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Old 05-02-2017, 18:04   #1
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Foriegn flagged vessel?

So I find a boat I am interested in. Drive 4 hours to look at it and it is as described. It is a "classic" and as described and all in all I am interested in maybe trying to put something together. No offer yet. but as we are kind of closing the meeting up the owner tells me that it is under a British Flag has a Florida registration and numbers and all that looks ok,,,, but he is a dual citizen of US and Canada and he some how for some reason that isn't really clear to me at this point flagged it under British flag also says it is equivalent of a US documentation.

any idea of what I need to do or who I could contact to make sure title is free and clear Obviously the Florida title / registration would be pretty straight forward to check but I have never dealt with anything like this other

any advise or a suggestion of an attorney or a title service that could help would be appreciated thanks
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Old 05-02-2017, 18:33   #2
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Re: Foriegn flagged vessel ??

more info I live in Florida plan to keep boat in florida possibly cruise Bahamas, Caribbean
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Old 05-02-2017, 22:48   #3
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Re: Foriegn flagged vessel ??

Drakes,

You either hire a title search done, or do one yourself. His Brit registry is not transferrable to you. you have to be a Brit or have dual-Brit passport to have it.

Ann
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Old 05-02-2017, 23:35   #4
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Re: Foriegn flagged vessel ??

If the Brit reg is just an SSR number it will cancel itself in a 5 year period and as Ann said its not transferable So I would look closely at the Florida part !
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Old 06-02-2017, 00:13   #5
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Re: Foriegn flagged vessel ??

This may help. https://www.gov.uk/government/upload..._Rev_02.15.pdf
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Old 06-02-2017, 00:42   #6
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Re: Foriegn flagged vessel ??

are there not 3 things here, (1) clear title, no liens etc. (2) flagging and transferring from UK to US register, and (3) tax / VAT as maybe tax issues bringing into US or is that covered by Florida registration (I'm a brit so ???). If he purchased in Europe he may have decided to keep on British Flag as would be tax paid ? and therefore not had to deal with US tax issues given his dual citizenship, so while the registration bit maybe equivalent there maybe other issues.

Of course I maybe talking nonsense as I am not a tax expert but have been looking at something the other way round, a US flagged vessel, more out of curiosity, as will be in the market in a few years and so wanted to start to get my head around this type of stuff. There must be someone on here who has imported into US and registered. Sadly it all sounds like professional advice and legal / tax fees is needed. One thought is that another thread mentioned a buyers broker, if the guy selling has a broker then maybe a broker can help ?

If you work it out it would be good to post the answer here so others can use if they face similar issues.
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Old 06-02-2017, 05:35   #7
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Re: Foriegn flagged vessel ??

thank you for the help / comments. in my case i really am not knowledgeable or concerned about the VAT etc. just want to make sure i do t owe any tax or buy a bot that is otherwise encumbered by a lien somewhere.

i searched and found some title agencys. i will probably have to hire one for peace of mind. i will poat results. any references appreciated also
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Old 06-02-2017, 06:30   #8
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Re: Foriegn flagged vessel ??

Quote:
Originally Posted by drakes View Post
thank you for the help / comments. in my case i really am not knowledgeable or concerned about the VAT etc. just want to make sure i do t owe any tax or buy a bot that is otherwise encumbered by a lien somewhere.

i searched and found some title agencys. i will probably have to hire one for peace of mind. i will poat results. any references appreciated also
In Fort Lauderdale, Kelly Cool at Marine Documentation can help you.

Marine Documentation Inc
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Old 06-02-2017, 06:49   #9
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Re: Foriegn flagged vessel ??

Drakes,

There are three registers in the UK.

Part 1 records details of mortgages etc....and as such, it is usually aimed at the upper end of the market.

Part 3, the SSR (Small Ships Register) is for boats less than 24 metres, and does not record anything other than the most basic details. If your's on Part 3, then there should be a decal or label on the boat, something like SSR123456 .

I think I've managed to attach their contact details......they're a very friendly bunch, and I'm sure a quick call will resolve your issue.

Cheers,Eamonn
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Old 06-02-2017, 07:16   #10
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Re: Foriegn flagged vessel ??

Where was the boat built?

If non-US built has duty, if applicable, been paid on the vessel?

If US built you might have to re-import the boat. Strange but true.
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Old 06-02-2017, 11:48   #11
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Re: Foriegn flagged vessel ??

The chance of something going wrong costing lots of money and time are too great. Once you have a contract, subject to seller providing clear title, go a Marine Documentation service and let them deal with it. The last foreign vessel I dealt with took 2 months to close, and that was through a closing agent.

Malissa at Titling Services of Florida will discuss options with you before you commit. Titling Services of Florida, Inc. Home Page

727.573.1707
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Old 06-02-2017, 12:36   #12
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Re: Foriegn flagged vessel ??

Quote:
Originally Posted by Vasco View Post
Where was the boat built?

If non-US built has duty, if applicable, been paid on the vessel?

If US built you might have to re-import the boat. Strange but true.
Yes, check this out for sure because if it has not been imported into the US, I don't think he can legally sell it in the US. That's why you see the occasional "Boat for Sale" ad with the added comment "not for sale in the USA"

I make this comment because as a Canadian, I keep my boat in the state of Washington but, I cannot sell it there unless I pay about U$300 to US customs for paperwork to import it into the US first.
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Old 06-02-2017, 13:45   #13
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Re: Foriegn flagged vessel ??

Good comments and information from everyone. I'd do what they say. Put a deposit in escrow and hire a documentation specialist. Too many moving parts for a DIY.
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Old 06-02-2017, 14:34   #14
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Re: Foriegn flagged vessel ??

Why not to establish UK ltd. company and register in Part 1? The only headache is tonnage measurements.
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Old 06-02-2017, 15:39   #15
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Re: Foriegn flagged vessel ??

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Why not to establish UK ltd. company and register in Part 1? The only headache is tonnage measurements.
and all the uk corporate headache, paperwork then tax returns etc ?
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