Before proceeding further please read the important regulatory information and disclaimers at the bottom of the page. Savings and Financial investment services are the sole services Regulated by the Financial Services commission in Gibraltar.

Money Matters

When it comes to finance you should be prudent and careful. Thats why here at How2Yacht Financial Services we give you a range of solutions for you to choose from; Empowering Informed Choice.

We don’t work for any banking institution or investment corporation, we simply give you unbiased options and advice. We delegate resolution of financial matters to professionals from the world of finance.

International Multi-Currency Bank Accounts

A unique current account which can be applied through How2Yacht. Our Seafarer Accounts have a low minimum balance, no minimum income requirement and offers free electronic payments*. Combined with an optional Visa debit card and secure 24 / 7 internet banking, our Seafarer Accounts put you in control wherever you are in the world.

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Foreign Exchange

Moving money between currencies using an FX broker will save you a considerable amount of money. Here are some questions to consider:

  • Are you about to, or do you, make foreign exchange transfers?
  • Do you need to convert Euros into Dollars, Dollars into Euros, Why pay the banks such a large margin (on average 3%)?
  • Do you need to transfer from one currency to another at the end of each yacht season?
  • Are you a person who does regular transfers back home to service a mortgage or top up your savings account?
  • Do you want to transfer funds from one currency to another to make a deposit on a property?
  • Do you want to transfer so that to save money in just one currency?

moneycorp

FX brokers can facilitate currency transactions as can Banks. Whether you choose bank or broker, both have ways of charging for the service.

  • Banks in many cases charge for transfers. They also take a percentage known as a margin between the buy and sell rates.
  • FX brokers usually have a fee for their services and can also take a margin between the buy and sell rates.
  • First you need to open an account with the broker. It can take a day or two to open an account.
  • You can choose to send money abroad using the current exchange rate, or you can book a rate – this is known as a ‘forward contract’ to lock-in the exchange rate for a future trade. Some FX brokers can deal with regular transfers abroad.

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Savings & Investments

Crew and captains have a tendency to accumulate significant savings.

Question is where to keep it and how to save it both from inflation and currency risks, as well as how to make your savings grow.

Did you know that in the current financial environment where interest rates are close to zero (some banks even have started to charge for deposits) and high inflation, money you have in the account is actually loosing value.

Our survey has shown that most crew do not have sufficient savings when they retire to provide for themselves.

To help you with this we selected a company who has been around for more than 30 years providing financial advice. Their company has offices in various countries, is highly regulated, has very good reputation and qualified financial advisors with extensive experience in assisting superyacht industry professionals.

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Pre-Paid Cash Cards

What are cards?

The payment card industry denotes the debit, credit, prepaid, e-purse and other cards under different brands like VISA, MASTERCARD, CIRRUS/MAESTRO, EUROCARD, AMERICAN EXPRESS, DINERS CLUB for example.

Beyond that there are cards and e-wallets issued by businesses which can be used to pay for their services as well physical Gold/Platinum cards.

What are Prepaid cards?

A prepaid card is a payment card that is loaded with money by you or someone else. A prepaid card looks just like any normal credit or debitcard, with a card number, signature strip and company branding. But prepaid cards do not provide you with a line of credit like credit cards. Even though it’s called a debit card, a prepaid debit card is very different from a bank account debit card. A bank account debit card is linked to your current account; a prepaid debit card is not. Instead, you pay in advance to load funds onto a prepaid card, and then use the money you have loaded onto the card. In most cases, you can’t spend more money than you have already loaded onto your prepaid debit card, but with bank account debit cards, if you opt into your bank’s overdraft service, the bank may cover the cost of a purchase that exceeds what you have in your account, and charge you a fee (as well as requiring you to repay the overdraft.) Since it is not linked to the current account, it is very expensive to transfer funds out of card, you have to spend those. Fees are also a bit higher than for standard debit card – there could be % fees for loading card and for payments with card.

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International Mortgages

We are able to assist with applications for mortgages in France, UK, Spain, New Zealand, as well as many states in Australia, USA and Canada. We understand the complications of applying for a mortgage as a seafarer.

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Residential & Tax Reviews

If you would like to know a bit more about your tax responsibilities. There are two ways we can go about this. Option one is to complete one of our questionnaires and we can review and revert.

Alternatively, If you prefer, follow the link below and you will find a number of tools to help you assess your circumstances, and by doing so our partners at Marine Accounts will be able to pick up on any matters which may need attention.

Alongside that, if you are a UK tax resident and are employed aboard a ship operating outside UK waters you may qualify for reduction in your income tax subject to UK tax, known as the Seafarer’s Earnings Deduction (SED).

http://how2yacht.com/essentials/experienced-crew-essentials/residency-and-tax/

If you need any assistance from us along the way, please do not hesitate to ask, we are here to help.

