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Old 30-08-2012, 19:18   #121
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Re: Under What Flag Would You Register ?

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Why not register in UK even if VAT unpaid? It is cheap and simple. If the boat is not VAT paid then your only downside is the 18 month rule while in EU countries.

Some serious bargains can be had with buying tax unpaid boats in EU countries.
Issue is I am not eligible to use UK registry and I can/want not use my home country registry. So it ends up using an open registry or registration via a company.
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Old 30-08-2012, 19:25   #122
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Re: Under What Flag Would You Register ?

Exactly.

You have to decide whether expense of the corporate route makes it all worthwhile. Wherever the corporation is based there will be annual fees.

It all depends on the size of the tax bill you are trying to dodge.
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Old 30-08-2012, 20:24   #123
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Re: Under What Flag Would You Register ?

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Exactly.

You have to decide whether expense of the corporate route makes it all worthwhile. Wherever the corporation is based there will be annual fees.

It all depends on the size of the tax bill you are trying to dodge.
Hm ... I think you really missed the point. It's not about the tax bill. At the current situation I am not able to register in my home country.
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Old 31-08-2012, 03:23   #124
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Re: Under What Flag Would You Register ?

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Originally Posted by savoir View Post
Why not register in UK even if VAT unpaid? It is cheap and simple. If the boat is not VAT paid then your only downside is the 18 month rule while in EU countries.

Some serious bargains can be had with buying tax unpaid boats in EU countries.
I don't think there is anything wrong with doing that - but if I was a non-eu resident, with a non eu (and VAT unpaid boat) then out of choice I would prefer the registration to also be non-eu simply to keep the story easy to understand. Officialdom likes easy to understand . That especially true if I was a non-eu resident but had an eu passport (and was using it to save visa aggro).
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Old 31-08-2012, 03:32   #125
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Re: Under What Flag Would You Register ?

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Hm ... I think you really missed the point. It's not about the tax bill. At the current situation I am not able to register in my home country.
In that case (as a Swiss National and Resident?) you either need a Registry which has no specific residency requirement (are there any?) or use a company.

The company route usually costs a fair bit though , and the flags of conveniance places cost a fair bit to provide that (because the activity of providing registered offices for companies for non-locals is regulated up the kazoo - and that always costs. plus the locals usually ain't communists ).

If you want very cheap, very easy and 100% kosher you are probably outta luck. Probably the easist "cheat" is going on the SSR by magicing up a UK address, and then keeping fingers crossed that some sharp EU customs fella does not twig that it is tantamount to an owner signing a declaration of tax residency within the EU (SSR only available to UK residents - albeit of any nationality).
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Old 31-08-2012, 03:44   #126
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Re: Under What Flag Would You Register ?

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The company route usually costs a fair bit though , and the flags of conveniance places cost a fair bit to provide that (because the activity of providing registered offices for companies for non-locals is regulated up the kazoo - and that always costs. plus the locals usually ain't communists ).

If you want very cheap, very easy and 100% kosher you are probably outta luck. Probably the easist "cheat" is going on the SSR by magicing up a UK address, and then keeping fingers crossed that some sharp EU customs fella does not twig that it is tantamount to an owner signing a declaration of tax residency within the EU (SSR only available to UK residents - albeit of any nationality).
Well I've planned to take the "company-way", but wasn't aware that even a "dormant" one is still so expensive - especially in the Caribbean. Anyway ... right now digging around in "123-uk-company", "aaa-qwick-uk-ltd-formation" and friends. But if I understand that correctly, company maintenance provided by some funky "maintainer" shouldn't get above 300 a year (all incl). Unless I am totally wrong. So the yearly cost would be around 500 or so - if that is the case I would be X-happy ... :-)
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Old 31-08-2012, 05:18   #127
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Re: Under What Flag Would You Register ?

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Well I've planned to take the "company-way", but wasn't aware that even a "dormant" one is still so expensive - especially in the Caribbean. Anyway ... right now digging around in "123-uk-company", "aaa-qwick-uk-ltd-formation" and friends. But if I understand that correctly, company maintenance provided by some funky "maintainer" shouldn't get above 300 a year (all incl). Unless I am totally wrong. So the yearly cost would be around 500 or so - if that is the case I would be X-happy ... :-)
No experiance of the UK formation providers (there are thousands of them) - but make sure the deal you get is fixed on cost (unexpected extras add up!), you understand what they are doing each year and what not.

