Yachting and maritime law

Over the last few years, the Principality of Monaco has become a leading centre for yachting. The "Monaco Yacht Show" is the leading event of the year for the yachting industry.

Yachting is the Principality's fourth-largest industry in terms of turnover. The constant expansion of port areas and the creation of new infrastructures dedicated to yachting are contributing to its development in a privileged location.

Since September 2023, a new set of General Port Regulations (annexed to Ministerial Decree no. 2023-503 of 7 September 2023) has been applicable to all users. They set out the rules governing the use of the port facilities and installations made available to the Société d'Exploitation des Ports de Monaco (SEPM) by the Principality, in accordance with the concession contract and its specifications (access and residence of ships, use of the port area and facilities, navigation and safety, pollution prevention and control, civil and criminal liability).

To increase its port capacity, the Principality has invested in a 6-hectare extension at sea "Mareterra", which includes a port, and in Italy with the takeover of the Ventimiglia marina concession.

The Monegasque Maritime Code, created by Law no. 1.198 of 27 March 1998, governs Monegasque maritime areas and the protection of the marine environment, the status of ships (naturalisation, owners' liability, maritime mortgages, liens, seizure, etc.), marine insurance contracts, employment contracts and offences committed by crew members.

It may be noted at the margin that the Environmental Code (pollution of the aquatic environment), resulting from Law No. 1.456 of 12 December 2017, applies without prejudice to the Maritime Code.

Sovereign Order n° 9.896 of 4 May 2023 inserted into the Environment Code a balanced and sustainable management of water resources taking into account the necessary adaptations to climate change and aiming to: 1°) ensure the development, mobilisation, creation and protection of water resources; 2°) promote the efficient, economical and sustainable use of water resources; 3°) protect the biological life of the aquatic environment and the conservation of the ecological services it provides.

Yachting is the Principality's fourth-largest industry in terms of turnover. The constant expansion of port areas and the creation of new infrastructures dedicated to yachting are contributing to its development in a privileged location.

The Monegasque Code of the Sea ("Code de la Mer"), created by Law no. 1.198 of 27 March 1998, governs in particular the Monegasque maritime areas and the protection of the marine environment, the status of ships (naturalization, responsibility of the owners, maritime mortgage, privileges, seizure … ), marine insurance contracts, contracts of engagement, offenses committed by crew members.

In connection with this, it should be noted that the Environment Code (pollution of the aquatic environment), resulting from Law no. 1.456 of 12 December 2017, applies without prejudice to the Code of the Sea.

Sovereign Order No. 9.896 of 4 May 2023 inserted into the Environment Code a balanced and sustainable management of water resources taking into account the necessary adaptations to climate change and aiming to: 1°) ensure the development, mobilisation, creation and protection of water resources; 2°) promote efficient, economical and sustainable use of water resources; 3°) protect the biological life of the aquatic environment and the conservation of the ecological services it provides.

Law no. 1.362 of 3 August 2009, as amended, and its implementing regulations apply to professionals who, on a regular or ancillary basis, as a natural or legal person, act as an intermediary or carry out the activities of buying and selling new or second-hand ships, chartering, leasing ships, or managing pleasure or commercial ships. The Monegasque Control Authority has published the Guide pratique spécifique - Yachting ("Specific Practical Guide").

• Regulation of ship searches (Law no. 1.533 of 9 December 2022 ; Law no. 1.534 of 9 December 2022).
• Reform of preventive measures to combat money laundering, the financing of terrorism and the proliferation of weapons of mass destruction, and corruption (following the MONEYVAL Committee Report of December 2022 (Law no. 1.549 of 6 July 2023 (Part I), Law no. 1.550 of 10 August 2023 (Part II)).
• Ship inspection as part of preventive control (Moneyval Law no. 1.553 of 7 December 2023 (Part III).(bill no. 1080).