Porto Montenegro is doubling its capacity to 460 berths by May 2015, with the potential to build up to 850 berths following “increased demand from visiting boats”, the company claims.
Located in Tivat, Porto Montenegro is said to be the first luxury marina to offer tailor-made short and long-term berth leases of up to 30 years with 250 berths for yachts from 12m-150m in length. The marina is THYA 5 Gold Anchor accredited and is equipped with services such as a chandlery, provisioning and bonded warehouse.
“The tax-efficient status of Montenegro offers numerous benefits to private and commercial vessels including fuel costs, which are tax and duty free, reducing expenditure by up to 45% over other European countries,” says Porto Montenegro in a statement.
“In addition to this, 7% VAT is charged on marine related services, company and capital appreciation tax is set at 9%, plus those with long term berths can benefit from 75% return on sub-lets.”
Porto Montenegro claims to have already seen a 10% rise in occupancy rates this season following changes to Croatian tax and legislation affecting the country’s yachting industry.
In Montenegro, EU-flagged vessels do not require charter permits to cruise or embark but will incur 13% VAT for embarkation in Croatia. Non-EU flagged vessels of all sizes embarking from Montenegro are not charged a charter permit to cruise domestic or Croatian waters, and benefit from tax-free fuel and 0% VAT for all charters.