BVI Best for Registering a Sailboat?

[la reverie]

1. I have been doing a lot of research, and I have come up with British virgin island as the best place to register my boat in the future, but am I right?
Annual maintenance fee is $100+YBDSA tonnage survey, but you can get a 6 months grace period for the survey and do it in BVI instead of USA.

2. How about Guam? new or renewal is $20 a year.

3. I will probably use the boat around Thailand and Malaysia later and sell it there too, and using cruising permits in these countries. Any problems selling a boat in Asia that is registered in BVI or Guam?

4. Also, I read this at slapdash"If our boat was registered in St. Lucia and we had Canadian passports and were trying to enter Nicaragua you can imagine how complicated things could get." Will there really be complications for me when I enter different countries with a boat with different nationality from me? I cannot really understand the problem as long as the boat is registered in my name.

5. Is there really any downside, expect that you need cruising permit in the country you will be using the boat at?

I'm an European citizen, so there should be less trouble doing the registration myself than for Americans for BVI. I will purchase the boat in USA btw, and probably Gemini 105MC.

I do not want to set up a company, so that exclude some places and countries too. I will just list different countries I have looked into:
* Panama, seems expensive, $1,500 over 2 years, I think.
* Cayman expensive, $400 per year +++
* Bahamas, 10% import duty
* Malta, 5.4% VAT of more.
*Other excluded: Gibraltar, Vanuatu
*Thailand, expensive if you don't have a work permit and right visa
*Malaysia, maybe 10-15% of boat value in registration fee.

[Lagoon4us]

There's a heap of info in this thread as well as a couple of others recently:-

Under What Flag Would You Register ?

Cheers we went for Australian it was very simple, one off 1200 dollars done in 3 weeks!!!!

[tamicatana]

the link to which Lagoon4us refers

I need to read the whole thread, but CG documentation is $30 something a year, is it not?

[Lagoon4us]

Thanks

When you do this you need to look at where you'll be travelling overseas. Some countries it would not be cool to visit with other particular registrations.

Cheers

[Whaubner]

I always looked at the size of the country's world navy presence. British xxx and US seem like good Choices to me.

[la reverie]

Originally Posted by Lagoon4us

Thanks

When you do this you need to look at where you'll be travelling overseas. Some countries it would not be cool to visit with other particular registrations.

Cheers

Can you please name some countries which is not good to visit with BVI registered boat?

[Lagoon4us]

I was referring to your other choices that you mentioned. Malta, Thai etc

Cheers

[la reverie]

So you are saying, that I cannot get a cruising license for Thailand with a BVI registered boat?

I don't care about Malta, I am only going around Caribbean and as fare as Thailand if everything goes as planned.

[Lagoon4us]

Sorry? I don't believe i said anything like that, i simply said be cautious picking a country to register your boat to with respect to where you intend travelling....

Cheers

[la reverie]

Originally Posted by Lagoon4us

There's a heap of info in this thread as well as a couple of others recently:-

Under What Flag Would You Register ?

Cheers we went for Australian it was very simple, one off 1200 dollars done in 3 weeks!!!!

That thread did not really answer any of my question, and I cannot find the answers via google. There must be someone here that has registered a boat in BVI before or Guam. I am more interested in Guam.

[Lagoon4us]

I'm sure there will be, i see a lot go for Marshall Islands, must be a reason.
Cheers

[CeesH]

Originally Posted by la reverie

1. I have been doing a lot of research, and I have come up with British virgin island as the best place to register my boat in the future, but am I right?
Annual maintenance fee is $100+YBDSA tonnage survey, but you can get a 6 months grace period for the survey and do it in BVI instead of USA.

2. How about Guam? new or renewal is $20 a year.

3. I will probably use the boat around Thailand and Malaysia later and sell it there too, and using cruising permits in these countries. Any problems selling a boat in Asia that is registered in BVI or Guam?

4. Also, I read this at slapdash"If our boat was registered in St. Lucia and we had Canadian passports and were trying to enter Nicaragua you can imagine how complicated things could get." Will there really be complications for me when I enter different countries with a boat with different nationality from me? I cannot really understand the problem as long as the boat is registered in my name.

5. Is there really any downside, expect that you need cruising permit in the country you will be using the boat at?

I'm an European citizen, so there should be less trouble doing the registration myself than for Americans for BVI. I will purchase the boat in USA btw, and probably Gemini 105MC.

I do not want to set up a company, so that exclude some places and countries too. I will just list different countries I have looked into:
* Panama, seems expensive, $1,500 over 2 years, I think.
* Cayman expensive, $400 per year +++
* Bahamas, 10% import duty
* Malta, 5.4% VAT of more.
*Other excluded: Gibraltar, Vanuatu
*Thailand, expensive if you don't have a work permit and right visa
*Malaysia, maybe 10-15% of boat value in registration fee.

About a year agoo I went trough the same exercise. At that time, for Europeans, the cheapest for a full registration was Jersey. Renewal every ten years and no anual fee.

Good Luck
CeesH

[zboss]

I am a US citizen with a home in the BVI. We keep our boats registered in the USVI if that gives you any idea what pain dealing with a BVI entity can be. There just is not any real advantage for us.

IMO - Unless you are keeping the boat permanently in the BVI it doesn't make sense to register it there. You should register it in your home country.

[la reverie]

Originally Posted by zboss

I am a US citizen with a home in the BVI. We keep our boats registered in the USVI if that gives you any idea what pain dealing with a BVI entity can be. There just is not any real advantage for us.

IMO - Unless you are keeping the boat permanently in the BVI it doesn't make sense to register it there. You should register it in your home country.

But your problems are due to your country of origin right? I'm European, so I think I only need to get a tonnage survey, send the right papers and give a little bit of money. I would prefer a country where I don't need tonnage survey though.

[zboss]

Originally Posted by la reverie

But your problems are due to your country of origin right? I'm European, so I think I only need to get a tonnage survey, send the right papers and give a little bit of money. I would prefer a country where I don't need tonnage survey though.

I suppose - US taxes their citizens no matter where they or their property lay. No tax advantages anymore. Even as a property owner in the BVI I still have to leave the country every 6 months (technically although if you ask nice enough, they will extend your paperwork).

Also - as a previous poster pointed out... its easier to have usa paperwork and a usa owner. Its just easier to keep the boat registration in the USA although I spend 6-9 months a year in the BVI.