Yacht registration advice needed.
Discussion
Hi
I'm considering purchasing a yacht in St Vincent which is curently US registered. When I purchase it, as a UK resident, it will have to be de-registered from the US Coastguard list.
I plan to keep the yacht in the Caribbean for the next 2- 3 years where it will be chartered out (it's already with a company in St Vincent) but after that I might bring it back to the UK.
Any suggestions as to where would be best to register the yacht? I will speak to the broker. charter agent, surveyor, etc but would like to hear any thoughts people on here have.
The yacht is a 1999 Jeanneau Sun Odyssey.
Thanks all.
I'm considering purchasing a yacht in St Vincent which is curently US registered. When I purchase it, as a UK resident, it will have to be de-registered from the US Coastguard list.
I plan to keep the yacht in the Caribbean for the next 2- 3 years where it will be chartered out (it's already with a company in St Vincent) but after that I might bring it back to the UK.
Any suggestions as to where would be best to register the yacht? I will speak to the broker. charter agent, surveyor, etc but would like to hear any thoughts people on here have.
The yacht is a 1999 Jeanneau Sun Odyssey.
Thanks all.
Ta-da!!
Given the size and value of the boat, in relation to the costs involved in employing lawyers or other advisers overseas, I would keep things simple for now, and register in the UK. You’ll still need to have her surveyed and ‘coded’ for commercial use – but life’s a lot simpler when you can look up the rules and regulations online if need be.
It also keeps things simple with insurers, too – meaning a wider a choice and a lower premium.
There are 'clever' VAT-avoiding schemes around. Malta and the Isle of Man are current favourites, but, again, given the costs involved in setting these up and maintaining them (and the goalposts are constantly moving, too), none of these would be viable for a vessel of this size and value.
Also, do your sums carefully when thinking about bringing here back across the Atlantic. Whether sailing across, or being taken as deck cargo or on one of the Dockwise vessels, the costs can be staggering. It be worth selling in the Caribbean (the UK flag will have added value) and buying a VAT-paid vessel in the EU later.
Given the size and value of the boat, in relation to the costs involved in employing lawyers or other advisers overseas, I would keep things simple for now, and register in the UK. You’ll still need to have her surveyed and ‘coded’ for commercial use – but life’s a lot simpler when you can look up the rules and regulations online if need be.
It also keeps things simple with insurers, too – meaning a wider a choice and a lower premium.
There are 'clever' VAT-avoiding schemes around. Malta and the Isle of Man are current favourites, but, again, given the costs involved in setting these up and maintaining them (and the goalposts are constantly moving, too), none of these would be viable for a vessel of this size and value.
Also, do your sums carefully when thinking about bringing here back across the Atlantic. Whether sailing across, or being taken as deck cargo or on one of the Dockwise vessels, the costs can be staggering. It be worth selling in the Caribbean (the UK flag will have added value) and buying a VAT-paid vessel in the EU later.
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