BOAT SHARE FREQUENTLY ASKED QUESTIONS

Here at MBS Boat Services you can own your very own boat, without the worries!

We have had many boat owners looking to purchase a luxury boat of their own here in Cyprus, but with insufficient capital it was a struggle.

We can now offer clients the chance to own the boat they have longed for.

Do you need any special qualifications to be a share owner?

A named shareholder must be present and hold a valid licence every time the boat goes on the water.   
If you are not a Cypriot resident, you will need to take a RYA Powerboat I & II course. We can arrange training for you locally.

Additional courses for Co-Shareholders, family members or friends are available at an additional cost.

“MINIMUM COST – MAXIMUM FUN”

No devaluation in the first
year against an upgrade

No repair, servicing or
maintenance costs

No storage problems

No insurance payments

No cleaning

Is there a limit on the number of people who can own the share?

Shares can be owned by more than one person(Co-Shareholder), however each Co-Shareholder named on the Share contract will be equally responsible for the management fees and the rectifying of any damage. 

The 28 days usage also has to be split between all share owners.

When do you need to pay Management Fees?

These are due in advance and yearly on the date of the contract signing. Fees can be paid monthly by standing order.  Fees must be kept up to date.  Management fees are subject to increases, however, MBS will endeavour to keep this no higher than cost of living and will provide plenty of notice should an increase be necessary.

How do you pay for Fuel?

The boat is launched with a full tank of fuel, on recovery of the boat, the tank is then filled. 
The amount used is then billed to the Shareholder.

A fuel account system is used and the account should be kept in credit, when the account is low we will contact the Shareholder for a further deposit, or the shareholder may wish  follow the boat up to the petrol station after each launch and pay the garage direct.

Does MBS offer Equipment Hire?

Towable inflatables, skis, wakeboards and kneeboards can be hired at the cost of €17.00 per day, this covers single item hire. Attractive discounts are available for multiple item hire.

Can you cancel a Share?

Should anyone decide that they no longer want their share they may:

• Sell the share privately

• We may be in a position to buy the share back but cannot guarantee this

• We can market the share on behalf of the Shareholder who is looking to sell

 
Once agreed the share will then be transferred after the contract has been signed. It will not be treated as a ‘new’ share in that the contract will remain rolling and the fees and the number of days available in the contract year are carried over.

Please note all management fees and fuel accounts must be settled in full before a Share can change hands.  An administration fee is applicable to all contractual changes.

How many days can I use the boat for per year

The annual 28 days allowance commences on the date stated on the contract and are renewed on the same date annually, dates may not be carried forward.

Launches are bookable in advance or at short notice, we try to accommodate everyone on special occasions if we have prior warning.  It may be possible to ‘borrow’ extra days from a fellow shareholder should they not use their allowance, no fees will be charged. 

Each launch is classed as a day regardless of how much time you are on the water.