Thailand Government Approves New Superyacht Charter License

Seal Superyachts Thailand Yacht Agent Foreign Charter License 1

The Thailand Government has approved regulations that will allow foreign flagged yachts and superyachts permits to operate charters within Thai waters, clearing the way for a boost to the local superyacht industry.

The new licenses, which are to be issued by the Ministry of Transport (MOT), must be applied for through an appointed Superyacht Agent in Thailand before arrival.

Yachts must be larger than 30 metres in length, and have full hull and third party liability insurance. A maximum carrying capacity of no more than 12 guests has been stipulated.

Applications can be made from next month onwards (July 2015), with the issue of permits commencing in September or October. Processing is expected to take around 30 days, and the license will be valid for 12 months from the first arrival date of the vessel.

The government expects that the new license will generate a considerable economic impact for Thailand, allowing for the creation of new jobs, and investment in infrastructure such as new marinas and facilities.

The country will also gain from the indirect growth of the industry through ancillary spending and related tourism. This follows earlier statements made by the Thai government expressing the desire to make Thailand a “Superyacht Hub for ASEAN”.

Adam Frost, Managing Director of Seal Superyachts, SE Asia’s oldest established Superyacht Support Agency, servicing the yacht and superyacht industry since 1991 said, “This is an important decision for the (Thai) government, and the broader superyacht industry. Thailand is clearly extending a warm welcome to Superyacht owners, with only a bare minimum of restrictions to be placed upon them if they wish to operate their charters here.”