on 28 Jan 2022
Simpson Marine presented the brand new SX76 at an open day in Hong Kong earlier this month
A Sanlorenzo SX76 has become the first Sanlorenzo yacht to enter Hainan under the newly launched Tax Free Port Policy.
Simpson Marine has recently been registered as an operating business in the Sanya Tax Free Port and is now able to deliver yachts to Hainan in this scheme.
The company presented the brand new yacht at an open day in Hong Kong earlier this month, before the yacht departed for her final destination, Sanya.
READ: Simpson Marine to be in Hainan “in force” this winter, says Mike Simpson
China’s central government released a master plan on June 1, 2020, setting out policies to support the construction of the Hainan Free Trade Port (Hainan FTP). The FTP plan, which includes specific mention of yachting, is a sweeping plan to transform Hainan into China’s biggest free trade port by 2035. Net tax rates on imported yachts to Hainan have dropped to zero while the current tax rate on imported yachts in the rest of China remains 38 per cent.
This new tax policy is expected to significantly boost yacht ownership in Hainan, on China’s southern coast. The government seeks to make Hainan a centre for foreign finance as well as a destination for Chinese shoppers.
Designed by superyacht design experts Zuccon International Project, the Sanlorenzo SX76 is a crossover yacht that encompasses elements of classic flybridge and explorer yachts.