Financial Admin
Administering to a yacht’s fiscal needs often requires explicit handling and tracking of a significant amount of money across multiple currencies and bank accounts. Our clients gain immensely from FYM’s long established relationships with Banks, shipyards, agents and supplier around the world; all of which work in concert to make monetary dealings safe, secure and on point every time.
Company Formation– Made easy. Freedom’s expert Maritime Counsel carefully examines all cost, legalities and statutory requirements surrounding yacht ownership before advising on an optimal company structure and Flag arrangement. Our risk adverse approach ensures maximum protection of your asset while minimizing liabilities and potential threats.
Bank Account Origination– Procurement of Company bank accounts, escrow accounts, issuance of captain and crew credit cards.
International Wire Transfers- Quick, Accurate Processing of wire transfers for invoice payment and check deposits.
Annual Budgeting Forecasts– Working with owners and Captains we derive a realistic annual budget and track it carefully against actual to derive performance. This allows for cash flow to be continually agreed upon and monitored, ensuring sufficient funds are always readily available.
Estimate / Invoice review– Carful review of work estimates and invoices to guarantee fair pricing arrangements and budget approval
Crew Payroll – Punctual and efficient transfers/distribution of payroll rewards loyal efforts and commitment put in by crew. Working in accord with international social security mandates and employment legislation we see that this service stays true and inline with budget.
Cash Procurement-Arranging for charter APA’s for captains as well as petty cash & general expenditure for onboard operations.
