WHY US
Reflect Your Success Through The Crew That Represent You
OUR BACKGROUND
Navigating Complexity with Expertise
The world of yachting has evolved, becoming a realm where regulatory intricacies, international tax laws, and crew manning requirements dominate the landscape. For yacht owners and captains, navigating these complexities whilst providing their dedicated crew with well-earned benefits can be a formidable challenge.
Enter PYC Cayman. With a rich background in the yachting industry, we have witnessed the mounting complexities and challenges faced by yacht owners and captains. We recognised the need for a comprehensive and international solution to yacht crew employment, payroll and administration, one that not only honours crew entitlements but also minimises insurance liabilities.
OUR SOLUTION
Innovation in Yacht Crew Management
PYC Cayman stands as a beacon of innovation in yacht crew employment, payroll and administration. We are a Cayman Islands-based entity offering a multi-faceted alternative to traditional payroll services. Our distinctive approach involves employing crew members through a Segregated Portfolio Company (SPC) and leasing them back to the yacht. The results are transformative.
For commercial vessels, we go beyond the call of duty to meet all the legal obligations set forth by the Maritime Labour Convention (MLC). This includes ensuring that crew members enjoy comprehensive health benefits, regulated crew leave, access to detailed monthly pay stubs, and seamless repatriation services. Our efficient payroll processing, managed from our Cayman office, ensures that crew members are compensated in a timely and accurate manner.
Why Choose PYC Cayman?
Our mission is to simplify the complexities of yacht crew employment, payroll and administration, allowing yacht owners and captains to focus on what truly matters: a seamless and unforgettable yachting experience. With PYC, you're not just choosing a service; you're opting for excellence, innovation, and peace of mind in yacht crew employment, payroll and administration.
Welcome to PYC Cayman, where the future of yacht crew employment, payroll and administration begins.
STRATEGIC LOCATION
Why Cayman Islands?
The Cayman Islands offers a stable legal framework, zero income tax jurisdiction, and world-class financial infrastructure—ideal for international yacht crew management.
Legal Advantages
- • Zero income tax jurisdiction
- • Stable British Common Law system
- • Sophisticated financial infrastructure
- • International business-friendly regulations
Operational Benefits
- • Strategic Caribbean location
- • Excellent banking infrastructure
- • Strong data protection laws (GDPR compliant)
- • Established maritime services sector
COMPARISON
Traditional vs PYC Crew Leasing
See how PYC's innovative Segregated Portfolio Company structure provides superior protection and benefits compared to traditional crew employment methods.
| #Aspect | Traditional Crew Leasing | PYC Crew Leasing |
|---|---|---|
| 01Liability Structure | Co-mingled liabilities across all clients | Ring-fenced through individual Segregated Portfolio Companies (SPC) |
| 02Jurisdiction | Various jurisdictions with complex tax implications | Cayman Islands - zero income tax, stable legal framework |
| 03Risk Exposure | Shared risk across all yachts in the pool | Isolated risk - each yacht's SPC is completely separate |
| 04MLC Compliance | Basic compliance, often reactive | Full Maritime Labour Convention compliance with proactive monitoring |
| 05Medical Insurance | Standard coverage, limited providers | Premium Cigna International with 24/7 Global Telehealth and Wellbeing app |
| 06Crew Quality | Open recruitment, variable standards | Invitation-only crew with cybersecurity training and top references |
| 07Banking | Shared accounts, limited transparency | Dedicated Cayman National Bank account per SPC with full transparency |
| 08Data Protection | Basic data security measures | Full GDPR compliance with advanced cybersecurity protocols |
KEY DIFFERENTIATORS
What Sets PYC Apart
Segregated Portfolio Company
Ring-fenced liability protection through individual SPCs for each yacht, ensuring no co-mingled liabilities.
Cayman Islands Jurisdiction
World's largest yacht registry with a supportive regulatory environment and robust legal framework.
MLC Compliance
Full Maritime Labour Convention compliance with comprehensive health benefits and regulated crew leave.
Proven Track Record
Over 30 years of expertise in resolving crew claims and disputes, trusted by major yacht insurance underwriters.
Ready to Elevate Your Yachting Experience?
Discover how PYC Cayman can simplify your yacht crew employment, payroll and administration whilst providing unparalleled protection and peace of mind.