The EU has passed a new Package Travel Directive (the "New Directive") EU Travel Directive (EU) 2015/2302 that expressly requires the insolvency protection imposed on all EU members including companies registered in Croatia. The law is set to come into force 01 July 2018. This means that all yacht owners will need to have a full financial protection in case of the insolvency which is an equivalent to ATOL scheme in the UK.