As Greece and Italy struggle to take control of their national debt crises by, amongst other things, taxing yachts, Porto Montenegro the marina complex inside the Bay of Kotor has been quick to respond.
A Press Release issued by them says that as a result yacht owners are now seeking alternative arrangements outside of Italian waters.
VAT in Montenegro is capped at 7% on marine-related and tourist services, while there is a maximum of 9% VAT on capital gains, income and company tax, meaning the financial case for choosing Porto Montenegro as a homeport is a powerful one.
The marina also offers tax and duty free fuel for private and commercial vessels.
Yachts may remain in Montenegrin waters with no time restrictions or imported tax requirements.
A vignette system also allows for multiple entries and changes to crew and passenger manifests with little fuss.