Originally Posted by jmschmidt
spot on boatpoker. A foreign individual or company can set up a US company (corporation, LLC, etc.) which then can own a US documented vessel. There may be limits on foreign ownership
of the US company however.
From the USCG documentation site:
"Citizenship is established by completion of form CG-1258. In addition to individuals, corporations, partnerships, and other entities capable of holding legal
title may be deemed citizens for documentation purposes. Corporations must be registered in a state or the U.S; the chief executive officer and chairman of the board of directors must be U.S. citizens, and no more than a minority of the number of directors necessary to constitute a quorum may be non-citizens. In addition, at least 75% of the stock must be vested in U.S. citizens for a coastwise or fisheries endorsement."