RAY can complement the roles of captains and yacht managers by covering certain areas of Crew Administration, Payroll & FX.
Handling employment contracts, assessing national insurance contributions, arranging medical and accident cover, providing pension plans or efficient and timely payroll facilities become essential if you are trying to keep your on board crew happy. And as a moveable asset, a yacht is likely to require constant provision of funds to cover the multiple expenses involved in running and maintaining a yacht.
Due to our close relationship with money transmitters and the Sovereign office network, we are able to arrange payrolls and instant international payments from various jurisdictions and in more than 20 different currencies. In the case of payrolls this could help mitigating the tax impact of social security contributions.