Buying Overseas - Steps for Aussies

[POH]

I was hoping to compile a checklist of items required to complete a purchase of a vessel overseas by Australians. (I'm looking particularly for guidance to buy in French Caribbean islands).

AMSA has a good site here: Brochure - Yachts, Cruisers and Fishing Boats

But it doesn't really address the whole deregistration process required on the other end, and some of the requirements and I think a checklist of things to do/look out for would be helpful to create.

Hopefully this thread can develop and serve as a resource for others. In that vein, I would kindly ask that we stay away from the following topics (which are covered in many other threads):

1) import taxes on return to Oz (17%, see other threads about this); and
2) hassles of buying overseas and why you should buy Australian (Factor, I'm looking at you buddy).

Thanks!

[David_Old_Jersey]

Originally Posted by POH

But it doesn't really address the whole deregistration process required on the other end, and some of the requirements and I think a checklist of things to do/look out for would be helpful to create.

I think an excellent idea .

Certainly the subject does tend to crop up fairly regularly - makes sense to capture at least some of the info.

With regard to the de-registration process, obviously every jurisdiction will have it's own requirements, if only in the paperwork. But nonetheless I would expect a certain commonality that could be captured.......and that of course also of use to folks whose boats are not heading for the Australian Register.

[Factor]

Here is a starting point - The Import a Yacht Web Site for Australians I have no connection to the web site and cannot vouch for its accuracy - etc etc - but he seems to cover most of the issues including the rego one?

(I just deleted a bit here cause I misread PoHs inital post - sorry!!

[POH]

[AussieWayne]

Originally Posted by POH

I was hoping to compile a checklist of items required to complete a purchase of a vessel overseas by Australians. (I'm looking particularly for guidance to buy in French Caribbean islands).

AMSA has a good site here: Brochure - Yachts, Cruisers and Fishing Boats

But it doesn't really address the whole deregistration process required on the other end, and some of the requirements and I think a checklist of things to do/look out for would be helpful to create.

Hopefully this thread can develop and serve as a resource for others. In that vein, I would kindly ask that we stay away from the following topics (which are covered in many other threads):

1) import taxes on return to Oz (17%, see other threads about this); and
2) hassles of buying overseas and why you should buy Australian (Factor, I'm looking at you buddy).

Thanks!

Hi Mike
Congratulations to you as you are nearing the crucial end of the process. Hope it all works out just fine. Always a worry when there are differing languages involved as things do get lost in the translation or do not even translate at all !!

OK I am in the process of having Kiki 1 registered on the Australian register as is required by law.
The process looks a little daunting because of the forms required but was quite simple once I got my head around it. Basically if you go to here http://www.amsa.gov.au/Shipping_Registration/Guides/Registering_a_Ship.asp
this will explain what you need to do.

The forms you need to fill out are these only (or at least in my case) http://www.amsa.gov.au/Forms/AMSA168.pdf
http://www.amsa.gov.au/Forms/AMSA157.pdf
http://www.amsa.gov.au/Forms/AMSA208.pdf
http://www.amsa.gov.au/Forms/statutory_declaration.dot

The Stat Dec is needed if you don't have a Builders Certificate and you would probably only have one if you bought brand new so this is probably the one you need. It must be signed by a JP etc witnessing your signature in person. A little research plus info from your contract details re the vessel such as HIN and engine serial numbers are some things needed.
You will also need to supply a certified copy of the Original ‘Bill of Sale’ and likewise the ‘Release of Registration’ from the register in the country wherever the vessel is currently registered. Make sure you get both of these original documents at settlement in fact make it a condition of the contract of sale.
(You may also need to obtain an Original Declaration of Freedom of Lien and if the seller is a company an Original Company Statement of Agreement for sale of asset for your own security).

Now if you fill out the first 4 forms you can then email them to AMSA on sro@amsa.gov.au for them to check that you have got it all right before actually lodging. I found AMSA very helpful which was refreshing.
Peter Baker peter.baker@amsa.gov.au is the Deputy Registrar of Ships and he responded to my emailed forms with some corrections and advice which I then conformed with before lodging the original forms by post. Peter has been very helpful.

So you can get the process started prior to your settlement and then supply the certified copies of the Bill of Sale and the Release of Registration certificates when you receive them. They suggested this as a way to move things along more swiftly.