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Private Banking

We can showcase a number of Private Banks and asset managers to you. We can provide in depth comparisons on the banks themselves and their fee structures. Plus we offer insight on the advisors themselves and guide you through the application process every step of the way.

Our relationships are not with banks as institutions. We select and work with best individuals representing particular banks who we have great relationship with and who are looking after our clients as their own.
For senior crew who have just joined us and already have an existing portfolio we can offer our Portfolio review repair and refit. Your investment will go through the equivalent of a full sea trial performed by top industry professionals from the most recognised and respected financial institutions. They will come back to you with a no obligation review of their findings. Perhaps your portfolio is in need of an engine overhaul, or worse still, a full refit? Maybe it’s shipshape and no action is needed, but the real value is in the review. What have you got to loose?

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Yacht Corporate Account

We have the perfect solution; A corporate account developed specifically for yachts, one that understands the industry and works with it, not against it.

Services on offer include;

  • simple international / offshore set up (no issues in opening accounts for offshore registered companies)
  • provide tailored services – access to online banking and phone 24/7, international transfers
  • offer internationally accepted credit cards
  • offer business overdraft for international needs
  • offer deposit accounts with attractive interest rates and multiple currencies
  • provide international commercial lending/mortgages
  • have personnel speaking in English and familiar with international businesses

International banking can be set up in different jurisdictions. Some of our most popular for European based businesses are Gibraltar, Malta, Cyprus, Latvia, Luxembourg. For offshore businesses we also offer banking in Belize, St Grenadines, Bermuda, Singapore, Seyshelles, Mauritius, Cayman and others.

We can provide information on the whole range of banking services including:

Our relationships are not with banks as institutions. We select and work with best individuals representing particular banks who we have a great relationship with and who are looking after our clients as their own.

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Yacht Finance

How 2 finance a yacht? How 2 get financing for a superyacht purchase? How 2 to do equity release? How 2 find the best bank offering yacht finance?

We have access to the most prestigious banks in the market in the very small world of yacht finance. We guide you through the process, from start to finish.

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Disclaimer:
Our Savings and Investments services solely are regulated by the Financial Service Commission in Gibraltar and it is to those services only which this disclaimer and information applies.
The financial advisers trading under How2Yacht Financial Services/BFMI are members of Nexus Global (IFA Network). Nexus Global is a division of Blacktower Financial Management (International) Limited (BFMI). All approved individual members of Nexus Global are Appointed Representatives of BFMI. BFMI is licenced and regulated by the Gibraltar Financial Services Commission (FSC) and bound by the rules under licence number FSC00805B.
Nexus Global
Nexus Global specialises in providing a regulatory platform and compliance support to international financial advisers and intermediaries to enable them to meet the regulatory requirements of EEA (European Economic Area) financial regulators and to provide their clients with a professional service.
The intermediaries Nexus Global represent, provide face to face advice and specialise in meeting the financial needs of people or companies that have created more capital, or who earn higher incomes, than average, and whose circumstances are therefore more complicated than usual.
nexus
www.nexus-global.net
Regulated By
All approved individual members of Nexus Global are Appointed Representatives of Blacktower Financial Management (International) Limited (BFMI). BFMI is licensed and regulated by the Gibraltar Financial Services Commission (FSC). 
The Financial Services Commission regulates the financial services industry in Gibraltar. The FSC supervises a broad range of firms including: auditors, banks, company managers, e-money institutions, professional trustees, payment services providers, funds and fund service providers, insurance companies, managers and intermediaries, investment firms, and insolvency practitioners.
http://www.fsc.gi/regulated-entity/blacktower-financial-management-international-limited-3647
Complaints Procedure
It is important that we hear any concerns you have regarding the services we offer.
Should you have a complaint we ask that you inform Nexus Global Head Office in the first instance. Head Office will then review and make contact with the relevant office. If you have already spoken to someone regarding your complaint, please include their name in your correspondence as this will assist in your complaint being answered more promptly. Complaints can be emailed to complaints@nexus-global.net or you can also write to:-
Nexus Global
Suites 34 & 43 Victoria House
26 Main Street
POBox 1354
Gibraltar
Nexus Global will endeavour to respond to all complaints within 14 days of receipt.
If you do not feel that your complaint has been resolved satisfactorily by Nexus Global, you may refer the matter to the Financial Services Commission, P.O. Box 940, Suite 3, Ground Floor, Atlantic Suites, Europort Avenue, Gibraltar.
It is useful for the FSC to be aware of complaints against firms it supervises. The FSC has no statutory powers to neither undertake the role of an ombudsman in respect of complaints nor act as arbitrator in commercial disputes
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