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• Raffles ownership
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• Optional guarantee
• Step by step
• Bermuda Trust

Financial

No other vessel and very few other purchases that you will make can provide the same level of unambiguous financial and legal security as an apartment on Raffles. This starts before construction commences, applies all through it and then for the next 100 years of Raffles life.

Primary legal ownership protection is provided by the 122 “community of owners” being (when it is delivered) the sole owners of MV Raffles (the ship) via their individual shareholding(s) in a single purpose limited liability company (Raffles Limited) incorporated in the Isle of Man (IoM) with a paid up capital of about €272 million. As sole owners / shareholders of this company and everything concerning it transparent, you (and your lawyers / accountants) can be absolutely certain that there are no leases, no day paying passengers, no fine print and no hidden commitments or costs involved in your outright ownership and operation of your ship.

Total legal and financial protection of individual shareholders is provided under international conventions by the owning company being private with limited liability and with its capital fully paid up or equal to the price that all 122 shareholders together pay for all the apartments.

As a not for profit (1931) shipowning company and Raffles not operating in IoM waters then under IoM law there is no tax liability whatsoever, personal or corporate which is guaranteed by the IoM Government's company law.

Financial protection is confirmed with Raffles being delivered to you only after it is independently certified by worldwide accountant group Ernst & Young as free from all debt. Once delivered all of its costs of operation are always fully transparent to the community of owners / occupants who can monitor these on a daily basis and also have total control all of the ships’ expenditures via the Captain and onboard chartered accountant.

The measures / structures planned for you are developed with one of the largest, oldest (and most profitable) British commercial banks in the world, (The Bank), their Wealth Planning Department and as legal advisors Alexanders (of Bermuda) specifically to allow Raffles’ owner / occupants to sail away without any cares, knowing that they are supported and protected by independent world class specialists. This is supported by Raffles being insured by only leading underwriters at Lloyd's in London providing Hull & Machinery (H&M) and Protection and Indemnity (P&I “club”) insurances.

Separately additional comfort can be obtained from the unique optional 5 years guarantee that can be provided by the builders which will include supporting and guiding owners through the operational management of Raffles for the same period.

Subject to the composition and needs of the 122 individual shareholders an additional level of ownership protection (that may also provide interesting tax and inheritance advantages) is an optional trust structure established by the bank's trust department in Bermuda that will in turn “own” the IoM company.

Note: The name Raffles for both the ship itself and the company can if all owners / shareholders desire it be changed easily and quickly.

For a short explanation of the process of buying an apartment go direct to “step by step” summary.