Part 1 Reg and insurance on new boat

[Moochos]

Hello

We are currently in the process of purchasing our first boat - a Jeanneau Leader 805, which we will be keeping in Denia Spain. We have been informed by our marine finance company that the boat has to be part 1 registered in the UK and that we need to get it insured by a UK company. I have been trying to find an idiots guide for this online without any success. Can anyone explain in simple terms what is involved. Eg why is it necessary to name a uk port? Does it matter which one we choose - as the boat will never go there? Also will we incur higher insurance costs being insured by a uk insurance company but only cruising in the med? Help please!!!

PS have already visited UK insurance company website and they assume we already know more than we do! We are UK resident novice boaters!!

 

[wotayottie]

You cann register in any port in the UK whether or not the boat goes there. It seems to be just to differentiate names eg" Littlefishingboat of Southampton" becomes different from "Littlefishingboat of Cardiff"

I assume you are using a British Finance company who obviously want a British registry and insurance in case something goe tits-up. But will the Spaniards accept that? They have some funny rules about boats permanently there being registered there and they also have some fruity taxes on visiting boats that stay over 6 months - which they sometimes apply and sometimes dont.

 

[Tranona]

All the information on registering a boat is on the MCGA website or you can call the registry office in Cardiff. It is straightforward (if a little pricy) for a new boat and there may be complications with an existing boat if it does not have good documentation. The RYA publishes a very useful little book on all aspects of buying a boat.

There is no problem insuring a boat with a UK company. All the major yacht insurers do it and give you the necessary documentation in Spanish.

Keeping a boat in Spain is straightforward if you are not a Spanish resident.

Suggest you read the RYA Taking Your boat Abroad on their website and they also have a brief explanation of the position in relation to resident's boats so you will see how important it is to ensure you are non-resident and only use your boat for limited holiday type periods.

 

[charles_reed]

Registering and insuring the boat in UK is quite simple - you've already been told how to do it.

However you need to be aware that if your boat is in (especially that part) Spain for more than 183 days in a year, the local provincia will charge you a swingeing tax.

This tax is different from the one that all residents importing a boat or car have to pay on first importation.

I suggest you research the subject more thoroughly, there have been long threads on this subject on Liveaboard Link and the CA site, and perhaps reconsider your options.