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Old 28-01-2019, 16:41   #1
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Buying a boat registered in Sweden, but I'm Canadian

Hi, Im looking to buy a boat that in currently in the Caribbean, but its registered in Sweden. Does anyone know if I can just keep it registered there and pay the guy and have it switched to my name? Do i need to "import or register" it in Canada? I doubt it will ever leave the Caribbean, and probably just get sold to someone else in the future.

I really have no idea about that or where to start looking into it.

Can I register it in the US even though I'm Canadian? That would probably be better then getting it Canadianized... I don't really know, any insight would be greatly appreciated.

Thanks
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Old 28-01-2019, 17:02   #2
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pirate Re: Buying a boat registered in Sweden, but I'm Canadian

No you cannot keep it Swedish.. if its not likely to go back to Canada why not register it there.. from what I understand you'd only be taxed if it enters home waters.
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Old 28-01-2019, 21:36   #3
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Re: Buying a boat registered in Sweden, but I'm Canadian

Being a non-citizen of the US is no bar to forming a US-based LLC. Because of the US federal organization, boats are licensed at the state level but documented (ie, registered) at the federal by the US Coast Guard, a practice that predates the formation of the Republic.

(SEE. https://smallbusiness.chron.com/amer...llc-60049.html)

Delaware is a famous place to form an LLC and license a boat or ship. However, there are many states to choose from. I favor the one-time permanent license offered by Montana or New Mexico.

The advantage of the LLC? PRotection against unlimited liability in case of collision damage, or injury due to accident. But as a Canuck, this may be the least of your concerns.

OK - so consider that the expense of going American is at least ten times less than going to register your boat in the British Virgin Islands, or, say, Gibraltar.

But go to, for example, https://www.newmexicoregisteredagent...ew-mexico-llc/

To form an LLC, one must go thru a registered agent to receive your state government notices. (Not that they are likely to affect you!) After formation, one must also update annually and pay. small fee.

(This is true of any company in the BVI or Marshall Islands or Delaware.)

So, after paying say $200 - you have your LLC. You register your boat and dingy ONLINE with the state for it. And finally,. you pay your....is it $200? I think to the US CG, ONLINE, once.

Then you are done.

It'a great deal. Better than the 400Euros Belgium wants - or more in Europe for International travel (600Euros). (Although these are three-year rates....I think.) And you still need a corporation as a non-EU resident...say, one in the UK.

I have seen LLC deals at $33 or $35 per year after incorporation in New Mexico. The other lowest is $50ish in Montana. (And no, your can change your registration provider! Ergo, the service is very competitive.)

That's your single continuing annual cost to maintain your international "registration," good for making all ports of call (save, probably, North Korea, and Iran).

One catch is that you must name a home port with the USCG. It can be any US city - even one with no ports like Denver at 5,260 feet! Or maybe somewhere small...or a US border town you've visited and like.

Google is your friend. And you should check out the costs of your boat's license online. And the USCG. Then 'just do it!' Maybe make your LLC name Canadian and patriotic, or something from local sailing history or lore that you love?
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Old 20-02-2019, 20:56   #4
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Re: Buying a boat registered in Sweden, but I'm Canadian

When I bought my boat in the EU, I looked at all options and especially keeping it registered in the Netherlands (previous owner) however after much time and effort chose to register it in Canada. It was the cheapest option and also the most legal one if you get my drift. One time fee for the registration (~270cad) and a yearly radio station renewal (36cad). Also, it is difficult to get insurance from countries other than your legal resident status. I had insurance via a major insurer here in the EU but that all changed last year and I had no recourse but to get insurance via a Canadian insurer. Perhaps some other Canadians could offer some insight into insurance options for Canadian flagged boats.

When I tried to register it at first I was told it would take 4-6 weeks, but when I informed them that I was overseas and could not launch until it was registered they made exceptions and I had it within 48 hours. The people were unbelievably helpful. One odd note, on paper I own 2/3 and the crown owns 1/3.

And you do not need to pay any taxes in Canada if the boat does not stay in Canadian waters for more than ? days.
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Old 20-02-2019, 21:32   #5
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Re: Buying a boat registered in Sweden, but I'm Canadian

Quote:
Originally Posted by Orson View Post
Being a non-citizen of the US is no bar to forming a US-based LLC. Because of the US federal organization, boats are licensed at the state level but documented (ie, registered) at the federal by the US Coast Guard, a practice that predates the formation of the Republic.
A very long post and one with lots of information in it that sounds well researched, yet lots of it is just wrong.

While you might (or might not) be able to form an LLC as a non-citizen of the USA, you can NOT document a boat with with USCG unless said LLC is majority owned and controlled by US citizens.

Advice on the internet is frequently worth less than you pay for it.
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