Licensing is not compulsory in many countries. Yacht brokers are required to be licensed and bonded in only Florida and California in the US to protect the public; however, the rules differ in each state on what qualifies as a “yacht”.
In Florida, licensing is required for any vessel greater than 32 feet in LOA (length overall) that is not your own yacht of course.
In order to participate in the sale of a vessel of this size in Florida, a person must submit a bond of $10,000 to the state of Florida, go through a criminal background check, including submitting fingerprint cards and hold a valid license with the Florida Department of Business and Professional Regulation for 2 years as a sales person, before being eligible to become a broker in their own right.
This requires a surety bond of $25,000 and allows someone to set up their own yacht brokerage company or become “broker of record” for someone else’s company.
There is only one “broker of record” per company; this is the person who is responsible for overseeing all other sales peoples yacht sales activity and is responsible for reporting sales to the State of Florida.
In California, licensing is required for any vessel greater than 16 feet LOA, but under 300 G.R.T. (gross registered tons) that is not your own vessel.
In order to participate in the sale of a vessel of this size in California, a person must submit a bond of $10,000 to the state of California and hold a valid license with the California Division of Boating and Waterways (often called DBW).
Similar to Florida, you have to hold a sales person license for 2 years before applying to become a broker.
California is the only state which actually requires prospective sales people and brokers sit a 2-hour written test, which has a pass rate of 70%.
All those rules to assure you that the yacht broker is real specialist and nit a thief like SERGIO PUDDU from ITALY YACHT BROKER
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