Yacht VAT in Greece, explained.

The short version

Greece applies 24% FPA (VAT) on new yacht sales and on all yacht-related services, marina fees, fuel, parts, and repairs — one of the highest VAT rates in the EU. Used yachts sold between private parties do not re-trigger FPA if they are already EU-VAT-paid. The buyer pays only a modest Greek Ship Registry fee (€200–€800) at registration — there is no equivalent of Croatia's 5% transfer tax or Spain's 4% ITP.

The defining FPA structure in Greece is the NEPA (Naftiliaki Etaireia Plon Anapsihis) — a Greek single-vessel maritime company used to hold yachts operated commercially for charter. The NEPA reclaims FPA on the original yacht purchase through its commercial FPA registration. NEPAs are sold either as share sales (FPA-free, but buyer inherits company history) or as asset sales (24% FPA applies to the asset transfer). This is the single most important tax mechanic in the Greek charter market.

Non-EU-flagged yachts owned by non-EU residents can stay in Greek waters for up to 18 months under Temporary Admission (TA) without paying FPA. Private yacht owners cannot reclaim FPA on ownership expenses; only commercially operated yachts (typically NEPA-held) can. This guide covers all of it in practical detail.

FPA: what it applies to

FPA (Foros Prostithemenis Aksias) is Greek VAT. The standard rate is 24% — applied to virtually every transaction in the Greek yacht economy: new yacht sales, marina berth fees, fuel, engine service, electronics, brokerage commissions, charter bookings, sail repairs, haul-outs, surveys, and chandlery purchases.

This 24% line item is the single biggest reason Greece is more expensive per service than non-EU competitors like Turkey or Montenegro, despite lower baseline Greek labour costs. A €10,000 engine rebuild is a €12,400 engine rebuild once FPA is added. Prices quoted by Greek yacht businesses are required by law to be FPA-inclusive on consumer-facing invoices, but B2B and yard quotes often exclude FPA — always confirm whether FPA is included before signing.

FPA is charged and remitted by the service provider. As a private yacht owner, you pay it on the final price; you don't remit anything to AADE (the Greek tax authority) directly. The exception is if you operate the yacht commercially through a NEPA, in which case you become an FPA-registered entity yourself (covered below).

EU-VAT-paid status

"EU-VAT-paid" is the most important phrase in yacht ownership in the EU. A yacht has EU-VAT-paid status when VAT was paid at its original import into or sale within the EU. That status stays with the yacht through subsequent ownership changes, provided the yacht remains in EU waters and the paperwork survives.

An EU-VAT-paid yacht can be sold between two EU residents without triggering new VAT — the Greek buyer pays only the modest Ship Registry fee. The yacht can sail freely between EU countries (Greece, Italy, France, Spain, Croatia, Slovenia, Cyprus, Malta) without customs clearance.

A yacht loses EU-VAT-paid status when it leaves EU waters for an extended period (generally more than three years), when it's sold to a non-EU buyer and exported, or — most commonly in practice — when the paperwork proving paid status is lost. The latter is the most frequent catastrophe in European yacht ownership: the yacht is EU-VAT-paid, but the owner can no longer prove it, and a buyer's lawyer refuses to close the sale.

Registry fees, not transfer tax

Unlike Croatia (5% transfer tax) or Spain (4% ITP), Greece does not apply a transfer tax on used-yacht registration. The buyer pays only a Greek Ship Registry fee of €200–€800 depending on yacht length and the specific Port Authority. This is one of the structural advantages of Greek-flagged ownership and a reason many Mediterranean buyers prefer to register in Greece over neighbouring jurisdictions.

What the registration covers

The Greek Ship Registry entry records the yacht's identification (HIN, engine numbers, length, flag, owner), the FPA-paid status, and any liens or encumbrances. Registration is administered by the local Port Authority (Limeniko Soma) under the central authority of the Hellenic Coast Guard. Piraeus, Lavrio, and Lefkas handle the majority of yacht registrations.

The transfer process

On a sale, the existing Greek Ship Registry entry is amended to reflect the new owner. The seller's TEPAI must be cleared up to date before the registry will process the transfer — this is the most common closing-day surprise for sellers who have under-declared TEPAI. Allow 1–3 weeks for the registry to process the transfer; this is faster than France, Italy, and Spain.

The NEPA FPA reclaim: how the structure works

This is the most important section in this guide if you are buying, selling, or operating a Greek charter yacht.

What a NEPA is

A NEPA (Naftiliaki Etaireia Plon Anapsihis — Maritime Company for Pleasure Vessels) is a Greek single-vessel company structure created specifically for holding pleasure yachts operated commercially under a Greek charter license. Historical Greek charter law required commercial yachts to be Greek-owned; the NEPA was created to provide a streamlined corporate form. A typical NEPA owns one yacht, has one shareholder (often a foreign individual or holding company), and exists solely to hold and operate that yacht commercially.

