Taxes for Buying Second Hand , VAT Not Paid , Boat in Martinique

[Piscis]

Old thread.... one more question...

Let´s say i found a nice boat in EU waters. As i am EU citizen, with EU resident, i would have to pay the VAT of the country the boat is berthed and i am purchasing it, in case the boat is not VAT payed (like most of the cats in the med, as they come out of charter).

Let´s say i found a nice Yacht in Greece for 300.000 US$. VAT there would be 24%. So 72.000 US$ for Mr. Alexis Tsipras and his socialists party... Ups...


Now... my many year long partner (girlfriend, wife or whatever) is citizen and have resident outside EU wonderland. Wouldnt it just be the most easy way to have her buy me my boat, register it under her name and flag it in her (outside EU wonderland) country?

Anything wrong with that?

Thanks!

John

[Kenomac]

Originally Posted by Piscis

Old thread.... one more question...

Let´s say i found a nice boat in EU waters. As i am EU citizen, with EU resident, i would have to pay the VAT of the country the boat is berthed and i am purchasing it, in case the boat is not VAT payed (like most of the cats in the med, as they come out of charter).

Let´s say i found a nice Yacht in Greece for 300.000 US$. VAT there would be 24%. So 72.000 US$ for Mr. Alexis Tsipras and his socialists party... Ups...


Now... my many year long partner (girlfriend, wife or whatever) is citizen and have resident outside EU wonderland. Wouldnt it just be the most easy way to have her buy me my boat, register it under her name and flag it in her (outside EU wonderland) country?

Anything wrong with that?

Thanks!

John

Nope, other than the fact that you won't own the boat if something goes wrong.

[Sand crab]

Originally Posted by Kenomac

Nope, other than the fact that you won't own the boat if something goes wrong.

+1

[Rapanui]

The critical factor is not that you are an EU citizen i.e. have an EU passport but whether you are resident in the EU. If you reside in the EU irrespective of nationality, the vessel must have freedom of circulation status which generally means VAT has been paid. If you are an EU citizen residing outside EU you get treated as any vessel from outside EU and you will be subject to 18 month rule but will need proof of residence if challenged.

[Pete7]

If you buy a yacht in the EU that has no VAT (or it has been reclaimed by a business) say an ex charter boat, then someone is paying VAT on it straight away at the point of sale to you. The Greek company selling it certainly has to charge VAT to sell it to you. If you buy it outside the EU then you might be able to buy it without paying VAT, but choose carefully, there may be other local taxes. However, the minute you bring it back into the EU, then wallop, VAT is due.

Pete

[Piscis]

Originally Posted by Kenomac

Nope, other than the fact that you won't own the boat if something goes wrong.

Damn it.... I knew there was something...

... if something goes wrong, i am srewed anyway... LOL