Are these the best countries to register a yacht to?
Cayman Islands
British Virgin Islands
Marshall Islands
Malta
Bermuda
Cayman Islands
British Virgin Islands
Marshall Islands
Malta
Bermuda
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Best countries to register a yacht to?
- Thread starter BritishSecret
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- register tax avoidance yacht
Top 10 flags of convenience by "tonage" in the year of 2021 are Panama, Liberia, Marshall Islands, Hong Kong, Bahamas, Singapore, Greece, Malta, China and Cyprus.
Top 10 flags of convenience by "registered" in 2022 are Panama, Liberia, Marshall Islands, Malta, Bahamas, Cyprus, St Vincent and the Grenadines, Madeira (in Portugal), Belize, Antigua and Barbuda.
I forgot what year but Liberia at one time was number one instead of panama because they were cheaper than the others and labor laws favored the owners rather than the workers.... I'm not sure if Liberia flag of convenience is sanctioned by some countries either nowadays and if there's any ramifications if there are any...
For yachts look into Cayman, Netherlands and BVI
Top 10 flags of convenience by "registered" in 2022 are Panama, Liberia, Marshall Islands, Malta, Bahamas, Cyprus, St Vincent and the Grenadines, Madeira (in Portugal), Belize, Antigua and Barbuda.
I forgot what year but Liberia at one time was number one instead of panama because they were cheaper than the others and labor laws favored the owners rather than the workers.... I'm not sure if Liberia flag of convenience is sanctioned by some countries either nowadays and if there's any ramifications if there are any...
For yachts look into Cayman, Netherlands and BVI
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Poland also has some interesting perks.
You should check the rules of your base port, VAT on fuel, whether you use your boat (for real or not
) as a commercial charter etc.
You should check the rules of your base port, VAT on fuel, whether you use your boat (for real or not
) as a commercial charter etc.
My understanding is there's a few reasonable loopholes regarding firearms on yachts e.g if you're literally anywhere near Somalia then you can legally hire people to come on board and be armed security, but yes even though I guess the country of registration will apply their rules when you're in international waters once you're in the waters of a country then you have to abide by their rules?
Let me know if I'm wrong though thanks
You are supposed to declare firearms on board when you enter territorial waters of most countries. The port authority usually requires that you surrender your arms until you depart, or they might allow you to keep them in safe storage onboard.
Most people who travel internationally do have a firearm onboard.
In some countries (for example St. Lucia) the captain is legally allowed to use lethal force even against passengers/crew members if they become a danger for the vessel.
It is advisable to obtain qualified advice from an admiralty lawyer on these and other matters when you decide to buy a boat.
Most people who travel internationally do have a firearm onboard.
In some countries (for example St. Lucia) the captain is legally allowed to use lethal force even against passengers/crew members if they become a danger for the vessel.
It is advisable to obtain qualified advice from an admiralty lawyer on these and other matters when you decide to buy a boat.
Depends what you going to do with it. If plan is to actually sail it and venture beyond 1st world countries would be worth considering registration with a decent registry like UK or Jersey. If you get into trouble anywhere it means the British navy coming to your assistance and the help of the British consulate.
Otherwise, if it’s just a tickbox exercise then Delaware can suffice. Langkawi is also cheap and easy.
Be aware that each registry stipulates criteria that need to be met. Some more onerous than others.
The EU has all sorts of vat implications.
Otherwise, if it’s just a tickbox exercise then Delaware can suffice. Langkawi is also cheap and easy.
Be aware that each registry stipulates criteria that need to be met. Some more onerous than others.
The EU has all sorts of vat implications.
How do you get around the VAT implications? I know newly built yachts just go to the UK for a bit, and then they go back into EU countries to then be sold.
And yes the plan is to actually sail it and venture beyond 1st world countries, so Jersey is good and? UK will probably have high taxes though, no?
why Netherlands?