How the reclaim works at purchase

You set up a NEPA (or buy into one already established by a charter operator). The NEPA purchases the yacht through its commercial FPA registration. The headline yacht price is, say, €350,000 — that is €282,250 net + €67,750 FPA. The NEPA pays €350,000 to the manufacturer and reclaims the €67,750 FPA as input VAT against future charter revenue. Your net acquisition cost (capital committed) is therefore the €282,250 net, plus NEPA setup costs (typically €3,000–€8,000).

In exchange, the yacht must operate commercially for charter under the NEPA for several years to justify the FPA reclaim against actual charter revenue. The exact period required to avoid clawback varies with Greek tax practice and the NEPA's specific FPA-reclaim mechanism, but five years of commercial activity is the practical benchmark most NEPA accountants work to.

How the FPA unwinds at sale

When you eventually sell the NEPA-held yacht, three structural options exist:

• Share sale. You sell the NEPA shares to the buyer. The NEPA continues to own the yacht. No FPA applies — share sales of EU companies are VAT-exempt. The FPA reclaim stays in place. Buyer inherits the NEPA's full corporate and tax history.
• Asset sale, commercial continuity. The NEPA sells the yacht to a buyer who continues commercial charter operation through their own structure. FPA is charged on the sale price but reclaimable by the buyer; net effect is neutral.
• Asset sale, private use. The NEPA sells the yacht to a private-use buyer. FPA at 24% applies to the sale price — embedded in the asking price or charged separately. On a yacht selling for €180,000, that is €43,200 FPA. The buyer's all-in cost is €223,200.

Why this matters for buyers

When you're buying a NEPA-held yacht as an asset sale to private use, the single most important question to ask is: "Is the asking price FPA-inclusive or FPA-exclusive?" A €180,000 NEPA asset sale with FPA embedded is a €180,000 yacht. The same yacht with FPA charged separately at closing is a €223,200 yacht. Sellers and brokers occasionally describe their pricing ambiguously to make it look more competitive. Get the answer in writing before negotiating.

Why this matters for sellers

When you're selling a NEPA-held yacht, decide in advance which exit structure you're targeting and price accordingly:

• For share-sale buyers — price reflects no FPA exposure. Discount of 5–10% versus FPA-exclusive asset-sale price to compensate buyer for inheriting NEPA history.
• For asset-sale commercial-continuity buyers — price net of FPA; FPA charged and reclaimed by buyer.
• For asset-sale private-use buyers — embed FPA in asking price, or be explicit that the price is FPA-exclusive. Don't try to obscure this; sophisticated buyers will see through it and walk.

Get the team involved 12–18 months ahead

A NEPA exit done well saves €30,000–€80,000 in unnecessary FPA exposure on a typical 42–46ft yacht, or unlocks 10–20% additional sale value through the right buyer-pool positioning. The structuring decisions happen 12–18 months before the actual sale. Find a Greek maritime accountant and lawyer with NEPA exit experience and start the conversation early.

Share sale vs asset sale: the structural choice

The share-versus-asset decision is the single most consequential choice in a Greek NEPA transaction. Here's the practical framework.

The decision rests on the buyer's use plan and risk tolerance. Commercial charter buyers continuing operations almost always prefer share sales — the operational continuity is the whole point and the FPA saving funds the due diligence and acceptable risk. Private-use buyers almost always prefer asset sales — the FPA cost is real but the corporate-liability inheritance is worse.

Temporary Admission regime

Temporary Admission (TA) is the EU customs regime that allows non-EU yachts, owned by non-EU residents, to stay in EU waters without paying import VAT. It's designed for yacht owners from the UK (post-Brexit), Switzerland, the US, and other non-EU jurisdictions who cruise Greece seasonally.

How it works in Greece

The yacht is formally entered into TA at an EU customs port. Greece's main customs entry points for yachts are Piraeus, Lavrio, Corfu, and Rhodes. Once in TA, the yacht can stay in EU waters (including Greek waters) for up to 18 months without paying the 24% Greek FPA that would otherwise be due on import. Before the 18 months expire, the yacht must leave EU waters; a fresh TA period can begin upon return. Common reset trips from Greece: a brief passage to Turkey (Kusadasi, Bodrum, Marmaris), Albania, or — for Ionian-based yachts — Montenegro.

Who qualifies

TA requires both the yacht and the owner to be genuinely non-EU. Non-EU-flagged yachts owned by an EU resident do not qualify. Yachts owned by companies where the ultimate beneficial owner is an EU resident do not qualify. Greek customs authorities (Telonia) have been increasingly aggressive in challenging thinly-veiled structures.

