Praxis expands long-standing support for 60+m superyacht

Praxis has expanded its support for a 60+m superyacht, adding Full International Safety Management (ISM) to an integrated service model that already includes crew employment, payroll and ownership support.

Praxis has supported the owner and family office for more than a decade. Over that time, the relationship has developed from ownership support and crew services to a broader suite of services supporting both the yacht’s operational requirements and the client’s wider ownership arrangements.

The latest expansion sees Praxis provide Full ISM support, including flag, compliance and safety management services under the Bermuda flag.

Bringing together yacht management, crew employment, payroll, safety management and ownership support gives the client access to coordinated specialist expertise from teams that already understand the yacht, its ownership structure and the family office’s priorities. This integrated approach helps reduce complexity while enabling the family office to retain strategic oversight.

Praxis has also supported the consolidation of related ownership arrangements, including bringing the ownership of a chase boat within the same structure. This has helped to simplify administration while maintaining appropriate oversight through the family office.

Bruce Maltwood, Director - Yacht Services, said: “This is a strong example of how our yacht services can evolve with a client's requirements over time. The family office wanted to retain control while drawing on specialist support from a regulated provider that understood the structure and how the yacht operates.

“By bringing safety management, crew, payroll and ownership services together, we can provide a more connected and efficient service. For owners and family offices, the value is not simply in outsourcing individual tasks. It comes from having coordinated support across the operational, regulatory and ownership considerations that sit behind a yacht of this scale.”

With a 50-year pedigree, Praxis is one of the industry’s longest-standing providers of yacht ownership, management, crew and payroll services. The firm works with private clients, family offices, trust companies and advisers, providing the specialist structures, administration and operational oversight required for complex yacht ownership.

For more information on how Praxis supports yacht owners, family offices and advisers with integrated yacht services, please contact Bruce or a member of the Yacht Services team.