Spiro Latsis, the head of the Latsis Group, which is a major shareholder of Swiss-based private banking group EFG International, is behind a...

Spiro Latsis, the head of the Latsis Group, which is a major shareholder of Swiss-based private banking group EFG International, is behind a new exclusive club for the very wealthy, called PrivatSea.

PrivatSea offers its members access to some of the most prestigious yachts in the world, including the Latsis-owned boat, Alexander, the fourth-largest privately-owned yacht in the world. Membership also provides access to exclusive sporting events, clubs and major social events.

According to the Sunday Telegraph those who have signed up include Prince Albert of Monaco, Yves Piaget, the Swiss watches and jewellery tycoon, and the family of Victor Pastor, the Monaco property magnate.

The joining fee for the new club is £12,000 ($21,205) and members can then choose one of four membership levels, costing annually from £100,000 to £800,000.

The membership will be limited to 100, according to the club.

“We have a strict screening process,” Phillipe Lamblin, the club’s chief executive, told the Sunday Telegraph.

“We need to know not only the extent of their wealth but where it came from. We don’t want to be stuffy or pompous, but we want the right people.”

Products and services being offered to the seriously wealthy are becoming more numerous. Last week WealthBriefing reported on a new magazine launch for the super-rich called the Spear Wealth Management Report.

Like PrivatSea, the Spear Wealth Management Report is only available to the very wealthy and through invitation only.