What country is the easiest & cheapest to register your yacht for a US Citizen, outsi

[SitaRam]

What country is the easiest & cheapest to register your yacht for a US Citizen, outsi

Hi Folks
I have been trying to find the best country at the best price to flag my currently US Documented vessel-I want to move the registration offshore of the USA--Any help would be greatly appreciated

I am a US Citizen and have a currently US Documented Vessel of Delaware-sailing catamaran that I would like to register offshore from the USA-

• private use
• I sail in the Greek Islands mostly, but also out of the EU
• I don’t want to pay Vat - would like to bring this vessel back to America, sometime in the future under a foreign flag
• I want a country where the initial costs and yearly recurring costs are low and if I ever wanted to change the country of register or sell the vessel
that it would be easy to do so,
• What flag to choose and in which country to register your yacht?
• What is the cost to register the yacht and to maintain registration?
• The yacht is in n. Cypress and its 5 years old, getting a survey will not be easy until I return to the vessel in April of next year- do I really need a survey in a yacht this new?

 

[westernman]

I really have no idea but I would guess, depending on the value of the boat, that may be something like the Cook Islands might be interesting.

 

[BAtoo]

Might be worth a read..... http://thetriton.com/article/2009/0...ption-go-n-africa-after-malta-opts-join-europ

 

[Tranona]

You don't say why you want to register elsewhere from USA. Unless you go for one of the offshore registries such as Cayman Islands, registration is normally a function of residency or citizenship. On some registries you can establish a corporate body or nominate a representative to register.

However, for the way you describe your intended usage, state of registration is largely irrelevant. Registration and liability for VAT on the boat are mostly unconnected. Liability for VAT depends on whether you have imported the boat into the EU. If you are EU resident, the liability (plus compliance with RCD) starts as soon as you enter the EU, unless you qualify for one of the reliefs - most common being if you are taking up residency in the EU. If you are non -resident, you can apply for temporary importation without paying VAT. However, this is time limited and the boat must leave the EU at the end of the period. Usage of the boat is also limited for certain types of usage and by a limited range of people. You, of course, if non-resident are also limited in the amount of time you can stay in Europe by your visa conditions.

Many non EU residents minimise the inconvenience of these constraints by regularly moving in and out of the EU, although this is becoming more difficult as more countries (such as Croatia) are joining the EU.

You say the boat is in Cyprus. If it is in the south, then it is already in the EU and therefore liable for VAT unless you have got temporary importation. The north, of course is currently outside the EU, so you could use this as a base for visiting the Greek islands - applying for temporary importation every time you enter the EU.

You can get detailed information on VAT rules from HMRC VAT Notice No8. Although a UK government publication, the rules are the same across the EU - but you may find the basis for calculating the amount payable and the payment mechanisms vary. Note that if you do pay VAT it is not reclaimable if you subsequently export the boat - hence the importance of getting temporary importation.

If you are going to pursue registration elsewhere suggest you seek professional advice. As already suggested it is unlikely to make any difference to your ability to use the boat in the EU, but there may of course be other reasons why you don't want US registration.

 

[Bosun Higgs]

I see the boat is in north cyprus. You are a US citizen. If the sale transaction takes place in N cyprus then you wont be liable to EU vat but there may be local taxes. However when you subsequently bring the boat into the EU you do so as what the US authorities charmingly describe as an alien and you will have only a certain amount of time before you have to leave the EU or to formally import the boat and pay VAT on it. The enforcement of this depending on which bit of the EU you enter

However, it may be that the boat is currently owned by an EU citizen and is VAT paid. In that case make sure the buying transaction takes place within the EU when the boat will retain its VAT paid status. If this is the case then proper formal documentation of vat paid status is important.

As for countries of registration, the UK and its various offshore islands ( Channel Islands, Isle on Mann etc) have an unenviable reputation as flags of convenience and certainly there are almost no equipment rules etc that apply to yachts. Most other EU countries take seriously such things as required boat equipment

However, its all a complicated mess so best pay for and take some professional advice depending on how important the issue is to you.

Warning: in theory some rules are the same across the EU . In practise, enforcement varies from the rigid to the flexible ( for cash) with things getting more flexible the further south and east you go.

 

[Tranona]

Just to add a little bit to my earlier post. Not all registries require a survey, and in the case of the British Part 1 the age of the boat is irrelevant. The "survey" is just a formal measurement to calculate a Tonnage. It has do be done individually for each boat - even if there are others to the same design already measured and by a surveyor recognised by the Registrar.

