Procedure

HOW TO APPOINT

The mandate for Yacht Welfare to act as your Fiscal Representative for Italy is done by mean of a relevant form called FRAF (acronym for Fiscal Representative Appointment Form) to be filed in its original version at the Italian Revenue Office (Agenzia delle Entrate) within 30 days from the signature date. In order to fulfill the FRAF the Client has to provide Yacht Welfare with the following papers (in digital version, by email):

a. Ship’s Registry (Certificate of Registry – COR)
b. Owning Company’s Memorandum and Articles of Association
c. Certificate of Incumbency
d. Owning Company’s Directors List
e. Passport copy of the Director who will sign the FRAF form (signatory)



WHAT HAPPENS IF NONE OF THE DIRECTORS WILL SIGN THE FRAF

If the Owning Company will delegate a third party (e.g. the yacht’s Captain) to sign for the appointment of the Fiscal Representative, the following additional papers are required:

f. Passport copy of the delegating party (e.g. one of the Owning Company’s Director)
g. Passport copy of the delegated party ( e.g. the yacht’s Captain)
h. POA (Power of Attorney) from the delegating party to the delegated – original version is compulsory (*)

(*) to be sent by express courier along with the signed FRAF


WHO IS IN CHARGE FOR FULFILLMENT OF THE APPOINTMENT FORM

The FRAF is to be fulfilled by Yacht Welfare. The Client has the only task to check, sign and return 3 (three) original versions of the FRAF by express courier to the following address: Yacht Welfare Srl – Via Matteotti 65 – 18038 Sanremo (IM) – Italy.


HOW QUICK THE VAT NUMBER IS PROVIDED

Once received the 3 FRAFs at the address given, the new VAT number will be assigned within 48 hours from the filing of the practice with the Italian Revenue Office.


WHAT ELSE?

Yacht Welfare, now on acting in his quality as Fiscal Representative for Italy, will send you by email a copy of the VAT number assigned. A copy of this VAT number is to be kept on board and used for any and all commercial activities with fiscal relevance in Italy such as the chartering of any vessels owned (please see also our FCR file to achieve more info). The new VAT number allows the Owning Company to comply with the Italian fiscal obligations and tax payment. For any additional info please email us to info@yachtwelfare.it.


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