Grenada has reviewed fees for visiting yachts and, in line with much of the Caribbean, the cruising permit fee is now charged on a monthly rather than “one time” basis.

The monthly cruising permit fees are as follows:

Complete months spent in boatyards are exempt, and MAYAG has requested that this be applied to time on the dock in marinas also – this will be confirmed once MAYAG has final agreement from Customs.

MAYAG has proposed an ‘amnesty’ period for yachts already in Grenada with an old “one time” cruising permit, and they await confirmation from Customs. MAYAG will publish more information as soon as we have this confirmation.

Overall, the tax and fee structure for yachts in Grenada is still favourable. Yachts in Transit pay only 2.5% on imported parts and supplies, and yacht services – including dockage and yard storage – for foreign flagged vessels are exempt from VAT.

For more information, please email MAYAG at mayagadmin2@gmail.com.

The advisory from the National Hurricane Center -

THE BROAD AREA OF LOW PRESSURE IN THE SOUTHEASTERN CARIBBEAN SEA HAS BECOME A LITTLE LESS ORGANIZED AND THE POTENTIAL FOR TROPICAL DEPRESSION FORMATION HAS LESSENED TODAY.  HOWEVER…THIS SYSTEM WILL CONTINUE TO BE MONITORED FOR SIGNS OF DEVELOPMENT AS IT MOVES WESTWARD AT 20 TO 25 MPH.

Regards to all
Raquel Edwards
GM OFFICE

We are monitoring a tropical wave heading west in the direction of the Windwards Islands. We expect some squally weather tonight and tomorrow as a result of this wave, which is referred to at this time as Invest 94.

From the National Hurricane Center as of 2pm this afternoon -

AN AREA OF LOW PRESSURE ABOUT 200 MILES EAST OF THE WINDWARD ISLANDS
REMAINS WELL-ORGANIZED AND AN AIR FORCE RESERVE RECONNAISSANCE
AIRCRAFT IS CURRENTLY INVESTIGATING THIS AREA TO DETERMINE IF A
TROPICAL DEPRESSION HAS FORMED. REGARDLESS OF DEVELOPMENT…THE
SYSTEM IS EXPECTED TO MOVE WESTWARD AT 20 TO 25 MPH…BRINGING
GUSTY WINDS AND LOCALLY HEAVY RAINS TO THE WINDWARD ISLANDS TODAY
AND TOMORROW. 

Although the system is expected to strengthen after it passes the islands, as a precaution the yard crew went around checking chocks and tightening straps on the boats today.

Please be guided accordingly.

Raquel Edwards
GM Office

Our local bankers, RBTT Grenada Ltd, has recently advised us about new procedures that have been implemented with regard to funds being transferred to our account from overseas.  Please see below the instructions we received from RBTT.

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Regarding the subject item hereunder is a guide which constitutes verifiable source of funds:

• • Maturing investments or policy claim – letter/contract note from previous investment company re notification of proceeds of maturing investment/claim
  • Sale of shares, unit trusts, mutual funds etc – legal sale documents e.g. contract notes
  • Property sale – signed letter from solicitor or sale contract
  • Loan – loan agreement or recent loan statement
  • Other income – appropriate supporting documentation or signed letter detailing funds from a financial institution

As [Grenada Marine] indicates on the [source of funds forms that are completed by Grenada Marine at the request of RBTT], the funds are for repairs done on various boats, however the true source is how the remitters obtained the funds that they sent.  We have since requested source of funds from the remitters’ banks, however if you are in contact with them you can advise them to have their banks reply to our requests.

Most financial institutions have policies as it relates to Anti-Money Laundering and source of funds, with some countries having stricter policies than others.  Based on the above, your clients can state the source through their bank or forward the relevant information to us.

Regards,

Steven Neckles
Foreign Business Officer
RBTT Bank Grenada Ltd, P.O. Box 4, St. George’s
1-473-440-3521 Ext. 358 / Fax: 1-473-440-1654 / E-mail: steven.neckles@gd.rbtt.com

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Clients who are transferring funds must be aware that until the source of funds information is satisfactorily completed, the funds are not released to Grenada Marine, and the settlement of your account with Grenada Marine will be delayed. Therefore we are asking clients to provide the required information at the time that the wire transfer is being processed by your bank.

PLEASE NOTE THAT THIS AFFECTS WIRE TRANSFERS AND LARGE CASH PAYMENTS ONLY.  Credit card payments, such as monthly storage fees, are not affected.

We wish to reiterate that this is a requirement of our bankers and as such Grenada Marine is not in a position to circumvent this procedure.

Please be advised accordingly.

Raquel Edwards
GM OFFICE

Last night/early morning Tropical Storm Felix passed just north of Grenada (current advisories at http://www.wunderground.com/tropical/tracking/at200706.html).

During the day yesterday, before Felix was even classified as a depression, the yard crew took the necessary storm preparation procedures, checking and reinforcing straps, checking the chocks, etc. Late last night and through the morning we experienced heavy rains and winds, power is off in many areas of the island including at the boatyard where we are operating on generator power. During the switchover due to the power outage our office server reset itself, resulting in an interruption in our weather station reporting; this has since been restored.

This morning, although we were still under an official TS Warning Advisory, personnel from the yard crew was at the yard assessing the situation. No boats on the hard were damaged. A couple of boats anchored in the bay dragged, among them Fred Thomas’ Apollonia, and Alan Reynolds’ Moondancer. Moondancer suffered minor grounding damages. Please see photos taken this morning in the yard at http://picasaweb.google.com/grenadamarine/TropicalStormFelix?authkey=pere4fm6MYg

Within the next couple of days we will be checking the boats for water ingress, leaks etc. and will advise the relevant boat owners if any issues or problems are found.

Regards,

Raquel Edwards

GM Office

Advising that as of 11am this morning, Grenada and its dependencies were placed under a Tropical Storm Warning in advance of Hurricane Dean. Although forecasts and projections place Dean’s path to the north of Barbados, well away from Grenada, please be advised that we are proceeding with our usual storm preparations. Apart from that, the weather here today is sunny with a light breeze.

Regards,
Raquel Edwards
GM OFFICE