Cornerstone’s team know what is required by Yacht Owners, DPA’s, Captains and crew alike.
We understand the importance of independent properly employed crew who are professionally supported, represented and of course paid on time!
We are available to help all stakeholders with any queries they may have and will go out of our way to provide the best service possible.
Cornerstone’s objective is to facilitate the payment and associated employment responsibilities on behalf of our clients. We are specialists. This is what we do. We remove the burden of managing the crew and arranging monthly payroll, whilst separating the crew employment liabilities from any yacht ownership structure that may be in place. We provide dedicated bank accounts, compliant employment agreements, assist with disputes or issues, address tax and all other related payroll obligations, alongside a multitude of other services. It is a comprehensive solution by a team for whom this is their special subject.
Each yacht has its own dedicated Crew Employment Company, the sole purpose of which is to employ the crew for their yacht. This also isolates their yacht from any others helping in creating a safe layer of protection for owners and crew.
Provision of a dedicated Bank Account for each Company, ensuring that each owners funds are ring-fenced and protected.
Provision of Seafarer Employment Agreement’s for each crew member that comply with MLC 2006 and each Flag States requirements.
Assistance with employment disputes, disciplinary issues and where required, support to specialist lawyers.
Complete administrative service, including payroll, salary notifications and termination agreements
Tax & social security
Providing assistance to employees in meeting their tax and social security obligations
Monitoring and verifying crew medical cover and qualifications, ensuring they are up to date and appropriate
Flag State safe manning
and exemption certificates
Obtaining Flag State safe manning and exemption certificates
Cornerstone operates a cloud based payroll system that allows all crew complete online access to their pay slips and payment to enable them to understand how their pay has been calculated, what holiday they have accrued and to help them with their tax returns where appropriate.
Access to the payroll can be given on a case by case basic to yacht management companies for bookkeeping and governance purposes etc.
A monthly crew records report is prepared and circulated to the yacht Captain confirming details of crew who worked on the yacht that month, amounts they are due and reconciling holidays taken to the allowances provided for.
Once agreed with the Captain the report is sent to the Owner or their representative along with an invoice covering the monthly salaries due.
Owner makes one single
payment per month
Owner or their representative makes one single payment to us as indicated covering the monthly payroll.
Each crew member under management will receive confirmation of their payment with a detailed salary slips sent by email.
We arrange onward payment of the salaries to each crew member. Crew members can choose to split their salary payment into multiple bank accounts or currencies and can request specific payments to alternate parties.
We ensure that before payment is made to a new crew member then that crew member will be “called back” to verify their banking details to avoid risk of payment errors and unnecessary delays.
Payroll is usually prepared on a monthly basis and involves a methodical in depth and accurate process that has been tried, tested and approved by both Owners and Captains as easy to understand and comprehensive.
I have been happy by Cornerstone’s reactivity in replying to my numerous emails and questions, always providing insightful answers to subjects as diverse as retirement, site use, regulations… I really appreciate having a preferential contact person which allows me to talk to someone who knows my historic details. It avoids repetition and time loss.
Serhat Yalcin – Yacht Captain
At Cornerstone, we know exactly what is required by people working on board yachts. We understand the importance of having a happy and motivated crew. We are constantly available to help crew members with any queries or concerns they may have. Ensuring the crew feel their interests matter is our priority.
Cornerstone can provide its clients with the following services:
Discharge book applications
Discharge book applications to the MCA or other authority.
Loan & mortgage assistance
Letters of support / employment confirmation to assist with loan or mortgage applications.
References & testimonials
Reference requests and PYA testimonials.
Life Insurance, Pensions & health insurance
Directions on how to seek advice on personal life insurance, pension schemes and medical health insurance.
Tax & insurance assistance
Directions to seek advice on meeting tax and social insurance obligations.
Payments are always made on time, without fail, and any queries are answered promptly; usually within the hour
J M Germa – Owner, S/Y Crossbow