The aviation industry will turn its attention to NBAA’s Business Aviation Convention & Exhibition when it returns to Orlando, Florida from 16 – 18 October 2018.
NBAA-Bace is one of the premier events for the business aviation community. This event brings together key aviation contacts from around the globe, including current and prospective aircraft owners, manufacturers and advisors.
NBAA-BACE will feature over 1,000 indoor exhibitors and with 25,000 business aviation professionals, the event is one of the largest events in the aviation sector.
Along with EBACE which was held in Geneva, Switzerland in May 2018 NBAA-Bace is a key event for Affinity’s aviation team. The show presents us with an opportunity to meet with both existing and potential clients. With Affinity having recently assisted several AOC’s in relocating their operations to Malta, we are expecting to generate further interest in this area in addition to our offering to single aircraft.
Please contact Andrew Morgan if you happen to be attending the event.
The superyacht industry will turn its attention to the Monaco Yacht Show when it returns to Port Hercules for its 28th edition from 26 – 29 September 2018.
Affinity will once again be in attendance for the industry’s flagship event.
This year the Company will be represented by Patricia Slavin, Andrew Morgan, Chris Stewart and Lynda Plaskett in what will be the Company’s 14th consecutive year of exhibiting.
2018 has been a challenging year for the yachting industry from the changes to various lease structures and the uncertainty of Brexit to crew employment and social security issues, these are interesting times for the marine industry.
Our team has a wide understanding of these issues, and would be happy to chat through any questions or concerns that you may have.
Should you wish to arrange a meeting, please contact Patricia, Andy, Chris or Lynda in advance of the show or alternatively pop by and see us at stand QS32 in Darse Sud.
We look forward to meeting up with clients and intermediaries both old and new.
Ever since the announcement of the potential need to affiliate Seafarers in France with ENIM or to a private insurance scheme, there has been an ongoing need for clarification on certain crucial aspects.
An update from the Director of ENIM issued last week, seeks to clarify some of these issues.
Clarification on the meaning of “residency on French territory”:
One of the qualifying criterion was that the Seafarer was resident in the French Territory “in a stable and regular manner”. This has now been clarified as:-
So for Seafarers without a household in France, the key consideration is going to be the time that they spend in France. This will essentially be determined by the presence of the vessel in French waters. The six month period does not need to be continuous.
Special rules for vessels undergoing periods of refit or other works during which the vessel is not in use or in a shipyard.
The period of time that a vessel is laid up or immobilised for refit, repair or other works does not count towards the six month time period in France.
Seafarers who do have a household in France will still have an obligation to be affiliated.
Concept of “cover equivalent to article L.111-1 of the French Social Security Code”.
It is still accepted that private insurance is an option, provided that it covers all the branches of Article L.111-1 of the French Social Security Code. However ENIM will not proactively monitor the coverage offered by the previously approved companies. So it is very much still the responsibility of the Seafarer to ensure that the cover is sufficient.
Today marks the 10 year anniversary of Andrew Morgan joining Affinity!
All of us here would like to congratulate Andy on reaching such a major career milestone.
Andy joined the company in 2008, and was promoted to the Board in March 2012.
He has been instrumental in the development of the growth of the business over the past 10 years. He continues to oversee client relationships and strategic development of our services both in the Isle of Man and Malta offices.
We are now running our crew payroll offering in Malta, through our dedicated Maltese crew employment vehicle Mariners & Seafarers (Malta) Limited (“M&S”)
We established M&S in light of the various issues surrounding crew employment within the EU, particularly with regard to the regularisation of crew social security.
M&S can provide MLC compliant SEA’s as well as a route to crew Social Security registration and contributions in Malta.
Our dedicated payroll software is able to keep track of all aspects of crew employment, including primary and secondary social security contributions, certification monitoring, holiday records etc.
If you would like more information on these services please contact Chris Stewart on email@example.com
Affinity (Malta) Expands
Following a significant period of growth, Affinity Management Services (Malta) Limited have recently relocated to Tower Street, Swatar. The office, located at Level 2 Progetta House, Tower Street is to accommodate the Company’s sustained growth over the past eight years.
Affinity are forecasting continued growth in the Aircraft and Yachting services in Malta and have added additional personnel to handle their recent growth.
Affinity (Malta) is an independently owned fiduciary services company which was formed in 2010 and is authorised by the Malta Financial Services Authority. The Company is a sister Company to the Isle of Man organisation which was formed by Managing Director, Patricia Slavin, in 2004.
Affinity Malta, with its accreditation to the Identity Malta Agency, is also able to assist clients with the Malta Individual Investor Programme.
Having offices in both Malta and the Isle of Man allows Affinity to provide a wide variety of Corporate and Trust solutions.
Whilst specialising in yacht and aircraft ownership and operational structures, Affinity also provides services for clients in I-gaming, property and investment holding.
Commenting about the expansion Managing Director Patricia Slavin said that “We are delighted to have relocated to an office which will serve our needs over the years ahead. The office offers additional space and comfort for our staff and allows for our projected growth over the years ahead. Locating the business from Swatar allows the business to thrive in an already flourishing local business community”.
The new office contact details are shown below.
We are delighted to announce that we have joined the Asia Pacific Superyacht Association. We are looking forward to developing new business ties in conjunction with their hard working team and members.
The European Commission opened infringement procedures against Cyprus, Greece and Malta in relation to the VAT treatment of yacht leasing operations earlier this month.
As part of the general drive by the Juncker Commission, lead by Pierre Moscovici, to investigate tax disparities within the European Union, the mechanism for levying of VAT on yachts in these jurisdictions has been seen as contentious.
The three Member States now have two months to respond to the arguments put forward by the Commission. If they do not act within these two months, the Commission may send a reasoned opinion to their authorities.
As we provide a number of Malta leasing arrangements to our clients, we are monitoring this situation closely. We understand that the Malta Authorities will issue a robust defence of their stance on the yacht leasing.
For the time being, any existing leases remain valid and within the parameters of current legislation. Any leases which are due to commence may still do so, until such time as there are any legislative amendments.
We shall continue to update our clients and intermediaries of any developments. Please contact us if you need any further advice or assistance.
14 March 2018
Affinity Management Services Limited is pleased to announce its recent membership to HLB International (“HLB”).
HLB is a leading worldwide network of independent professional accounting firms and business advisers. Formed in 1969, HLB services clients through its member firms in 140 countries, their 2,210 partners and 20,110 staff in over 660 offices worldwide. Member firms are well-established locally with many firms ranked among the top twelve nationally.
HLB is a member of the Forum of Firms and focuses on quality and personal service, reinforced by regular quality assurance reviews of all member firms, an up-to-date ISA compliant international audit manual and membership of external professional bodies focused on quality issues.
Patricia Slavin, Founder and Managing Director of Affinity Management Services Ltd, commented: “We look forward to expanding further into the international market and to ensure our clients continue to receive the exceptional service they expect.”
Affinity Management Services Ltd, with its cross-border business, will work closely with other HLB members, in particular in the UK, Channel Islands, Ireland and the Caribbean, and makes a great addition to our global coverage.