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Old 26-07-2015, 04:52   #1
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Exporting a Med Boat to NZ

Hi all

Looking to purchase a boat currently in the Med. The tax has not been paid and the idea is to just pay the purchase price and ship it out. I realise I have to pay duty and GST once its in NZ but Im wondering how long I have to export the boat before being liable for tax. Also if I buy the boat in France and have to move it to Italy to ship it will I then be hit with tax at Italy.

Also I am a little curious as to how a boat can have tax not paid, apparently its a private boat never been in charter so I would have thought tax was payable when it was first purchased? If the owner was somehow able to defer tax for a set time threshold and that threshold is getting near would that also apply to me, as in owner deferred for 18 months decides to sell it at 17 months that leaves me 1 month to export it or else I have to pay the tax?

Anyone have knowledge of a scenario like this or at least be able point me to someone who does?
Thanks
Richard
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Old 26-07-2015, 11:10   #2
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Re: Exporting a Med Boat to NZ

If you are a non-EU citizen and the boat is deflagged and registered out of the EU you have more than 18 months to transit through EU countries. This time is renewable, Keep all of the boat owners history, registration,bill of sale papers on board
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Old 28-07-2015, 16:54   #3
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Re: Exporting a Med Boat to NZ

Quote:
Originally Posted by rkjbnz View Post
Hi all

Looking to purchase a boat currently in the Med. The tax has not been paid

Also I am a little curious as to how a boat can have tax not paid, apparently its a private boat never been in charter
Richard
this is not private boat,this is boat bay for company.or owner is outside EU.
what boat you baying more info pls.
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Old 29-07-2015, 02:19   #4
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Re: Exporting a Med Boat to NZ

Quote:
Originally Posted by rkjbnz View Post
Hi all

Looking to purchase a boat currently in the Med. The tax has not been paid and the idea is to just pay the purchase price and ship it out. I realise I have to pay duty and GST once its in NZ but Im wondering how long I have to export the boat before being liable for tax. Also if I buy the boat in France and have to move it to Italy to ship it will I then be hit with tax at Italy.

Also I am a little curious as to how a boat can have tax not paid, apparently its a private boat never been in charter so I would have thought tax was payable when it was first purchased? If the owner was somehow able to defer tax for a set time threshold and that threshold is getting near would that also apply to me, as in owner deferred for 18 months decides to sell it at 17 months that leaves me 1 month to export it or else I have to pay the tax?

Anyone have knowledge of a scenario like this or at least be able point me to someone who does?
Thanks
Richard
If you are a non-EU citizen, you will be required to de-register the vessel from it's current registry and re-register it under another flag.

In our case we bought a French registered vessel (Tax unpaid) and registered it as an NZ vessel. If we ever get the boat back to NZ, we will be up for GST on it (we have thought about trying the Resident Returning option to avoid this). At this stage, returning to NZ is a long way away.

In the interim, we continue to sail in and out of the EU where we are treated like any other foreign flagged vessel ie. we can enter and sail in the EU for 18 months before a VAT event is deemed to exist and to prevent that we just leave and reset that 18 month clock (we normally sail in Greece for 3 months and then move to Turkey (where the boat can remain for 5 years, but you have to renew the Transit log annually)).

There is a catch for Greece, where supposedly we can only sail for 6 months in any 12 month period or they may fine us (contrary to EU law, but that's Greece for you), but as we clear out every 3 months, we have yet to run into that issue.

Cheers, PT
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Old 07-09-2015, 04:15   #5
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Re: Exporting a Med Boat to NZ

I found out more about this particular boat.

It was launched in EU waters, owners are outside the EU and registered it in the BVI. Like I've said earlier no VAT was ever paid and have been told the owners take it out every year and reset the 18 month clock so I believe I shouldn't have to pay the VAT before I export it.

Last question I have is, will the transaction have to happen outside EU waters, I have read a few times now that the boat must be move to places like Gibraltar to make the sale. Can anyone confirm this is correct?

I have sort legal advice on this but so far none of the lawyers have responded.

Also anyone know a good lawyer who is clued up on EU purchasing who would be able to represent me?

Thanks
Rich




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Old 07-09-2015, 11:40   #6
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Re: Exporting a Med Boat to NZ

Quote:
Originally Posted by rkjbnz View Post
I found out more about this particular boat.

It was launched in EU waters, owners are outside the EU and registered it in the BVI. Like I've said earlier no VAT was ever paid and have been told the owners take it out every year and reset the 18 month clock so I believe I shouldn't have to pay the VAT before I export it.

Last question I have is, will the transaction have to happen outside EU waters, I have read a few times now that the boat must be move to places like Gibraltar to make the sale. Can anyone confirm this is correct?

I have sort legal advice on this but so far none of the lawyers have responded.

Also anyone know a good lawyer who is clued up on EU purchasing who would be able to represent me?

Thanks
Rich




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No transaction must be in EU water.
after you have bill for yacht also more information.is boat made on EU or other.
Some Frequently Asked Questions about the rules for private boats - European Commission
do you have
temporary importation document from custom.
Please,full information
boat made in country date
boat make temporary importation document. date,location,country
owner or company.no verbal answer from owner,what is in document
and you dont need lawer ,you need custom spedition agent from country wher you make export.

also you must have document for import boat in new zeland.
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Old 20-09-2015, 19:06   #7
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Re: Exporting a Med Boat to NZ

Quote:
Originally Posted by rkjbnz View Post
I found out more about this particular boat.

It was launched in EU waters, owners are outside the EU and registered it in the BVI. Like I've said earlier no VAT was ever paid and have been told the owners take it out every year and reset the 18 month clock so I believe I shouldn't have to pay the VAT before I export it.

Last question I have is, will the transaction have to happen outside EU waters, I have read a few times now that the boat must be move to places like Gibraltar to make the sale. Can anyone confirm this is correct?

I have sort legal advice on this but so far none of the lawyers have responded.

Also anyone know a good lawyer who is clued up on EU purchasing who would be able to represent me?

Thanks
Rich

Sent from my iPhone using Cruisers Sailing Forum
I've asked my sister who works in the industry over there and she advised the information about Gibraltar sounds correct as the vassal is flagged under BVI so both UK and no tax in Gibraltar. Double check this though with the UK authorities.

There are a lot of what if scenarios around this, so I would hold off until you get confirmation from BVI or UK on changing it over. NZ side will always have import tax and easy to get information about this sort of stuff so I would give them a call.

Make sure you use a foreign exchange broker like NZForex to convert your funds over if you do go ahead with he purchase as they will save you about 2% on the FX. Also they offer forward exchange contracts so you can lock in the rate for the future. Quote, "CruisersForum" in the how did you hear about the and your transfer fees waived.

Regards,

Ed
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