You can then use one of the 2 forms below to pay the fee.
http://www.amsa.gov.au/Forms/AMSA114.dot
http://www.amsa.gov.au/Shipping_Registration/Fees/Direct_Deposit_Info.pdf

This is where I am up to in the process.
The next step is once they approve the application they will send out the marking notes and it is up to the owner to correctly mark the vessel according to the requirements exactly and then supply signed proof back to AMSA that this has been complied with. When that has been done I understand they will issue the Registration of the vessel and you can hoist the Aussie Flag or the Red Ensign.
This must all be completed before the vessel is moved from its current port once you are the new owner.

As far as insurance there are no shortage of brokers and marine insurance companies out there who would just love your business so let Google be your friend. I organised 4 or 5 quotes and settled on Pantaenius who seem to be one of the biggest. They were competitively priced at under 1% of the vessels value which included personal accident cover and third party cover as well as the hull and tender/outboard etc. This is for cover in the Med. They seem to have a good rep with most, probably not all.
So hope this is of some help to you as you work your way through the maize but it will all be worth it in the end.
Now lets go cruising!

Kindest regards
Wayne

[Wanderlust]

There have been various discussions on this in the past. Here are a couple of threads.

http://www.cruisersforum.com/forums/...alia-3346.html

and

http://www.cruisersforum.com/forums/...lia-14084.html

[Aussie_Sequoia]

One of the issues that I had not anticipated was when I went to sign up with a ForEx trader account (recommended to save tens of thousands to transfer large sums of money internationally) they needed to see my passport. I was already in North America at the time and had I done this before I left Oz it would have made the whole process simpler.

Also the original bill of sale (on the back of the US Coastguard documentation from the previous owner) didn't have a spot for stating the selling price. As this is crucial to sorting out how much tax I owe when I get back to Australia, I had to go back and ask the previous owners to sign an alternate bill of sale which I found on the internet... again I could have sorted that out first.

[AussieWayne]

Originally Posted by Aussie_Sequoia

One of the issues that I had not anticipated was when I went to sign up with a ForEx trader account (recommended to save tens of thousands to transfer large sums of money internationally) they needed to see my passport. I was already in North America at the time and had I done this before I left Oz it would have made the whole process simpler.

Also the original bill of sale (on the back of the US Coastguard documentation from the previous owner) didn't have a spot for stating the selling price. As this is crucial to sorting out how much tax I owe when I get back to Australia, I had to go back and ask the previous owners to sign an alternate bill of sale which I found on the internet... again I could have sorted that out first.

Aussie_ Sequoia I can certainly second your comments re using OzForex to transfer the funds across. They are very efficient, did not charge a fee for the service as they make their profit on the exchange rate which is always a much better rate than the banks anyhow. They served me well in my purchase and for transferring any money overseas at anytime.

Below are the OzForex requirements for the ID setup


''Now all we need to do is finalise the set-up of your account. This is very easy - simply follow the instructions below and we will get your account activated as soon as we possibly can. The legislation requires us to verify your ID and below you can see what that entails.

WHAT WE NEED
1. Photographic Identification Document in the form of either a current Driver's Licence or Passport.
2. Proof of Address Document. For proof of your current residential address we can accept any of the below documents. Letters need to be on headed paper, issued within the last 3 months and addressed to yourself.
· Bank letter, bank statement or credit card statement
· Utilities bill – not mobile phone bill or insurance document
· Letter from a government body or agency
· Current, complete, signed rental/tenancy agreement
NOTE: We cannot accept a PO Box address. With the exception of Bank Statements, electronic statements may be accepted, however the document must show the providers letterhead.

HOW YOU CAN PROVIDE IT (in order of preference)
1. Upload via Secure Encrypted Web Link a digital photo file or scanned version of the documents
2. Email a digital photo or scanned version of the documents to compliance@ozforex.com.au
3. Fax copies of the documents to:
Sydney Dealing Room +61 2 8667 8080
London Dealing Room +44 20 7614 4180
Toronto Dealing Room +1 416 649 8580

**2 Complimentary Transfers**
To get you started and experience how good the service really is we have added two free transfers to your account so you can try it out FEE FREE regardless of the amount you send.

Please let us know if there is anything else we can assist you with. ''




Good point on the Bill of Sale to be aware of.
Regards
Wayne

[POH]

Third thumbs up for Oz Forex - wired all my money with them and beats any of the banks hands down. Worked well.

For Bill of Sale - there is a template one on the AMSA website you can use. But I think a current valuation at the last point of entry is the tax determinant isn't it? (I know, I said let's stay away from import taxes ... blah)