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By George Bains 04 Mar 2021
Thailand is set to become the latest country in the Asia Pacific region to open up to the charter of foreign flagged superyachts. It has been agreed that foreign-flagged vessels will no longer have to pay VAT on the value of their vessel when entering the country, and it is expected that an official announcement on charters will follow shortly.
Under the current arrangements, charters beginning in Thailand must terminate in another country, with many heading from Thailand to Langkawi, Malaysia. The proposed new legislation would allow superyachts to stay and enjoy the immaculate cruising grounds of Thailand, encouraging more owners to station their yachts in the country.