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Be compliant, stay compliant: Dutch tax consultant opens up in Malta to support the growing superyacht industry
Rotterdam/Valletta/Monaco/Palma, May 2nd 2018 – International Tax Consultant Tysma | Lems opens up in Malta to support owners and people working in the growing luxury and super yacht industry. Tysma | Lems will bring its knowledge about international tax treaty’s, maritime laws and sixty-five years experience in the maritime world to the table of the luxury yacht industry. Via its pro-active and global approach, Tysma | Lems works on behalf of its clients in order to spare them from unnecessarily problems with tax authorities about income tax remittance, social security and labour inspection authorities about following the MLC convention.
The industry for Superyachts is a rapid growing market due to the global growth of Ultra High Net Worth Individuals (UHNW) who are in need of extreme exclusivity. According to various reports the number of super yachts to be delivered in 2020 will grow up to five thousand nine hundred units. Industry growth and problems come hand in hand, especially when there are large sums of money and incredibly expensive assets to be overseen. Therefore, it is of crucial importance for all actors to be on the same page. With its 65 years of experience in the field Tysma | Lems International Tax Consultants has positioned itself as one of the key actors who will interact and communicate with all involved parties about the tax obligations for the owner, his management, his family office or management company and its crew.
‘Managing a yacht is like running a very dynamic and complex company where there is a continues desire to create chaos’ The support and willingness of Tysma | Lems to pro-actively create some form of structure how to deal with all international tax obligations is very welcome’ states Captain Avnish Dhall.
Be compliant, stay compliant
What makes the yachting so exciting and different from other industries is the unpredictability and constant itinerary changes. One day the yacht is at one destination and the other it sails out to another part of the world. Because of this unpredictability, it is super hard for the management on land to keep it up with compliancy at every destination. Therefore Tysma | Lems predicts the unpredictable with is number of up to date of processes and tools to assure the crew and its management of staying compliant, no matter where the yacht has been or is about to sail. By combining and integrating extensive knowledge, technology and process management Tysma | Lems created this pro-active approach.
‘The focus of authorities on this growing industry is evolving rapidly and is forcing the management of superyachts to make the unknown known to avoid any conflicts with the authorities or as we say at Tysma | Lems be compliant, stay compliant’. states André Kievit, Managing Director of Tysma | Lems Group.
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ABOUT TYSMA | LEMS INTERNATIONAL TAX CONSULTANTS
Tysma | Lems is a international tax advisory firm specialising in income tax, social security, pensions and inheritance tax matters for global citizens working and/or living abroad.
The firm was founded by Mr Tysma in 1953, who acquired considerable knowledge of such matters whilst working for the Holland America Line. After filing tax returns for colleagues, demand for his services grew so much that he decided to set up his own business. Since then, Tysma Lems has gone from strength to strength, drawing on six decades of experience and expertise to provide clear, tailored advice to individual clients.
Infused with the spirit of the port cities where we have offices, we have a global outlook and a hands-on approach. All of which explains why we have an outstanding track record in supporting global citizens.