Seller’s checklist: Documents required for a seamless Dubai ownership transfer

• 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!