Originally Posted by tomfl
But I have read some good things about Thailand cruising and the cost of living. While that is a big move for someone who lives and has sailed in Florida
and the Bahamas
it is not out of the realm of possibility.
Which raises another good question, how hard is it to deal with the paperwork, what ever, of buying and keeping a boat in Thailand. Same question for Caribbean.
I have some idea what it would cost tax wise and to register and document a boat in Florida/US, but I have no idea what is required out of the US.
Tom - Further to our exchange on profile page.
Thailand offers a retirement
visa scheme. I think having a legal
residency in Thialand will be prerequisite to own and register a boat in Thailand. Basic retirement
visa rules are that you prove you can support yourself. This equates to about US$25k in a Thai bank and income
of about US$2k a month. The visa needs to be renewed yearly. Read about it here - Retirement Visa to Thailand | Thai Visa Application for Retirement
Owning a boat in Thailand may be a bit more complicated but lots of guys do it so I think no big problem.
Another option is registration
. Langkawi is a duty free port so the Thai broker "exports" it to Langkawi and you register it tax free there. I haven't done the research
but I understand that there is no problem with non-resident owning a boat registered in Malaysia
As an American I don't know if you could register it in your state if it is not physically present there - while interesting to explore why would you want to? You'd likely pay taxes
Malaysia also has a retirement scheme - Malaysia My Second Home (MM2H). It is more expensive to get going but the visa is for 10 years. Basically over 50 you have to drop US$50k in a Malaysia bank and have income
of US$3k a month. This visa comes with other perks.
Malaysia My Second Home
The Malaysia scheme has actually gone up in recent years but is my current
choice. Malaysia is more stable than Thailand and the rules are better established and consistent.
A good solution is the MM2H programme and Malaysian registered vessel.
Now if you don't mind moving around continuously, as an American you can usually get 60-90 day visa on arrival. Move between countries every 3 months and you are OK - Just gotta figure out how and where to register the boat.
My brother has been in Thailand/Malaysia doing just this since October waiting for the right time to head
back to Oz. Where he will have the boat imported and registered.