I would also throw in GBN's earlier caution on the UK company only owning a boat and the possibility of this creating aggro, if not also a bill . Am personally not 100% convinced his concerns are entirely valid, but don't have any facts to challenge that position - so I won't. But if I come accross the opportunity (in the day job) to raise the matter (for free!) with someone who does know then I will do so, but don't hold your breath on that!
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Old 31-08-2012, 05:32   #128
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Re: Under What Flag Would You Register ?

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No experiance of the UK formation providers (there are thousands of them) - but make sure the deal you get is fixed on cost (unexpected extras add up!), you understand what they are doing each year and what not.

I would also throw in GBN's earlier caution on the UK company only owning a boat and the possibility of this creating aggro, if not also a bill . Am personally not 100% convinced his concerns are entirely valid, but don't have any facts to challenge that position - so I won't. But if I come accross the opportunity (in the day job) to raise the matter (for free!) with someone who does know then I will do so, but don't hold your breath on that!
Well I just got an answer from the Part 1 team in UK. I've asked whether I can register a BVI IBC owned yacht in Part 1. The answer : yes but "providing a UK representative".

So for me basically it's back to UK Ltd.

Regarding GBNs issue ... the boat will be worth may be 10k-15k EUR. So it's about splitting pennies. If anyone has a problem with that - let's solve it then. Btw most likely will keep the boat for 2-3 years only. Seems to me no live-aboard but only a 3 year sabbatical. Sigh. Relatives suck !
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Old 27-11-2012, 02:12   #129
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Re: Under What Flag Would You Register ?

Well it became very difficult getting the Gibralter registration because our 'Bill of Sale' was not notarised at the time of signing and was way to difficult to organise as the previous owner is Austrian with very little ability to speak english.

Went back to doing Aussie rego ourselves and it was very simple and very quick, with postage, translations etc it cost under 1300 AUD and that's a one off.

So DOMINOS has been accepted, call sign issued and MMSI Number allocated. Now just got to sort out the question of EPIRBS and where they are coded.....

Cheers all.
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Old 09-07-2013, 06:07   #130
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Hello,

I would like to ask were a Seycheleze IBC company that owns a yacht can register it with low costs.

Thank you very much in advance for answering.
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Old 09-07-2013, 06:24   #131
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Re: Under What Flag Would You Register ?

Set yourself up with a mailbox at the UPS store in Providence, RI. There are at 11 Angel St. Used that for my last cruising boat, before illegally using the SSR with no issues..... Download the rego forms from the state website. Mail it in, when paperwork comes have UPS store forward to you.

The biggest problem may be setting up the mailbox as there may be some security issues from overseas. PM me, I'd be happy to handle all the legwork for a modest fee.
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Old 09-07-2013, 08:31   #132
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Re: Under What Flag Would You Register ?

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Hello,

I would like to ask were a Seycheleze IBC company that owns a yacht can register it with low costs.

Thank you very much in advance for answering.
Boat Registries usually work on Nationality or Residence (of person or company) or both!.......so a Seychelles Company unlikely to qualify anywhere else.

Once you get into Company Reg, especially "offshore" then no such thing as "low costs". If the boat is already on the Seychelles Register (via the Company) I would either leave it as is, or transfer to own name in own country of residence / citizenship (location of boat usually irrelevant)......as a general rule, that latter option is usually the cheapest and easiest (to do and live with after) - unless there are good reasons ($$$!) not to, for some their are good reason(s) - for most on "our" sized boats not.
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Old 25-07-2013, 13:30   #133
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Re: Under What Flag Would You Register ?

Thank you very much for your answer.

What is your opinion about Dutch Flag and what company route you advise for this specific country ?

Thank you in advance.
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Old 30-08-2013, 12:56   #134
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Re: Under What Flag Would You Register ?

Hi - does anyone know what the process and fees are for registering your boat in Ireland with the Mercantile Marine Office? I've had a look at their website but haven't been able to find any details. Would be keen to hear if anyone else has registered their sailboat in Ireland and how they went about.

Thanks
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Old 19-09-2013, 17:51   #135
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Re: Under What Flag Would You Register ?

In case anyone does want to register their boat in Ireland, I contacted the Mercantile Marine Office and got the scoop from them as to what you have to do. I've updated our blog with the details. The Cynical Sailor & His Salty Sidekick: Registering Your Boat (Pt 2) - Ireland (UPDATED)
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