Buying a Second-hand Yacht in Ibiza: The 5 Legal Mistakes You Must Avoid

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The yachting market in Ibiza is booming, and Buying a Second-hand Yacht in Ibiza often serves as an entry point for owners looking to experience the Mediterranean lifestyle.

While owning a yacht here is a powerful dream, the process can be fraught with legal complexities.

Even experienced buyers can be taken by surprise by the regulatory framework.

Failure to follow the correct procedure can result in hidden debts, compliance issues, or even the immobilisation of the vessel.

The 5 Legal Mistakes to Avoid When Buying a Yacht in Ibiza

While finding your perfect boat is exciting, ignoring the legalities can turn your dream into a nightmare.

This guide outlines the most common legal mistakes to avoid.

Mistake 1: Not Understanding a Yacht Has Two Separate Legal Histories

Imagine this: you are in Ibiza, finalising the purchase of a beautiful yacht from a UK resident. 

The seller assures you everything is “in order”. You check the boat’s registration papers, which seem correct. 

However, you later discover that a Spanish bank placed a marine mortgage on the yacht years ago, a debt the seller never paid off. 

That debt is now your problem because it travels with the yacht, not the owner.

How to Avoid It:

A yacht’s legal status is split across two independent registries. Checking only one is a critical error.

The Administrative Registry (Capitanía Marítima): An extract from this registry, managed by the Dirección General de la Marina Mercante (DGMM), confirms the legal owner, the yacht’s flag (Spanish or foreign), and if it is “active” and certified for navigation.

The Financial Registry (Registro de Bienes Muebles): This is where you uncover financial burdens. 

It is the only place where a marine mortgage, seizure order, or other loan secured against the vessel will be recorded. Always demand a certificate confirming it is free of charges (libre de cargas).

Mistake 2: Making Expensive Assumptions About Taxes

Taxes are complex and a primary source of costly surprises. There are three key taxes to understand:

Value Added Tax (VAT / IVA): If buying from a company, VAT applies. The biggest risk is a missing original VAT invoice. 

If the seller cannot prove VAT was paid in the EU, the Agencia Tributaria (AEAT) can demand you pay it again.

Property Transfer Tax (ITP): If buying from an individual, you pay ITP. A common mistake in the Balearics is assuming this tax is based on the agreed sale price.

The regional tax authority (ATIB) often calculates the tax based on the yacht’s official valuation in government tables, which can be higher than your purchase price.

Special Registration Tax (Impuesto de Matriculación): This is a one-time tax for residents registering a yacht for private use in Spain. 

Non-residents may be exempt, but this depends on the yacht’s “principal use”. If you plan to keep the yacht moored in Ibiza and sail mainly in Spanish waters, the tax authorities may argue that its principal use is here, making the tax applicable.

Mistake 3: Overlooking a Single Missing or Expired Document

You are enjoying a perfect day out on your newly acquired yacht near Formentera when you are stopped for a routine inspection by the Guardia Civil. 

They ask for your yacht’s documentation. You present what the seller gave you, only to be told that the technical inspection (ITB) expired two months ago. 

The result: a hefty fine and an order to return to port immediately, with the yacht immobilised until the inspection is passed and the fine is paid.

How to Avoid It:

Before payment, verify every single document is present and valid:

Permiso de Navegación (Navigation Permit).

Certificado de Navegabilidad (Seaworthiness Certificate) with a valid ITB. For most private yachts, the ITB must be renewed periodically (e.g., every 5 years).

Proof of original VAT or ITP payment.

Certificate of Deletion from the previous flag registry if you are re-registering a foreign yacht in Spain.

Mistake 4: Relying on a Handshake or a Generic Contract

A poorly drafted contract offers zero protection. A professional Sale and Purchase Agreement, governed by Spanish law, is non-negotiable.

It protects you from a seller who disappears or fails to cooperate after receiving payment.

Beyond the basics, a robust contract must include:

• Specific Deadlines: A clause obligating the seller to provide all necessary transfer documents by a fixed date.
• Warranties from the Seller: A clear declaration that the yacht is free from all debts and liens, and that the seller is the legitimate owner.
• “As Is” Condition, Clarified: While yachts are often sold “as is,” the contract must differentiate this from the legal warranties regarding ownership and freedom from financial charges.

Mistake 5: Confusing the Mandatory ITB with a Proper Pre-Purchase Survey

There is a crucial difference between the two:

The Inspección Técnica de Buques (ITB) is a basic, mandatory safety check. It confirms the yacht meets minimum legal requirements (e.g., has life jackets, flares) but does not evaluate the engine, hull integrity, or electronics. The ITB confirms the yacht might not sink today.

A Professional Pre-Purchase Survey tells you if it will cost a fortune tomorrow. It is a deep, structural, and mechanical analysis of the vessel.

FAQs on Buying a Second-hand Yacht in Ibiza

Do I need to pay VAT again on a second-hand yacht in Ibiza?
Not if VAT has been correctly paid and documented. Always request the original invoice or certificate from the Agencia Tributaria.

Can I keep a yacht bought in Ibiza under a foreign flag?
Yes, but you must comply with Spanish navigation rules when operating locally, and crew regulations may differ.

What happens if debts are discovered after purchase?
If the yacht has registered encumbrances, you inherit them. That is why checking the Registro de Bienes Muebles before signing is essential.

Is a technical survey mandatory?
A private survey is not legally required, but compliance inspections (ITB, safety checks) are. Skipping a survey exposes you to costly surprises.

How long does ownership transfer take?
Once documents are correct, registration with the authorities can take from a few days to several weeks, depending on the Registry’s workload.

Buying a Second-hand Yacht in Ibiza is an exciting step, but it is not a simple purchase. 

Working with experienced Yachting Lawyers in Ibiza  ensures that every aspect,  from registry checks to VAT validation and flagging strategy,  is handled correctly. 

In Ibiza, securing your investment with expert legal diligence is just as important as choosing the right yacht.

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