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The Committee of European Yachting Professionals (ECPY) and the organisation that manages the ports of Nice, Cannes, Villefranche and Golfe-Juan – CCI Nice Côte d’Azur – have joined in raising the alarm over a crisis in the yachting sector. Of most concern is the raising of taxes and fees and the reintroduction of rules and regulations that had fallen into disuse.
The economic and regulatory burden is now so heavy that yacht owners are considering moving their vessels to other Mediterranean jurisdictions, they say. The yachting sector has doubled in size over the last ten years and the prospects for further growth are excellent, but France risks losing a large part of the industry that helps support local economies.
French taxation as applied to the yachting sector is also very complex, the CCI says. The organisation is resorting to social media to get its message across and has launched a Linkedin group on “taxation for yachting” as well as producing a short explanatory film on the subject.
The National Assembly has welcomed the latest graduates to the Principality’s Police Force.
An incredible 12-month time lapse video showing the creation of Monaco’s mammoth land extension project has just been released.
Monaco has a new bailiff, or huissier as known locally, who was sworn in earlier this week.
General crime rates in the Principality dropped by a significant 16% between the years 2016 and 2019, and street crime by an impressive 52%.