The leased boat, on record week by week.
Until the client exercises the purchase option, the boat belongs to the leasing company, but it's the client who uses her. Digital Vessel records on board, with data signed at source, how she's being used: weeks underway inside and outside the European Union, maintenance, faults and the condition of the asset. Verifiable ground for VAT, for residual value and for the difficult moments.
The owner of the asset is the furthest from the boat
During the lease, the leasing company owns the boat but has no view of how she's used, whether maintenance is done, or where she is. It finds out at the end of the contract or, at worst, when it has to repossess her. Meanwhile it applies VAT to the instalments based on what the client declares and documents, week by week.
Recording use outside the EU, without weekly photographs
Under Italian rules in force since November 2020, VAT on marine lease instalments applies only to the share linked to the boat's actual use in EU waters, and use outside the EU must be proved with the accepted means, including AIS data or two photographs of the boat's position for each week underway.
Digital Vessel records position and AIS data from the onboard network, signs them at source and works out, week by week, time underway inside and outside the EU. The record separates passage-making, time in port and time in the yard, a distinction that matters in light of the most recent guidance on what counts as use.
The result is a record nobody can alter after the fact without it showing, designed to document use outside the EU. Its use as proof for VAT purposes will need to be confirmed by the Italian Revenue Agency through a formal ruling request. The assessment of each tax position always remains with the advisers of the client and the leasing company.
What changes for the leasing company
Firmer ground for VAT
The VAT applied on invoices can rest on verifiable data, not only on the client's declaration.
Residual value protected
Maintenance on schedule, engine hours and faults stay on record. The signed history shows how the boat has been kept.
Default and recovery
Where the contract provides for it, the boat's position and condition are known. A documented history helps put the asset back on the market sooner, and at a better price.
Use within the contract
An alert when the boat leaves the agreed cruising areas.
What changes for the client
Less VAT paperwork
The record of weeks inside and outside the EU builds itself; once confirmed as proof, it replaces the photographs to take and file.
The boat under watch
Batteries, bilge, engines and shore power stay monitored from ashore, through the app.
A history that counts at buy-out
When the purchase option is exercised or the boat is sold, the signed record shows how she's been kept.
Everyone sees only what they need
Leasing company
The asset's condition, maintenance, relevant faults and an aggregate count of weeks inside and outside the EU.
Precise position
Visible to the leasing company only in the cases set out in the contract, such as default, repossession or theft, with the client informed from signing.
Client
All the data for their own boat, in the app.
Access rules are written into the lease agreement, and data handling follows GDPR. No boat and no server exposes a public IP address to the internet.
How it fits into the contract
On new boats, Digital Vessel is fitted at the yard before delivery. On boats already in the portfolio, it goes aboard as a retrofit through partner refit yards, without replacing the onboard electronics. The subscription can be built into the instalment or charged to the client, and the data can be exported for audits and checks.
Where we are, straight up
- todayThe system is fitted to three real boats and has been logging data underway since summer 2026, with position and data signed at source.
- todayThe use of the signed record as proof of use outside the EU for VAT purposes has received a favourable professional tax opinion, and must be confirmed by the Italian Revenue Agency through a formal ruling request.
- in developmentAn automatic report of weeks inside and outside the EU, for each contract.
- comingThe first projects with leasing companies; there are no agreements in place today.