Importing yacht from USA

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macd

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I'm contemplating buying a yacht in the USA and importing it to Europe. I've searched scores of previous posts (and elsewhere) and gleaned good info. Am up to speed on RCD and most VAT issues. However, I would welcome input from anyone who has gone through this, in particular anyone who has paid VAT due on arrival in the Azores. I'm aware of the lower VAT rate there (now 15%, I believe), but there have been implications that the Azores authorities are fairly easy-going on their estimation of the vessel's VAT-able value. Anyone out here with direct experience of this?
Thanks.
 
Came back through the Azores in 2004, good friend of mine had bought a brand spankers Island Packet 435, circa $240k US, he went in to pay the VAT, and the chap was very easy going, my mate came back with a big smile on his face, basically the VAT man asked him how much he'd paid for the boat, me mate ummd and ahhd, told him the (or a) price and the VAT man 'worked it out' as the equivalent of 100k Euros, still a whack to pay, but could have been a lot worse.
 
Thanks for the input from French Guyana. More info like that from anyone who has it would be invaluable.

Thanks, but Malta isn't exactly on the way back from the USA.

RCD: no cunning plan, I just wouldn't buy anything that wasn't RCD exempt, i.e. if it was built in the EEA prior to 16 June 1998 or was in use in the EEA prior to the same date.
(Actually I'm not sure I strictly need RCD compliance since the boat would be registered outside the EEA (Isle of Man isn't in EEA) but not having it would probably give so many problems, both bureaucratic and when I came to sell.)
 
John, VAT rates in Malta are presently 18%. Interestingly, they apparantly operate a yacht lease-purchase scheme where very favourable VAT concessions are available. Snag is it seems it has to be thro' a local Maltese leasing company, ref. (http://www.legal-malta.com/maritime/eu-yacht-vat.htm) viz.

Yachts over 24 metres in length
Effective VAT 5.4%

Sailing yachts between 20.01 and 24 metres in length
Effective VAT 7.2%

Motor yachts between 16.01 and 24 metres in length
Effective VAT 7.2%

Sailing yachts between 10.01 and 20 metres in length
Effective VAT 9%

Motor yachts between 12.01 and 16 metres in length
Effective VAT 9%

Might be worth trying to do a deal with a Maltese Co to get the boat you want. However, it isn't clear if the boat would have to be manufactured in the EU or not.

Cheers, Ron.
 
Sorry, maybe I should clarify:
The point is that it's better to pay 15% on a boat valued at £40K than 13% on the same boat valued at £50K. There have been posts suggesting that some places, such as the Azores (historically popular, anyway, because of a lowish VAT rate), are 'helpful' in the way they value yachts.

Personally, if I were the UK VAT man I'd be falling over myself to undervalue imported yachts, which might encourage people to make a point of paying their VAT in the UK. After all, if somewhere else is known to be less punitive for us, the UK VAT man gets 17.5% of naff-all. What's the sense in that (no, don't tell me, I know: none)
 
Anyone know what Rod Heikell did about RCD on his new boat? His purchase of it was well publicised but no information on the formalities of importing it. Or did he take it to ao Turkey tpo avoid them? I see from the photos in the press that he flies a red ensign, so presumably has some form of British registration.

I met an American couple in Olbia, Sardinia in August. They had just had their boat transported from USA. Fortunately for them they had a British built boat but they had never even heard of RCD and nobody seemed to be around to claim it from them, nor VAT either.
 
I'm not entirely sure if the IOM has the same status as FG, in that it's considered part of the EU for some things, but not for others, (can't think of the exact wording), but I have a document from the MCGA that deals with importing boats from places like these, semi-eu if you will - I'll dig it out when I get back home and see if its relevant.
 
You hope! We (the UK) do everything by the book. I reckon the best you'd get here is 17.5% of what you paid - if you're very lucky. The Azores/Maderia option sounds a good bet if "generous" evaluations are made and I see, better, that is the evidence you're looking for. FWIW I considered importing some time back and got advice to make direct contact with the Revenue peeps, in my case Maderia, to agree a 'deal' in advance of the boat arriving.
 
Be careful with Azores. Check that the lower rate is applicable to you. I have heard it is only applicable to Azores, Madeira and Portugal residents. The true Portuguese rate is a painful 23%!
 
Chinita - your caution is well made for this whole area is a bu99ers muddle. I checked recently and it seems the 'islands' have a standard rate of 15%...but... That's one reason I was advised to make a personal contact in Maderia beforehand.
 
Yeah, we're not part of the EU but 'associate members' (which means the half-wits in power incorporate EU regs by rote, but we're ineligible for any benefits). We're not in the EEA, but we share a common VAT area with the UK. Local boats must be registered here, but may carry dual registry. Go figure -- maybe it's something in those kippers.
 
Hi I've looked at this long and often and what I can tell you is that every broker I've spoken to in the states has held up his hands and said, "Your on your own chum, can't help you". I wonder though if you bought a USA built Beneteau and sailed it back to the Med whether anybody would even bother to ask you "Was it made here or in the states chum". Trouble is, that's gambling.

Cheers,
Kristoria
 
That last post deals with the original request for details on the RCD status of the boat.
For VAT try Cyprus its 15% and honoured throughout the EU many of the other EU country Islands offer cheap VAT but it's not honoured elsewhere in the EU.
Kristoria
 
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