Agora receita positivo em Rio de Janeiro ☀️

A marina in Angra dos Reis at golden hour. The hulls are polished, the crews are discreet, and the deals happening on the aft decks are rarely about the boat itself. They are about liquidity, legacy, and the quiet architecture of ownership. I have spent over a decade advising owners and prospective buyers in Rio on yacht finance, and the most common misconception I hear is that financing a vessel is like financing a car. It is not. A yacht is an illiquid asset with a lifestyle component, a maintenance curve, and a resale market that behaves very differently from real estate or equities. The structure you choose — whether a lease, a secured loan, or a more bespoke arrangement — must reflect how you intend to use the asset, how long you plan to hold it, and how it fits into your broader balance sheet. Three things I wish every owner asked before signing: 1. What happens to the loan if the vessel is used for charter? Many lenders restrict commercial use, and mixing private and charter hours can trigger covenants you did not anticipate. 2. How is the collateral valued over time? A yacht depreciates faster than you think, and lenders will re-mark the asset periodically. If your loan-to-value ratio drifts, you may face margin calls or forced restructuring. 3. What is the exit strategy? The best structures include clear provisions for refinancing, sale, or transfer to a family entity. I have seen too many owners locked into terms that made a future sale unnecessarily painful. The current market in Brazil adds another layer. With interest rates where they are, many clients are asking whether it makes sense to finance at all. My answer is usually the same: it depends on what else that capital would be doing. If your portfolio is generating returns above the all-in cost of the loan, leverage can be sensible. If the cash is sitting idle, paying cash might be simpler — but it also concentrates risk in a single illiquid asset. There is no universal right answer, only the answer that fits your numbers. I also remind clients that the financing decision is not the end of the conversation. The structure you choose affects your tax position, your estate planning, and even your ability to sell quickly when the market turns. A vessel financed with a clean, well-documented structure is easier to sell than one tangled in personal guarantees and vague side agreements. If you are considering a yacht purchase in Rio or along the coast, do not start with the broker. Start with your balance sheet. Understand your liquidity, your risk tolerance, and your long-term goals. Then bring that clarity to the table. The right finance structure will follow. And when you are ready to talk numbers, I am here — not to sell you a boat, but to help you own it wisely.