Note that if you are going for an offshore registration (even the Channel Islands) you will still have additional limitations in some countries - particularly Greece where you will only get a permit for 30 days at time. There is no limit on a boat registered in the EU (although over 10m will still require a cruising log). Note these limits are independent of VAT status. For example there are UK owned boats that have paid VAT but registered in the Channel Islands. In Greece they are treated as non EU boats.

 

[Norman_E]

What is wrong with maintaining the Delaware registration? Delaware in fact provides the US flag as a flag of convenience. A lot of Turkish owned boats are Delaware flagged because Turkish registration is expensive.

 

[windfan]

Yacht Registeration

During the process of selling my British registered Catamaran to a citizen of the U S A, I learned that it is illegal for a U S A citizen to own a yacht/ship registered in another country. This would only be a problem on arrival in waters of the U S A.

 

[Pagetslady]

During the process of selling my British registered Catamaran to a citizen of the U S A, I learned that it is illegal for a U S A citizen to own a yacht/ship registered in another country. This would only be a problem on arrival in waters of the U S A.

How about one of the Channel Islands Jersey or Guernsey, both use the Red Ensign
no vat
Mike

 

[Tranona]

How about one of the Channel Islands Jersey or Guernsey, both use the Red Ensign
no vat
Mike

VAT and registration are unconnected. You can have a VAT paid boat in the UK with CI registration. Liability for VAT is determined by the nature of the transaction irrespective of the residency or citizenship of the owner, or where he chooses (if he has a choice) to register his boat.

For details of the type of transactions involving leisure craft that give rise to a VAT liability see HMRC No 8

 

[SimonJ]

Hi Folks
I have been trying to find the best country at the best price to flag my currently US Documented vessel-I want to move the registration offshore of the USA--Any help would be greatly appreciated

I am a US Citizen and have a currently US Documented Vessel of Delaware-sailing catamaran that I would like to register offshore from the USA-

• private use
• I sail in the Greek Islands mostly, but also out of the EU
• I don’t want to pay Vat - would like to bring this vessel back to America, sometime in the future under a foreign flag
• I want a country where the initial costs and yearly recurring costs are low and if I ever wanted to change the country of register or sell the vessel
that it would be easy to do so,
• What flag to choose and in which country to register your yacht?
• What is the cost to register the yacht and to maintain registration?
• The yacht is in n. Cypress and its 5 years old, getting a survey will not be easy until I return to the vessel in April of next year- do I really need a survey in a yacht this new?

I have met others in your position who have chosen the BVIs who seem to take a flexible approach. Good price too, they said.

 

[e_pugal]

hi

To register a offshore, it is not required to ship a vehicle to the place of registration – a photo, documents and a technical inspection certificate from a qualified mechanic in any country are sufficient to get the entire process carried out by courier.

Every vessel must ‘belong’ to one particular country to be subject to that country’s laws. These include the various International Conventions for ships and, in time of difficulty, the possibility to claim the protection of that country. The dictionary defines registration simply as the act of setting down formally in a written record. Almost every country in the world has such record for ships – its shipping registry. We provide Registration in St Kitts and Nevis Registration.

I hope this information would be useful for registration

 

[e_pugal]

registration

It is not required to ship a vehicle to the place of registration – a photo, documents and a technical inspection certificate from a qualified mechanic in any country are sufficient to get the entire process carried out by courier.

Every vessel must ‘belong’ to one particular country to be subject to that country’s laws. These include the various International Conventions for ships and, in time of difficulty, the possibility to claim the protection of that country. The dictionary defines registration simply as the act of setting down formally in a written record. Almost every country in the world has such record for ships – its shipping registry. We provide Registration in St Kitts and Nevis Registration.

With Regards
Paul
Offshore Services
registertaxfree.com

 

[alex.periera]

How about getting your boat registered in the hot spot of sailing, the Caribbean? Infact you can take full advantage of the St.-Kitts & Nevis’s legislation and its favorable tax regime. The process of getting your yacht registered is also very simple. We at registertaxfree.com, specialize in tax free registration services. All you need to do is to email us filled-in, signed and scanned application form for your registration and all accompanying documents, also in the digital format.This is all you would need for getting the Provisional set of St. Kitts & Nevis documents allowing your yacht to start operating under its flag.

You can contact us for any further questions and we will be only too happy to help you in every possible manner!

 

[Birdseye]

I guess you havent noticed that this thread is 3 years old. The OP has likely done something long ago.