterFleet.