And the Clouds Cleared for Monaco

As we descended into Nice airport prior to the show, my usual flight induced nervousness (I’m scared of flying despite over 80 flights a year!) was heightened by significant cumulonimbus clouds over the airport…was this a sign of a stormy Monaco Yacht Show ahead?!?

I kissed the tarmac on landing and was encouraged to see a good number of Manx registered planes in the apron. Judging by the standard and shapes and sizes of the many business jets around, there were undoubtedly many a significant potential yacht owner there for the show so, still, there was no sign of anything new.

Yet, on arriving in Monaco, the two things that hit me were the yachts continue to get bigger – the ‘bun fight’ of the Monaco yacht show gets more intense – and the volume of yachts grows each year.

So what do we read from that? Well, my first impression was that there are more deals to be done for Isle of Man CSPs (ever the BD guy…). My second was if I was wealthy enough, there were probably some bargains to be had from the show… again leading to more deals for IOM CSPs to transact. No sign of those storm clouds yet!

It is early days yet, but the show seems to be presenting plenty of opportunity for Abacus. With fully functioning offices in both the Isle of Man and Malta, we are well placed to pick up some of the likely deals from the show. Then there’s the likelihood of more to come when, having helped with a yacht transaction, the jet or the helicopter is often not too far behind. This makes Monaco the first trip in the diary for next year.

Even better news was that there were no storm clouds anywhere to be seen when we left Nice airport in Saturday!

Written by:

Paul Swindale
Senior Manager, Abacus Trust Company Limited