Inward processing

What is Inward Processing (active improvement) in boat repair?

It is a special customs procedure that allows non-EU goods to be used within the customs territory of the Union, for example for the conversion and repair of boats, without these operations being subject to import duties or other measures, with the administrative and tax implications this entails, of course.

Spain, and in particular places such as the Balearic Islands, have become a worldwide hub for boat maintenance and repair, for several reasons:

1. 1. The exceptional location of the Balearic Islands, which of course means no tides, an enviable climate and excellent transport links.
   2. The quality of boat repair professionals in all their specialities and their collaborative approach to projects.
   3. Ports and marinas that lead in infrastructure and technical capabilities.
   4. The international origin of the different operators.
   5. The Balearic Islands as an archipelago of natural and urban beauty which, since the 1960s, has made them a destination for many boats that also enjoy maintenance there.

All of the above has allowed the sector to grow in recent decades, creating an environment of companies and micro-companies to cover this boat refit activity, which has a very important impact.

At BCS Mallorca we provide support in terms of risk cover, advising on the best insurance options for the different parties involved in Inward Processing.