Originally Posted by Tellus
your quests are diff to answer, but Iīll try to give you a sight.
First look here: HM Revenue & Customs
is build in EU so got CE conform papers, but suppose with US flag.
Not your passport is important but the flag. If you want to sell it you have to pay VAT if it comes into EU. Itīs hard to sell a boat without tax bill in EU.
Any maritime product in EU must be CE conform. Itīs not possible to import a product like yacht, electronic, engine
whatever from outside EU without it.
Donīt forget: EU is not a borderless union, notably if youīll come from sea.
The more some countries suffer, the more they look for money
Ok ignore all that
Here's the beef
(A) yes under TOR your possessions can be imported free of vat . They must meet the criteria as regards length of time you own them.
You can sail to the EU, use TIR ( temporary import relief) initially to avoid Vat. As you establish your EU tax residency ( and domicile ) fill out the forms and go through the TOR process. Your assets will be " deemed VAT paid " and you will have documents from customs
to back it up. No further vat is due to you or any EU buyer
(B) yes you can do it on a new US purchased yacht , as long as you comply with TOR ( 6 months ) and the same thing applies
You must keep them ( the boat ) for a minimum of 12 months after TOR
(C) CE if its not already CE marked , ie meets the RCD directive , then you will need to do post construction CE survey
and MAY have to change a few things. But RCD compliance checking is non existent in the EU, but a EU buyer will want it. ( you don't need it to import the boat, once its your personal possession ) . Best buy a common EU centric boat, but remember boat market is fairly depressed, but the EU economy is recovering and if your looking at 2 years plus , it might be a good angle
NOTE the flag of the vessel is utterly irrelevsnt for vat and import law, its your status as the " beneficial " owner that's important.
Ensure you complete TOR before tax residency ( ie within 6 months )
Yes its a good deal especially on a nearly new boat ,as you'll get to put the vat uplift into your pocket. For older 2nds , vat isnt a factor as its depreciated out of the value.
Note there is also a good market in non vat boats in the EU. , ( commercial
, leasing setups, sailing schools) often makes the base price
of a 2nd hand non vat yacht better. ( but you need to be vat registered to sell it plus vat , but this could be worth doing )
Its a great Union really
Ps. You will be relieved of import duties and vat. Local boat taxes
etc will continue to apply , ie whatever the relevant EU country forces its occupants to do regarding boats.