EU Yacht Purchase Reporting Rules Set for July 2027

New EU anti-money laundering rules will bring additional reporting requirements to qualifying private yacht purchases, making intended use and ownership planning more important before completion.

Regulation (EU) 2024/1624 generally applies from 10 July 2027. Article 74 introduces reporting for qualifying non-commercial watercraft acquisitions, using a threshold of at least €7.5 million.

Relevant high-value goods traders must report qualifying sales to a financial intelligence unit. Banks and financial institutions involved have separate reporting duties. This threshold-based process does not depend on a cash payment or an allegation of wrongdoing.

Intended use matters

Company ownership alone does not establish a commercial purpose. Participants must assess the proposed use, with mixed private and charter arrangements requiring particular attention.

Article 67 can also require qualifying non-EU entities or trust arrangements to register beneficial ownership information before completion. Its application depends on the transaction and the parties involved.

There is a distinction between Article 74’s inclusive threshold and Annex IV’s wording above €7.5 million. Purchases at the boundary merit specific advice. The rules do not automatically cover every yacht sale worldwide; the relevant EU connection and each participant’s role must be established.

Source: SuperyachtNews