Home / Maritime Law / Purchase, Registration and Financing
As specialist lawyers, we advise you through every stage of acquiring your vessel in Ibiza: legal verification before buying, choosing the most suitable financing structure, registration and flagging, and technical certification when the vessel requires it.
Buying a vessel doesn’t end when the contract is signed. Registration determines which list the boat must be entered under according to its use, the financing chosen affects its taxation for years to come, and technical certification can be the difference between obtaining insurance or a naval mortgage on reasonable terms or not obtaining them at all. Reviewing each of these steps before moving forward stops a problem from surfacing months later, when it’s far more expensive to fix.
«Most of the problems we see after a nautical purchase don't come from bad luck, they come from not having checked something before signing: an outstanding charge, the wrong registration list, or financing poorly structured for the buyer's profile.»
FORTE ABOGADOS • PURCHASE, REGISTRATION AND FINANCING
We verify the vessel’s legal status before you sign: outstanding charges, arrests, registered encumbrances, and consistency between what you’re being offered and what is actually on record.
We advise you on which financing structure best suits your profile and the intended use of the boat, not just on getting you the loan.
We handle the registration of your vessel under the list that corresponds to its actual use, and flagging under whichever flag best suits your tax and operational situation.
We advise you on when you need a class certificate and which classification society is right for your vessel, a step commonly required for financing, insurance or access to certain ports.
List 6 is for vessels intended for commercial use (charter or rental); list 7 is for private use, recreation or non-professional fishing. The vessel’s actual use determines which list it must be registered under, and switching from one to the other requires an additional technical survey.
A naval mortgage finances up to 75% and registers security over the boat; nautical credit can reach up to 100% without that registration, though at a higher interest rate; leasing is a rental with an option to buy, with the advantage of paying VAT instalment by instalment rather than all at once.
Before it can be registered in Spain, it’s essential to process its deregistration from the country of origin. Without that step, the Spanish maritime authorities cannot register the vessel.
It isn’t mandatory for every recreational vessel, but it’s often required for larger vessels, to access certain financing or insurance, or to enter certain ports that require it as a condition.
Yes, although it involves deregistering the previous flag and processing a new one, with whatever tax and inspection implications apply to the newly chosen flag.
The trust of those who have already worked with us is the best reference for how we handle each case: with commitment, honesty and direct attention from the very first contact.
