Italian owned Yachts flying other countries Flags.

[Ian Streten]

Why are so many Italian owned yachts flying other countries flags? Yes, it is most probably there way of getting round the recently introduced Italian tax that the Guardia de Finanzia are checking up on all Italian registered craft. One has to ask the question is it legal for a boat to fly another countries flag & if it is illegal how should it be policed. The big problem that is occurring whilst cruising in Italian waters is that all boats, whatever flag they are registered under are being subjected to visits from the Guardia under the supposition that they are in fact Italian owned & flying the incorrect flag. This is becoming an ever increasing problem


Sent from my iPad using Cruisers Sailing Forum

[JPA Cate]

Reframe how you think about it. It isn't really a problem, just show them your boat papers, chat them up a bit, and you'll soon be on your way.

The nicer you are to them the better their impression of all foreign yachties will be.

Ann

[sergiofil]

For the same reason FIAT has its legal domicile in the Netherlands and its fiscal one in London.

[savoir]

What's the problem? The most common flag in Newport RI is Cayman Islands and the owners could be from anywhere.

[beneteau-500]

This is old news it's all about how the Italian nationals have paid for the yacht/boat weather it be they have financed , leased etc and if they own things above the declared income not about the flag

[miyagimoon]

Originally Posted by Ian Streten

Why are so many Italian owned yachts flying other countries flags? Yes, it is most probably there way of getting round the recently introduced Italian tax that the Guardia de Finanzia are checking up on all Italian registered craft.


Sent from my iPad using Cruisers Sailing Forum

We have some friends he's Italian and she is Turkish their yacht is Belguim Registered. When asked why they said the rules imposed if it was Italian Registered were far more stringent and consequently expensive as compared to other countries.

[alansmith]

Make sure the Sicilians don't get your IP address. Smile

[bikesherpa]

Hi,
As miyagimoon wrote, the main reason for Italians to fly another country's flag is that the rules imposed are far more stringent and consequently expensive as compared to other countries. In the bast majority of cases, there are no tax benefits .
For example, for my Italian registered yacht, I have to spend about €700 euro every 2 years to do an inspection check of the 8 pax ocean lifecraft, simply because Italy has amended the ISO 9650 norm and created a local version of it and therefore I cannot use a standard 9650 lifecraft. This is just an example of many other aggravations we are subjected to.

[tim_burley]

Originally Posted by bikesherpa

Hi,
As miyagimoon wrote, the main reason for Italians to fly another country's flag is that the rules imposed are far more stringent and consequently expensive as compared to other countries. In the bast majority of cases, there are no tax benefits .
For example, for my Italian registered yacht, I have to spend about €700 euro every 2 years to do an inspection check of the 8 pax ocean lifecraft, simply because Italy has amended the ISO 9650 norm and created a local version of it and therefore I cannot use a standard 9650 lifecraft. This is just an example of many other aggravations we are subjected to.

Good grief do you honestly think most Americans who own merchant ships live in Panama, how about Marshal islands they must be full of ship owners, or should we mention Liberia! flag has nothing to do with domicile, just tax's and certification