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What do I do with my Crew $alary

A common discussion amongst yacht crew is how to manage finances and what taxes are applicable to their income, each individual is different and not mant accounting firms or lawyers fully understand the yachting industry. Help is now available through the Captains Family Office that specializes in serving the needs of superyacht crew worldwide.

You don’t have to talk to crew members for long to realize that there is a serious shortage of good, sound advice on what are the best savings and investment opportunities for them in their particular circumstances. So a number of ex-yachties and people with experience in financial services have got together to create the Captains Family Office, an organisation whose aim is to assist superyacht crew with the often complicated task of arranging their financial, tax and legal affairs.

What do they offer ?

Tax advice and tax returns.
Legal support
Many yacht crew think they know their tax situation but most are wrong. Our official tax partner will clarify this and, if required compile and submit your annual tax return for you. This ensures you can never be pursued for back taxes.
Power of Attorney is a very useful tool for Superyacht crew. This allows you to authorize someone to pay bills and take care of banking, mortgages and other utilities on your behalf. A will is essential for everyone regardless of career to avoid huge complications if the worst were to happen.
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Banking Mortgages
All Superyacht crew at some point or another have an issue with their bank. Whether it is charges, exchange rates or simply the fact that you can’t get a euro debit card. We work closely with a number of banks to ensure that this problem is solved, therefore providing you with the solution you need.
Always a sore point with yacht crew. Our mortgage partner will advise you on, not only the best way to ensure you are eligible for a mortgage but also introduce you to our mortgage specialists who will source you the most suitable product.
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Currency Exchange Insurance
Have you ever added up the amount of money you waste every year transferring funds from one account to another? Our FX partner can reduce this for you massively by setting you up with a simple F/X trading account. This, combined with the correct bank account will save you a large amount of money each year in transfer fees and favourable rates alone.
We have developed a bespoke policy, which covers you personally for the length of your yachting career against injury and illness. This policy is backed by a major insurer and is available exclusively to CFO members. On top of this you also receive personal belongings cover (laptops, cameras, phones, watches) for times when the worst happens. This is a yachting industry first and something the industry has needed for a long time.
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Financial planning from Wealth management and advice to tax efficient Investments and Pensions
Because you work offshore there are a special range of investment products and services that may be available to you. Investing in domestic tax-free plans in the UK or wherever is home for you is often misguided, as the main reason is the taxation benefit. This is of little benefit to you; therefore looking at this from a different angle is the key. We will give you access to specialist advice so you can maximize your earnings during your time offshore.
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For More Information

contact ‘The Captains Family Office’ image-1
www.captainsfamilyoffice.com 

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