New Legislation Increases Luxury Yacht Charters in the Balearics

By Editorial Team 25 February 2015

New legislation is bringing significant increase in Balearics superyacht charters; over a year after non EU-flagged superyachts were permitted to charter in popular destinations such as Ibiza.

A move that allowed charter yachts of all sizes in Spain to claim exemption from the matriculation tax has brought noticeable change to the number of charter yachts visiting the country. Since 2011 – where there were approximately 17 superyachts chartering in Spain out of 802 vessels in the Mediterranean – there has been a 200% increase in luxury yacht charters in Spain (according to figures by MYBA).

Palma-based legal firm Network Marine Consultants report they have seen the number of superyacht charter licenses they administer rise from zero in 2013 to 33 in 2014 – comprising of 25 motor yachts, 4 sailing yachts and 4 catamarans. Furthermore marine trade association ANEN have publicised how Spain’s recreational yachting market increased by nearly 10% following 6 years of decline.

This figures have largely been boosted by the popularity of the luxury yacht charters in the Balearics, as the islands continue to be the destination of choice for many – dominating 14.78% of yacht registrations. Comprised of the main islands of Mernora, Mallorca, Ibiza and Formentara, a Balearics charter vacation offers a blend of sun-soaked white-sand beaches and a traditional, laid-back way of life. One of the leading West Mediterranean’s leading summer charter destinations, Ibiza superyacht charters boasts a lively nightlife and spectacular natural beauty, including World Heritage Sites such as ‘God’s Finger’ in Benirràs Bay.

Patricia Bullock from Network Marina Consultants commented on the change, stating “2014 was a year to remember, giant steps were taken and the brakes came off Spain’s yachting sector. We are now open for fair and commercially-viable business and the industry has started to flourish. Right now we are busier than ever with plenty of boats going through the process of obtaining their first licence for charter in the Balearic Islands, many of them superyacht sized. Word is spreading, trust is being earned, and we should see a busy summer charter season.”

To begin planning a Balearics charter vacation, please contact your preferred charter broker – or view all luxury yachts available for charter in Ibiza to find the ideal vessel for your party’s needs.