Bahamas Question

[Sharky21]

I am looking to purchase a condo in the islands and wanted to know how that would work with a cruising permit. I am a US citizen and would be coming and going frequently. Do I need to buy a new permit every other trip? Is there a better way?

[marvin coleby]

That's a good question. I'll call and check that information for you in the morning.

[marvin coleby]

I call Bahamas Customs today and the lady I spoke with said that the best thing for you to do is pay a 5% duty on your boat and 1% processing fee and have it registered in the Bahamas so that way when you return to your second home here you would only pay $10 instead of the $300 cruising fee for 90 days.

[rockDAWG]

Originally Posted by marvin coleby

I call Bahamas Customs today and the lady I spoke with said that the best thing for you to do is pay a 5% duty on your boat and 1% processing fee and have it registered in the Bahamas so that way when you return to your second home here you would only pay $10 instead of the $300 cruising fee for 90 days.

That is not an easy path forward

For a $150,000 boat, it will take $9000 to get the Bahamas registration. For $9000, you can pay 30 times of the cursing fee which is equivalent to 2700 day stays in Bahamas. It will take you 7.4 years to break even assuming that you would sail in Bahamas water for that long.

[pete33458]

Originally Posted by rockDAWG

That is not an easy path forward

For a $150,000 boat, it will take $9000 to get the Bahamas registration. For $9000, you can pay 30 times of the cursing fee which is equivalent to 2700 day stays in Bahamas. It will take you 7.4 years to break even assuming that you would sail in Bahamas water for that long.

Nicely done!

[zboss]

Who says your boat is worth 150K? Maybe its worth 50K? Maybe 25K? DO they make you get an appraisal?

No, customs performs a valuation. Let them tell you how much the boat is worth... it may be worth a whole lot less than 150K, especially when you tell them how old everything is and how badly it needs to be replaced, plus the bad market for boats in the Bahamas.

[Sun and Moon]

Originally Posted by rockDAWG

That is not an easy path forward

For a $150,000 boat, it will take $9000 to get the Bahamas registration. For $9000, you can pay 30 times of the cursing fee which is equivalent to 2700 day stays in Bahamas. It will take you 7.4 years to break even assuming that you would sail in Bahamas water for that long.

Oh the pleasures of being poor!
My boat is worth about $5000, so I need pay only $300 to import. Being under 30 feet, my cruising permit is only $150, so importing will break even after just 2 trips!

But this plan registers the boat in the Bahamas. What happens when you bring the boat back to the US? Can a boat have dual registration? Maybe Bahamas registration and Florida registration? Has anyone dealt with this?

[rockDAWG]

Originally Posted by Sun and Moon

Oh the pleasures of being poor!
My boat is worth about $5000, so I need pay only $300 to import. Being under 30 feet, my cruising permit is only $150, so importing will break even after just 2 trips!

But this plan registers the boat in the Bahamas. What happens when you bring the boat back to the US? Can a boat have dual registration? Maybe Bahamas registration and Florida registration? Has anyone dealt with this?

Sorry, I thought everyone here is rubbing elbow with Donald Trump.

[Sharky21]

Here's my problem, I have a 36 ft custom Carolina boat ($500,000 value). So the import fee really wouldn't be practical. I guess $300 every other trip it is.

[Capt.Alex]

Or, leave the boat in the Bahamas and fly back and forth...saves a lot in fuel and wear and tear. You just need to be sure you have a secure place to leave it. You can get a 1 year cruising permit and only pay the $300 once.


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[Sharky21]

But then I'm stuck with only the skiff at home ��