The risk of overstaying

A yacht that overstays TA without a valid extension can be assessed Greek FPA (24% of hull value) plus penalties. On a €500,000 yacht, that is €120,000 plus penalty interest. Greek customs audit marinas in Athens, Lefkas, Corfu, and the islands during summer months. Don't cut it close — if your 18-month TA clock is running down, plan the reset trip in advance.

Post-Brexit UK considerations

UK-flagged yachts owned by UK residents are now non-EU and qualify for TA. The post-Brexit cohort of UK yacht owners cruising Greek waters has grown significantly since 2021. UK-flagged yachts that were in EU waters before 1 January 2021 with continuous EU-VAT-paid status during the transition period may qualify for EU-VAT-paid treatment rather than needing TA — but the paperwork must be precise and the analysis fact-specific. Take advice.

FPA on buying and selling

Buying a new yacht from a Greek dealer

24% FPA applies on the full purchase price, collected by the dealer and remitted to AADE. The dealer issues an FPA-paid invoice. Cleanest situation: FPA is obvious, documented, and unambiguous.

Buying a used yacht from a private Greek seller

No FPA — only the modest Greek Ship Registry fee at registration. The seller should provide the original FPA-paid documentation. If they can't, don't close until they reconstruct it. A missing FPA certificate on a used yacht is a red flag and can expose you to future FPA assessment if Greek customs later question the yacht's status.

Buying a NEPA share sale

No FPA. You acquire the NEPA shares; the NEPA continues to own the yacht. Critical step is corporate due diligence on the NEPA — see the share-vs-asset section above.

Buying a NEPA asset sale

The FPA question dominates. Embedded or charged separately? For commercial continuity, FPA is charged and reclaimed (neutral). For private use, FPA is the buyer's net cost. Always confirm in writing before negotiating.

Selling your yacht

See our dedicated guide to selling a yacht in Greece. Short version: keep your FPA documentation safe, decide your buyer-pool strategy (commercial-continuity vs private-use), structure the NEPA exit accordingly.

Selling to a non-EU buyer

A sale that includes export of the yacht outside EU waters can potentially reclaim the FPA paid at original purchase. Complex and requires proper export documentation. Worth structuring properly with a Greek maritime lawyer on transactions of meaningful size.

TEPAI and FPA on charter

TEPAI for private yachts

TEPAI (Telos Plon Anapsihis kai Imerision Skafon) is the Greek cruising tax on private pleasure yachts, charged monthly based on hull length. It is separate from FPA — TEPAI is a usage tax on private cruising, FPA is VAT on commercial transactions and services. Indicative TEPAI rates: 12m yacht €100/month, 15m yacht €150–€200/month, 20m yacht €500/month. Paid through the AADE online portal for the months the yacht is in use in Greek waters.

Commercial charter taxes for NEPA-held yachts

NEPA-held yachts in commercial charter pay a different regime — a per-day-of-charter tax that replaces TEPAI for the days the yacht is on charter. The NEPA also charges 24% FPA on charter income to clients, and reclaims FPA on charter-related expenses (marina, maintenance, fuel, crew, supplies). NEPA accounting is monthly and audited; most NEPAs use specialist Greek marine accountants.

Reclaiming FPA on NEPA expenses

NEPA charter operations can reclaim 24% FPA on charter-related expenses. On a yacht with €60,000/year in operating costs, that is potentially €11,600 in reclaimable FPA annually. This is one of the structural advantages that makes NEPA economics work despite the 24% FPA on operating expenses.

FPA documentation: what to keep and where

The single most expensive mistake in Greek yacht ownership is losing FPA documentation. A yacht that is EU-VAT-paid but cannot be proved to be EU-VAT-paid takes months and several thousand euros to rehabilitate. Here is what to keep.

The core FPA documents

• The original FPA-paid invoice from the manufacturer or original importer.
• The customs entry document (T2L equivalent) issued by Greek customs or the customs authority of the original-purchase country.
• The Greek Ship Registry certificate (nautilologion) showing the yacht's history in the Greek flag, where applicable.
• NEPA corporate records where applicable — incorporation documents, share register, annual GEMI filings, FPA-reclaim documentation, monthly FPA returns, charter logbooks, tax-clearance certificates.
• TEPAI payment records for every month the yacht operated in Greek waters as a private vessel.

How to store them

Scan everything the day you receive it. Store copies in at least three places: encrypted cloud storage, an encrypted local drive, and a physical backup with your Greek maritime lawyer. Most Greek maritime lawyers keep client FPA documentation on file as a service. When you sell, provide certified copies and keep the originals.

Reconstructing lost documentation

If FPA documentation has been lost, reconstruction is possible but slow and expensive. The AADE will issue replacement certificates if the original FPA payment can be traced through their records. NEPA records are filed with GEMI and can be retrieved through corporate searches. Plan €4,000–€12,000 in legal and accounting fees and 2–6 months of elapsed time to reconstruct a clean FPA history.

Frequently asked questions