Vessel Flag vs. Citizenship

[kev_rm]

US Citizen here.

Is there any benefit to flagging a new vessel outside of the US for a US citizen?

(I understand this may require setting up a foreign LLC/corp, not worried about that paperwork..)

[lamadriver]

well maybe... there could be some tax advantage. Not at my net worth or boat value though

If you plan on using the boat in the USA, it would be a pain, as you would need a cruising permit.

Different countries have different rules on citizenship and flags. There are plenty of Flag of convenience states and international yacht registers where you can have a foreign flag on your vessel.

Owned a boat on the LYIR in Malaysia at one point. It was easy and quick and the boat was lying outside the USA when I bought it. I eventually reflagged it to the US.