Expat's Guide to Buying a Yacht in Singapore
Singapore is a premier yachting destination with world-class marinas, a thriving boating community, and easy access to regional cruising hotspots. If you're an expat considering yacht ownership in Singapore, here’s what you need to know.
1. Understanding the Yacht Market in Singapore
Singapore’s yacht market offers a wide range of vessels, from compact sailboats to luxury superyachts. New and used yachts are available through brokers, private sales, and dealers.
Where to Buy
Yacht Brokers – Established brokers like Simpson Marine, Asia Yachting, and ProMarine Yacht Sales provide a variety of new and used boats.
Private Sales – Websites like YachtWorld and Boat Lagoon Yachting list private yacht sales.
Dealerships – Official dealers for brands like Princess Yachts, Ferretti, and Sunseeker offer new yachts with after-sales support.
2. Legal Considerations & Registration
Singapore has clear yacht ownership regulations that expats must adhere to:
Ownership Eligibility – Expats can own yachts in their name or through a Singapore-registered company.
Registration Process – Yachts must be registered with the Maritime and Port Authority of Singapore (MPA).
Marine Insurance – Mandatory insurance covering liability, damage, and theft is required.
Goods and Services Tax (GST) – A 9% GST applies to new yacht purchases, though some vessels may qualify for temporary importation exemptions.
3. Mooring & Berthing
Marina berths in Singapore are in high demand, and securing a spot is an essential step in yacht ownership.
Top Marinas
ONE°15 Marina Sentosa Cove – A prestigious full-service marina with excellent facilities.
Raffles Marina – A private marina with club membership and access to the Johor Strait.
Marina at Keppel Bay – Offers world-class amenities and a prime location.
Republic of Singapore Yacht Club (RSYC) – One of Singapore’s oldest marinas, with berthing options for members.
4. Costs & Maintenance
Beyond the purchase price, yacht ownership involves ongoing expenses:
Mooring Fees – Depending on yacht size and marina, berthing fees range from SGD 1,000 to SGD 10,000+ per month.
Maintenance & Servicing – Routine servicing, hull cleaning, and engine maintenance can cost 5-10% of the yacht’s value annually.
Crew & Management – Larger yachts may require a professional crew, and yacht management services are available.
5. Financing & Insurance
Yacht Financing – Some Singaporean banks and marine finance companies offer yacht loans.
Insurance Requirements – Comprehensive insurance is required, covering damage, liability, and environmental risks.
6. Yacht Licensing & Regulations
Pleasure Craft License – If you plan to operate the yacht yourself, you must obtain a Powered Pleasure Craft Driving License (PPCDL) from the Singapore Maritime Academy.
Safety Regulations – The MPA requires yachts to comply with safety standards, including life-saving equipment, fire extinguishers, and navigation aids.
7. Exploring the Waters
Once you own a yacht, Singapore offers incredible cruising opportunities, including:
Lazarus Island & St. John’s Island – Popular weekend boating destinations with pristine beaches.
Southern Islands – A cluster of scenic islands perfect for short getaways.
Tioman & Riau Islands (Indonesia) – Accessible from Singapore, these destinations offer crystal-clear waters and excellent diving.
Buying a yacht in Singapore as an expat can be a fantastic lifestyle investment, offering unparalleled access to beautiful waters and a vibrant boating community. By understanding the yacht market, legal requirements, and operational costs, you can ensure a smooth and rewarding yacht ownership experience.