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I heard that the Netherlands is more flexible straight forward, less stricter and faster than compared to it's European counterparts..... Especially if you're a EU citizen
By the way you ever heard the joke what a boat really means ..."Bust Out Another Thousand" lol Also the funny thing is ...the people that buy boats for retirement hardly ever use it lol Kind of like an old bike or a gym membership lol
I also don't see the Netherlands on any blacklist or greylist as far as I know....and besides there are 3 other dutch territorial Island countries that are part of the kingdom..
Aruba, Sint Maarten (the Dutch side not the French side) and Curacao
By the way you ever heard the joke what a boat really means ..."Bust Out Another Thousand" lol Also the funny thing is ...the people that buy boats for retirement hardly ever use it lol Kind of like an old bike or a gym membership lol
I also don't see the Netherlands on any blacklist or greylist as far as I know....and besides there are 3 other dutch territorial Island countries that are part of the kingdom..
Aruba, Sint Maarten (the Dutch side not the French side) and Curacao
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As usual with these "best country" questions, the best country to flag a yacht depends on your situation. It gets complicated. What kind of yacht? If you have a larged, crewed yacht, then some countries' flags may impose crew labor regs on the owner that you may find onerous. If you have a smaller, simpler yacht then finding insurance may be your single biggest challenge so you may wish to consider checking if the flag matters to your preferred insurance company. Whether you have to pay EU VAT on your yacht upon arrival may depend on whether you are tax resident in the EU. Some countries (e.g., Gibraltar) will only let you flag with them if you establish a company to own the yacht, which can provide a liability shield and other benefits, but which also can impose signficant annual costs. Having the "red ensign" from UK-related countries will win your more respect from port officials and others on your vogaging, and will document your ownership authoritatively, which could be useful if you wish to sell someday. Poland and especially Langkawi are currently popular with cruisers as very cheap and easy. Netherlands is getting more expensive. Caymans is good for asset protection but expensive.
Not aware of taxes associated with Jersey registration, but then my boat doesn’t stay in UK and I’m not a UK citizen. Might be different if you have either of those triggers.
Jersey registration looks more expensive upfront but its for 10 years so works out similarly priced to the “cheaper” registries. There are a number of prerequisites for registration such as valid tonnage certificates, survey etc. Consult an agent to check what the latest is to see if you meet the criteria. You do need a local address which your agent can provide for a nominal fee.
Another advantage is that Jersey allows joint shareholding, so from an estate planning perspective no inheritance tax, capital gains etc as ownership remains with surviving shareholder.
Irrespective of the registry you decide upon make sure you get a boat stamp. Third world officials love stamps!
Jersey registration looks more expensive upfront but its for 10 years so works out similarly priced to the “cheaper” registries. There are a number of prerequisites for registration such as valid tonnage certificates, survey etc. Consult an agent to check what the latest is to see if you meet the criteria. You do need a local address which your agent can provide for a nominal fee.
Another advantage is that Jersey allows joint shareholding, so from an estate planning perspective no inheritance tax, capital gains etc as ownership remains with surviving shareholder.
Irrespective of the registry you decide upon make sure you get a boat stamp. Third world officials love stamps!
Okay so Aruba, Sint Maarten and Curaçao may be as powerful as the regular Netherlands reg but with less taxes?I heard that the Netherlands is more flexible straight forward, less stricter and faster than compared to it's European counterparts..... Especially if you're a EU citizen
By the way you ever heard the joke what a boat really means ..."Bust Out Another Thousand" lol Also the funny thing is ...the people that buy boats for retirement hardly ever use it lol Kind of like an old bike or a gym membership lol
I also don't see the Netherlands on any blacklist or greylist as far as I know....and besides there are 3 other dutch territorial Island countries that are part of the kingdom..
Thanks, what's a boat stamp?
U want a nifty way to save on a boat ....lol use ur friends boat he or she hardly uses anyway lol
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