A new law by the Greek Ministry of Shipping has introduced a new pathway for yachts of 35-metres and over and constructed of plastic, steel or aluminium to charter in Greece. By acquiring a ‘Specified Period Charter Permission’, yachts will be entitled to charter within Greek waters for up to 21 days, plus a seven-day extension, in any one calendar year.
This means bypassing the arduous process of obtaining a Greek charter licence, which involves establishing a Greek company for non-EU flagged yachts or a Branch Office of the owning company for EU flagged yachts. The Greek charter licensing process will remain the same for those yachts wishing to charter for unrestricted periods of time in Greek waters.
Instead, the appointment of a tax representative will be required, as well as payment of the applicable VAT and a special ‘Fee for a Commercial Yacht Recognised under the Law of Another Country’ (TEPADAH). TEPADAH is calculated per charter party and for the total number of charter days performed within the Greek territory.
This exciting news means yachts previously unavailable can now be booked for three-week charters in the Cyclades, Dodecanese and Ionian islands, visiting Greece’s most famous ports of call such as Santorini, Mykonos, Athens, Skiathos and Ithaca.