Know Your Customer (KYC) | 2026 & 2027
Understanding the KYC Process for Your MYBA Charter Agreement
The Know Your Customer (KYC) check is a process to be completed as part of the drafting of the MYBA Charter Agreement. Implemented in October of 2025, this additional step ensures transparency, compliance, and security throughout the booking process. To simplify the experience, the Boatbookings team has created an overview of what is required, why the process exists, and how your information is handled.
What is a KYC Check?
KYC, or Know Your Customer, is a standard verification process now being integrated into the yachting industry with the MYBA Charter Agreement Process.
The objective of the KYC process is to:
- Confirm client identity
- Ensure transparency regarding who is making the payment
- Verify that all charter funds are legitimate and compliant.
KYC checks are becoming increasingly common across the financial and luxury travel sectors and are now part of the modern yacht charter process.
What Documents Are Required?
To complete the KYC process, you will need the following items:
- Current Residential Address
- Proof of Residential Address: For example, a utility bill dated within the last three months.
- A copy of a valid passport: If you prefer, you may also just send your passport number, given name, and expiry date for the check. Please note that you likely need to present a copy of your passport during the Boatspapers in the planning phase.
How is Your Information Verified?
Your documents are securely reviewed and verified against official databases to confirm identity and compliance. If you would prefer to share these documents via a secure upload portal, please let your broker know, and they will arrange it.
Why is a KYC Check Required?
A KYC check is required to ensure compliance with international regulations, prevent fraud, and manage risks. By completing the process, we can protect the yacht owners, brokers, and management companies from legal risks while building trust and transparency. The checks are an ethical responsibility that ensures Boatbookings operates to the highest professional standards, which we strive to do across all aspects of our business.
Guidance Throughout the KYC Process
We aim to make this process as smooth as possible. Your charter expert will guide you through each step and remain available to answer any questions. All documentation is handled with strict confidentiality and in line with data protection, regulations, and GDPR.
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