The idea of selling a yacht in Dubai may sound very fancy, but it can be really stressful if the paperwork is not done well in advance. It does not make any difference whether the investor or buyer is local or international; having the right documents makes the process of buying a yacht really smooth and fast.
If you want to buy a yacht in Dubai, there is a strict and well-made system for yacht ownership transfer. And if you are prepared as per the system’s guidelines, you won’t find any hurdle in your way.
Here is an easy and detailed breakdown of everything you have to do.
Why does proper documentation matter?
Let’s get started with a very basic question. Why do these documents even matter?
- It is proof of legal ownership.
- It is for the protection of both the seller and the buyer.
- It saves your time and saves you from rejection.
- It assures compliance with UAE maritime laws.
And if documentation is not done properly, the transfer may take ages.
Essential documents every seller must prepare
Original yacht registration certificate
This is one of the most important documents that you need.
- It is the proof of your legal ownership.
- It is given by the Dubai Maritime City Authority.
- Make sure it is valid and active.
If registration has expired, do get it renewed before the transfer process.
Seller’s passport and Emirates ID
The other important papers you require are
- A copy of your passport.
- If you are a local resident, then the Emirates ID.
- Some additional documents are also required if you are a company.
Proof of clear ownership
If someone is interested in buying your yacht, they must be given assurance that there are no hidden issues.
And for that you need:
- Marina fee clearance
- No pending fines
- No outstanding loans on the yacht
If you have taken a loan for the yacht, a bank clearance certificate is a must.
Sale and purchase agreement
This agreement basically mentions:
- All the details of both buyer and seller
- Yacht specifications
- Selling price of the yacht
- And payment terms and conditions
There should be signatures of both parties. This document is essential in order to avoid any kind of misunderstandings.
VAT documentation
VAT documentation is required if you want to purchase the yacht for commercial or charter use. And it depends on the yacht and the type of transaction. So, for that, you may require:
- VAT invoice
- And if you have paid it already, then you need to give proof of payment.
No objection certificate
NOC is required to ensure that:
- The yacht is free from any kind of dispute.
- There is no objection to the sale from any authority.
You may get it issued by:
- Marina management
- Financing institution
Additional Documents for Company-Owned Yachts
For the yacht that is registered under any company, you may need some additional documents.
- A copy of the trade license
- Approval of the board resolution
- A clear copy of the authorized signatory’s passport
- Stamp of the company on all the documents
Final transfer application
Once all the legal documents are ready from both parties, it gets submitted to the authority for the legal approval of the ownership transfer. And after the verification process is done, the registration of the yacht gets done under the name of the buyer.
Conclusion
Selling a yacht in Dubai is not as easy as it appears. But the truth is that it gets on your nerves when documents are taken for granted.
Prepare yourself with the right and early documentation, and see how effortless the process feels. Always remember, a buyer who wants to buy a yacht in Dubai looks for transparency and professionalism. And a seller who is well prepared always outshines!
