Mallorca is one of Europe's most active yacht markets. With over 300 sunny days per year, world-class marinas, and easy access to the best sailing in the Mediterranean, it's no surprise that buyers from across Europe — and increasingly from further afield — are choosing Palma as both the location to buy and the base for their yacht.
But the purchase process in Spain has some specific steps and taxes that catch buyers off guard. This guide walks you through the complete process from start to finish, based on hundreds of transactions handled by our team in Palma.
Step-by-Step: The Purchase Process
Before viewing a single boat, get clear on three things: budget (purchase price plus the on-costs detailed below), intended use (day trips, overnight cruising, extended passage-making, or liveaboard), and the number of guests you regularly host. These three variables determine the right vessel more than anything else. A Mallorca-based broker can match your actual usage pattern to the right boat in a way that an online search never will.
A reputable broker represents you in the transaction — they have access to all MLS-listed boats plus off-market listings, know which sellers are motivated, and can identify problems before you waste time on a sea trial. In Spain, the buyer's broker fee is typically paid by the seller as a split commission, meaning good representation costs you nothing. Our team in Palma has been operating in this market for over a decade.
Once you've identified a vessel, the process begins with a Letter of Intent (LOI) or Memorandum of Agreement (MOA) — a conditional offer that outlines the agreed price, subject to a satisfactory survey and sea trial. A 10% deposit is typically placed in escrow at this stage. The contract protects both parties: the seller takes the boat off the market while you conduct due diligence.
This is the most critical step. A qualified marine surveyor hauls the vessel, inspects every system, and produces a written condition report. The sea trial verifies that everything works under load. Always use an independent surveyor — never one recommended by the seller. Survey costs typically run €800–€2,500 depending on vessel size. Any issues found in the survey become negotiating points on price, or conditions of completion if repairs are needed. See our full survey guide for what to look for.
Once the survey is satisfactory, the purchase completes. The balance is transferred to escrow, the seller signs the Bill of Sale, and title transfers to the buyer. A Spanish gestoria (administrative specialist) handles the registration paperwork and tax payments. For non-EU buyers, a Spanish ship's registry (Matrícula) requires a local representative. Allow 4–8 weeks for registration to complete.
The best boats in this market rarely reach the public listings. We maintain a network of owners considering a sale who haven't formally listed yet — if you have a specific budget and size in mind, tell us first before committing to a public search.
Taxes & On-Costs in Spain
Spain's yacht purchase taxes are among the things buyers are most often surprised by. Budget for these in addition to the purchase price:
| Cost | When | Typical Amount |
|---|---|---|
| Transfer Tax (ITP) — used vessels | At purchase | 4% of declared value |
| VAT (IVA) — new or commercial | At purchase | 21% |
| Spanish Matriculation Tax | At registration | ~12% for vessels over 8m |
| Marine Survey | Before purchase | €800 – €2,500 |
| Gestoria / Legal Fees | At completion | €1,500 – €3,500 |
| Marina Berth | Ongoing | €5,000 – €50,000+/year |
| Insurance | Ongoing | 0.5 – 1.5% of hull value/year |
Important: if a vessel already has Spanish Matriculation Tax paid (as noted on the listing), that tax does not repeat on resale. This is a significant saving on vessels over €500,000 and is worth flagging when you're comparing listings.
Buying VAT-Paid vs. VAT-Unpaid
Vessels described as "VAT paid" have had Spanish or EU VAT levied and paid by a previous owner. If you are an EU resident purchasing for private use, a VAT-paid vessel avoids the 21% IVA on purchase. For buyers outside the EU, or for commercial charter operations, the VAT position is more complex and you should take specific advice from a Spanish maritime lawyer before committing.
Vessels flagged outside the EU (Gibraltar, Cayman, etc.) often appear to be cheaper — but the VAT and matriculation liability you take on at import can easily exceed the apparent saving. Always calculate the fully imported, fully registered cost before comparing prices across different flag states.
Looking for a Yacht in Mallorca?
Our brokerage team handles the entire process — search, survey, negotiation, and registration. Browse our current listings or contact us to discuss your requirements.
View Current ListingsWhy Buy in Mallorca?
Palma is the largest recreational boating hub in the Mediterranean. The city has multiple marinas with hundreds of berths, every type of service yard within minutes of the water, a deep pool of experienced crew, and direct flights to every major European city year-round. Buying and basing your yacht here means you can be sailing within hours of landing — and the maintenance infrastructure means the boat is always ready.
The sailing season in Mallorca runs from April to November, with July and August offering the most reliably calm conditions. The Tramuntana coast to the northwest, the southern anchorages around Cabrera, and the Balearic island-hop to Ibiza and Formentera represent some of the finest sailing in Europe, all accessible from a Palma base within a day's passage.