Montenegrin company Yu Briv has won the tender for the construction of Porto Montenegro superyacht marina’s second phase, comprising both the expansion of existing jetties as well as the construction of further jetties, following the designs of Marina Projects from the UK, top experts in the field of superyacht marina design. The completion of works is planned for spring 2014.
Porto Montenegro Superyacht Marina situated in a beautiful Mediterranean yacht charter destination - Montenegro
Over the next two years Porto Montenegro will complete “Phase II” of its development. The 50% of this phase II berth places will be for yachts up to 20 meters and 145 berths will be for yachts over 25 metres. Upon completion Porto Montenegro will not only be one of the largest yachts port on the Med but – with more than 50 of the new berths over 45 metres – it will also have one of the biggest superyacht capacities in the world. The second phase includes in particular the expansion of jetties 1, 2 and 3; the construction of a jetty parallel to jetty 4, and a new bunkering jetty.
“We are very pleased to award our marina expansion contract to one of the leading Montenegrin construction companies, Yu Briv. We have had excellent cooperation with them in the past and know they will deliver a world class quality marina reinforcing Porto Montenegro as one the leading marinas on the Mediterranean”, said Porto Montenegro’s Managing Director Oliver Corlette, adding that the marina would have 470 berths upon completion of the second phase.
“It is a great pleasure to be part of this project and participate in the construction of the most important high-end nautical destination of nowadays on the Mediterranean. This is a prestigious acknowledgement not only for our company, but also for our business partners involved in design and construction. We are certain to prove that Montenegrin construction companies can successfully implement the most complex of construction projects”, Yu Briv Director Jovan Bujkovic stated.
Tony Browne, Marina Director refers: “the expansion of the marina is not only a testament of success of Porto Montenegro, it’s also confirms the Adriatic has cemented itself as an exciting destination for yachts of all size and class. The new berths mix will appeal to all ends markets especially for super and mega-yachts soon supported from a state-of-the-art maintenance&refitting new facility.”
2013 01 Jetty at Porto Montenegro Superyacht Marina
Porto Montenegro – a surprising value for money location
Modern Montenegro is a stable democracy with an investor-friendly economy, Euro currency and maximum of 9% income, company and capital gains tax. Porto Montenegro offers surprising value for money both in terms of pricing and tax benefits.
The Montenegrin tax strategy is geared towards a national, uniform system that treats everyone equally. Yacht-friendly laws have been implemented, illustrative of the government’s desire to promote the growth of nautical tourism in the country. With the rate of tax applied to basic goods and marina services already capped at just 7%, the plan for the future is to create an incentivised flat tax regime across all taxable areas.
Key tax rates:
– Tax applied to basic goods and marina and tourist services capped at 7%
– VAT currently stands at 17%
– Legal and Administration Fees are between 500-1000 €
– Income Tax is 9%
– Corporate Income Tax is 9%
– Rental Income Tax is 9%, subject to automatic deduction of 30% based on costs
– Property transfer tax is 3%
– No capital gains tax on resale or transfer of property
– Competitive customs duty
