NEVER STOP ASKING

• Raffles
• Onboard
• Ashore
• Financial
• Donald Starkey Designs
• Exploration
• FAQ
• Technical
• Press
• Contact

• Overview
• Next question
• Previous question

Is the Raffles legal ownership / management structure unique?

At this time we do not know of any similar vessel that is sold outright to apartment owners. With similar vessel property concepts currently on offer, the constructors or developers retain the legal ownership of the vessel and only lease apartments. In one case they also lease the public areas / facilities to an apartment “Owners Association” that then leases them to you, which legally can lead to horrendous problems?

It appears also that some of the vessels that are Raffles known competition enter service with significant bank debt associated with them. As happened with one this can lead to financial / legal problems, even to the vessel being taken over by the banks!

Raffles is totally free of any debt on delivery and this is confirmed by the trustees when she is legally accepted, put in service / you own her.

Raffles competitors also impose a (ship) management contract on apartment owners, with no provision for oversight or transparency of management and operating costs, with it appears no input from lessees?

We believe that only the Raffles ownership structure provides true legal and financial ownership, complete clarity and total participation, allied with the least problems (and lowest costs), which are anyway handled for you by independent professionals, bankers, lawyers and accountants of the highest reputation.

If you opt for the 5 year guarantee FVH / AMS involvement in Raffles ship management during this period is not for profit and all management costs are open book, continuously monitored by an onboard owners committee and / or independent consultants.