Greek or UK flag??

[DenGR]

I'm in the process of purchasing and keep a 12m private (not charter) yacht in Greece.

What is the main advantage of having a Greek flag vs a UK one? any proposals or other information?

Also, pay the VAT in Greece or not - that is the question. Please let me know, thank you all.

 

[Irish Rover]

More information needed.
Is the boat definitely VAT NOT ALREADY PAID?
Where are you resident?
How much time do you intend to stay in Greece each year in future?

 

[sailaboutvic]

I would look ery carefully if your British rep a boat under Greek flag , for one they have a lot more rules then we have so ou need to look what they are , p,us I can't see and advance .
What your reason for wanted to reg it under Greek flag ?

 

[Graham376]

I'm in the process of purchasing and keep a 12m private (not charter) yacht in Greece.

What is the main advantage of having a Greek flag vs a UK one? any proposals or other information?

Also, pay the VAT in Greece or not - that is the question. Please let me know, thank you all.

You say a "private" yacht so, why is VAT due - is it new? If it's an import from outside EU, is it RCD compliant? If VAT is due for some reason, I suspect you, as an EU resident, will have to pay it in Greece.

I've no idea about benefits or otherwise of Greek flag.

 

[sailaboutvic]

Graham it may be a ex charter boat , which is why vat is due , but the op is using it has a private boat . Not clear

 

[AndrewB]

The VAT status of my UK registered yacht kept in Greece since 2010 is a bit dubious (it is "considered VAT paid" in the UK, but no receipt). But Greek authorities have never taken the slightest interest, possibly because the yacht is quite old. Of course, an issue may arise when I want to sell, and perhaps when Brexit finally happens, but in the mean time 'let sleeping dogs lie'.

 

[RichardS]

Graham it may be a ex charter boat , which is why vat is due , but the op is using it has a private boat . Not clear

I think that is right. It's probably either an ex-charter boat or a private boat that was owned by a company.

I also agree with you that it's probably better to register the boat on the SSR in the UK, unless there is some exclusion from the TEPAI for Greek registered boats. I'm sure that the VAT will still need to be paid in Greece if that's where the sale is taking place, unless the OP can arrange a legal handover in international waters and then sail somewhere else.

Richard

 

[DenGR]

More information needed.
Is the boat definitely VAT NOT ALREADY PAID?
Where are you resident?
How much time do you intend to stay in Greece each year in future?

I'm in the process of purchasing and keep a 12m private (not charter) yacht in Greece.

What is the main advantage of having a Greek flag vs a UK one? any proposals or other information?

Also, pay the VAT in Greece or not - that is the question. Please let me know, thank you all.

I think that is right. It's probably either an ex-charter boat or a private boat that was owned by a company.

I also agree with you that it's probably better to register the boat on the SSR in the UK, unless there is some exclusion from the TEPAI for Greek registered boats. I'm sure that the VAT will still need to be paid in Greece if that's where the sale is taking place, unless the OP can arrange a legal handover in international waters and then sail somewhere else.

Richard

it is an ex-charter boat operating in Greece. I will purchase and keep in Greece for private use for 3-4 months per year (yes, semi-retired). The VAT is not yet paid, but, I'm intending to pay Greek VAT during the purchasing process. I'm a dual national GR & UK.
What is the advantage vs operating cost for UK flag? and, what is the port-BREXIT challenges?

 

[DenGR]

It is an ex-charter boat operating in Greece. I will purchase and keep in Greece for private use for 3-4 months per year (yes, semi-retired).
The VAT is not yet paid, but, I'm intending to pay Greek VAT during the purchasing process.
I'm a dual national GR & UK.
What is the advantage vs operating cost for UK flag? and, what is the port-BREXIT challenges?

 

[Irish Rover]

Assuming you are ordinarily resident in the UK you could wait until 01 Jan to complete the sale and save having to pay the VAT. Only downside you'd have to take it out of the EU once every 18 months (actually if you only use it 4 months per year and keep it on the hard the rest of the year you only need to take it out of the EU once every 4 years provided you.lodge the transit log with customs while you're ashore). You could still have a UK flag on SSR.

 

[Graham376]

Assuming you are ordinarily resident in the UK you could wait until 01 Jan to complete the sale and save having to pay the VAT. Only downside you'd have to take it out of the EU once every 18 months (actually if you only use it 4 months per year and keep it on the hard the rest of the year you only need to take it out of the EU once every 4 years provided you.lodge the transit log with customs while you're ashore). You could still have a UK flag on SSR.

Just seen he is also resident in Greece so I think VAT would be due there.

 

[Irish Rover]

Just seen he is also resident in Greece so I think VAT would be due there.

He says he is a dual national which is not the same as being resident in Greece (actually I don't think you can be ordinarily resident in 2 countries at the same time). That's why I started my post as I did.

 

[sailaboutvic]

He says he is a dual national which is not the same as being resident in Greece (actually I don't think you can be ordinarily resident in 2 countries at the same time). That's why I started my post as I did.

I think we need the full story before helping , it's another bits and pieces posting .
The question is is he a British and got residency in Greece to get over the 90/180 or is he partly Greek .
That's all going to make some difference

 

[Irish Rover]

I think we need the full story before helping , it's another bits and pieces posting .
The question is is he a British and got residency in Greece to get over the 90/180 or is he partly Greek .
That's all going to make some difference

His post was very clear to me regarding his nationality - he says he has dual Greek and UK nationality. The outstanding issue is to determine where he is ordinarily resident. If he spends more than 6 months of the year in the UK he will be considered resident in the UK. If he spends more than 6 months in Greece [or a combination of Greece plus other EU countries] he will be considered resident in the EU.
I agree however it would be much better to get the full facts first [or early at least] to avoid unnecessary speculation and confusion.