Not happy ... Latvian Registry vs Swedish

[Refueler]

I am hearing rumblings of Latvian Govt changing the rules about Registry and boats that stay in Latvian harbours.

Swedish Cruising Assoc has permission from Swedish Authorities to issue International Certificate of Registry for boats even if not owned by Swedish Nationals ... as long as owner is member of Assoc.
This then allows radio licence / MMSI etc. via Swedish Authority. No inspection or surveys needed.
Cost is peanuts ... basically admin ... and renews each 2 years. Cost for all is about 60 - 70 euros.

Many boats in Latvian Marinas are Swedish registered but like me - Latvian Residents ...

Latvian Registry for my 38 will be over 500 euros - but for life unless I declare any commercial use - then its annual. You can imagine that people are reluctant to pay such price when Swedish can do it for about 1/10th the cost .. albeit bi-annual .. still it would take 10 years to catch up.

The rumblings are that Latvia will require many of us to take Latvian Registry ... at present all is unclear - so we are watching closely ...

For my situation - I am planning anyway to go Latvian Reg. next year as the boat was bought via my Latvian Co. and my accounts mgr is doing her nut that its Swedish Registry ... putting the money as advance against my name ..

Its part of the reason I haven't entered MMSI into my new radio yet !!

 

[Irish Rover]

I am hearing rumblings of Latvian Govt changing the rules about Registry and boats that stay in Latvian harbours.

Swedish Cruising Assoc has permission from Swedish Authorities to issue International Certificate of Registry for boats even if not owned by Swedish Nationals ... as long as owner is member of Assoc.
This then allows radio licence / MMSI etc. via Swedish Authority. No inspection or surveys needed.
Cost is peanuts ... basically admin ... and renews each 2 years. Cost for all is about 60 - 70 euros.

Many boats in Latvian Marinas are Swedish registered but like me - Latvian Residents ...

Latvian Registry for my 38 will be over 500 euros - but for life unless I declare any commercial use - then its annual. You can imagine that people are reluctant to pay such price when Swedish can do it for about 1/10th the cost .. albeit bi-annual .. still it would take 10 years to catch up.

The rumblings are that Latvia will require many of us to take Latvian Registry ... at present all is unclear - so we are watching closely ...

For my situation - I am planning anyway to go Latvian Reg. next year as the boat was bought via my Latvian Co. and my accounts mgr is doing her nut that its Swedish Registry ... putting the money as advance against my name ..

Its part of the reason I haven't entered MMSI into my new radio yet !!

Re the bit in bold I did this many years ago and then discovered that if the boat was owned by a Turkish company it needed to have a commercially licensed skipper on board at all times when out of the marina.

 

[MontyMariner]

Commonly called 'Working the system'

 

[rogerthebodger]

Have you considered Polish Registration as it is a one time registration and does not need renewing

 

[dunedin]

Why the company ownership of a leisure yacht?
That tends to set all sorts of alarm bells running in many jurisdictions, unless clearly a charter or school boat. Certainly would attract stronger tax man attention to the company books in the UK.

 

[Refueler]

Have you considered Polish Registration as it is a one time registration and does not need renewing

Makes no odds ... Latvian Register is p***** off that no-one wants to pay the high fees ... it will affect not only Swedish registry boats here.

I'm talking to my mate who owns a yard and he's not happy ... his boat is Swedish !!!

 

[Refueler]

Why the company ownership of a leisure yacht?
That tends to set all sorts of alarm bells running in many jurisdictions, unless clearly a charter or school boat. Certainly would attract stronger tax man attention to the company books in the UK.

Long story .. but in a nutshell - it was supposed to be paid via offshore company account .. but we could not transfer such sum as it was over the limit - incurring money laundering questionnaires etc. which prompted bank to decline the payment ... we transferred in stages the money via onshore accounts ... which resulted in it being local company purchase .... that's as detailed as I will post .....

We do not launder money before anyone gets on that train. But I am owner of a business that because of the market it operates in - is subject to scrutiny way above anything most of you guys can imagine. Nuff said.