Yacht owner can save NOK 700 million by visiting Norway

Andrej MelnitsjenkoKristiansand. Super yacht.Andrej Melnitsjenko (Russia).Photo : Tor Erik Schrøder / NTB scanpix

By sailing his super yacht into Kristiansand, the Industrialist billionaire Andrej Melnitsjenko could most likely obtain a NOK 700 million tax refund from Germany.

The Kristiansand Harbour Management nor the shipping agent will confirm the reason why the brand new yacht will be coming to Norway.

-The main reason that a yacht sails into a Norwegian port is to obtain a VAT refund, says a tax expert who wishes to remain anonymous to Dagens Næringsliv.

According to the newspaper, the ship-owner will receive a 19% VAT refund from Germany by arriving at a port outside of the EU. To document this, the ship-owner must get several papers stamped in Kristiansand.

The yacht reportedly has a price tag of NOK 3.7 billion. Thus, the VAT refund would be approximately NOK 700 million.

The yacht is 143 meters long and is the largest in the world of its kind. It has eight floors, several lifts, a helipad, swimming pool, room for several cars and a submarine, writes the Superyachtfan website.

The owner, Andrej Melnitsjenko, was among the founders of what became one of Russia’s largest private banks, MDW Bank. Later he has been involved with the coal and chemical industries.

In 2016, Forbes list ranked him as the world’s 139th richest persons. His wealth is estimated to be over NOK 100 billion.


Source: NTB scanpix / Norway Today