How to become a horse owner
How to become a horse owner
The racehorses’ owner capacity is granted by the Jockey Club of Greece (FEE) (http://www.fee.gr/index.asp), which is the supervision body of the races’ conduct and for the control of those involved in them (horse owners, trainers, jockeys).
In order for an individual or legal person to obtain the racehorses’ owner capacity and its distinguishing owner's colors, he/she shall submit to the Colors Provision Committee (EFP) of the Jockey Club of Greece the following:
- Application of the candidate owner with his/her details, along with his/her curriculum vitae.
- Information proving his/her financial ability to support horse ownership (such data shall remain confidential).
- A recommendation letter of three (3) active owners or of one (1) of the recognized ownership bodies of Greece.
- Statement of acceptance of the Code of racing and of the Horse Racing Provisions (FEE form).
- Type A Criminal Record (for judicial purposes).
- The above shall be accompanied by the one-off payment of the one hundred (100) EUR fee for the examination of the candidate owner’s folder.
If a candidate has been granted the racehorse owner capacity by a respective horse racing authority abroad, the application shall be accepted without submission of the necessary documents 2 and 3.
In case the application is approved, the new owner shall pay (one-off) the owner's colors granting fee, which amounts to three hundred (300) EUR, and then he/she will be registered to the Owner's Register of the Jockey Club.
In accordance with the applicable legal framework, individuals who own or jointly own up to five (5) racehorses, or hold ownership percentages in racehorses adding to a total of five (5) racehorses, are considered to be amateurs and are taxed individually, with a tax coefficient of 15% on the amount of every prize and are not obliged to keep accounting records/ books.
Alternatively, for the first time in Greece, the Syndication is being introduced. It’s a new and popular type of racehorses’ ownership, which provides those who love horses and the sport with the option to have an ownership share in a horse, and share the fun of the sport without bearing significant costs.
The main characteristics of the institution:
- Syndicates can be formed with up to ten (10) natural persons.
- The name of each Syndicate shall be decided by its members.
- An agreement corresponds to each horse, which shall be signed by all members.
- The Syndicate acts as the owner of the horse and all documents are issued in its name.
- All fees and charges imposed by the Jockey Club for the classification of the horse and the registration of the owner in the Owners' Register shall be paid by the Syndicate.
- Every member shall choose its participation percentage in the Syndicate. These rates may change/ be transferred by decision of its members.
- The members of the Syndicate shall appoint an Administrator to represent them. This person can be one of the members.
- In case the trainer of the horse is appointed as Administrator, another member of the Syndicate shall be obligatorily appointed to represent the latter before the Jockey Club and the Horse Races Operator (Horse Races S.A.).
- The Administrator has full power over the management of the horse and represents the members based on the articles of association of every Syndicate.
The supporting documents described above shall be submitted by the Syndicate and not by each member separately; the amateur owner regime applies to Syndicates as well, provided that each member owns or jointly owns up to five (5) racehorses, or holds ownership percentages in racehorses adding to a total of five (5) racehorses.
As to the rest, the following sections apply to the Syndicate institution as well.
A proposed syndication agreement can be found at the end of the text, which can be modified depending on the terms agreed between the members of each syndicate.
PURCHASE OF A HORSE
There are four ways to buy a horse in order to participate in horse races:
- Through a bloodstock agent;
- Through auctions;
- Through "claiming" races, in which the horses which are up for sale participate.
The owner may choose either a 6-month foal or a yearling, in order for the training of the horse to take place per the standards of the trainer whom the owner trusts; otherwise, the owner may choose an experienced horse, which has already proven its value, thus entering horse races more quickly.
The selection of colors is one of the main parts in the process of owning racehorses. There are 18 basic colors to choose from, which can be deployed in 27 different combinations in jackets, and nine different designs in caps.
Owner's "colors" are the pattern and the colors of the jacket, sleeves and cap worn by the jockey riding the owner's horses. These are unique to every owner and are the same for all his/her horses. The owner may choose one of the predetermined colors and patterns allowed, if they are not already taken by another owner.
Registering colors requires having first the racehorses owner capacity. After selecting the colors, FEE proceeds to the official written description of the colors selected.
The owner may choose, following mutual agreement, a trainer licensed by FEE for the training of his/her horse. The trainer undertakes the care, training and participation of the horse in horse races. He/she receives monthly subsistence expenses, usually set out in a private agreement. Generally, these include the feeding and stabling costs, the remuneration of stable attendants and trainers, the shoeing and the trainer's fee.
INSURANCE OF HORSE
The insurance of the horse is not mandatory, thus each owner makes the final decision on this matter.
NAME OF HORSE
The name of the horse is chosen freely by the owner. However, horses that already have a name, as most auction products, cannot have their name changed if they have already participated in horse races, either in Greece or abroad.
The naming of a horse is carried out through FEE, which is competent for keeping the Greek Stud Book.
The following criteria shall be met upon choosing the name:
The name shall not be more than 18 characters long, including spaces.
The name shall not be insulting, obscene, liable to cause confusion or similar to the name of an already registered horse.
The name of a public person may only be used with the written permission of the person.
Product or company names may only be used with the written permission of the company concerned (including movies or song titles).
The names of classic winners in international horse races are copyrighted and cannot be re-used. The names of other horses are protected for a limited period of time.
For more information on thoroughbred auctions, you can follow the links below:
For more information you may call:
HORSE RACES S.A.
Giota Kottara tel. 6975888026 email: firstname.lastname@example.org
Agelos Aliferis tel. 6986405260 email: email@example.com
Communication with FEE:
Vasilis Dimitroulis tel. 2299081335