Charter Business & Investment
How to Structure Buying an Existing Liveaboard Operation (Boat + Permits)
Published by the Raja Ampat Yacht Broker Desk · Updated 19 August 2026
Buying an existing liveaboard operation is structured either as a share purchase, which keeps permits, contracts and booking history intact but inherits the company’s liabilities, or as an asset purchase, which leaves history behind but usually means re-establishing licences and agent agreements.
The structural choice
| Share purchase | Asset purchase | |
|---|---|---|
| Permits | Usually preserved with the entity | Often need re-application |
| Contracts and bookings | Continue as they are | May require novation or re-signing |
| Liabilities | Inherited, known and unknown | Largely left behind |
| Diligence burden | Corporate, tax and legal as well as technical | Concentrated on the asset and title |
| Best when | Permits and trading history carry real value | The vessel is the value and the company is not |
Protecting the things you are paying for
- Permits. Confirm in writing that they survive the change of control before completion, not after.
- Deposits. Cash held for departures after completion should transfer with the obligation to deliver them.
- Agents. Check whether distribution agreements assign to a new owner or terminate on change of control.
- Crew. Retention of the master, engineer and lead guides is worth writing into the deal as a condition.
- Brand. Domains, marks, review profiles, photo library and mailing list must be listed explicitly — they are frequently forgotten and frequently the most valuable soft asset.
Conditions worth insisting on
Completion conditional on a satisfactory independent survey, on written confirmation of the permit position, and on key-crew retention. Warranties covering undisclosed liabilities and the accuracy of the booking book. A defined handover period with the outgoing operator, scoped in writing. A non-compete that stops the seller relaunching the same product in the same strait next season.
Sequencing the diligence
Run the corporate and permit diligence in parallel with the survey, not after it. Buyers who complete a technical survey first and only then discover a permit problem have spent money proving they liked a boat they cannot legally operate. The full list is in liveaboard business due diligence, the transaction framework on charter businesses for sale, and the ownership route in registering a foreign yacht.
Next step: send the desk your brief — vessel type, cruising ground, budget band in USD and timing — via the enquiry desk.