Where to register my new boat

[MexLife-BstnRts]

I'm shopping for a sailboat to take on the Great Loop this year. I'm a US and Mexican citizen and reside in Mexico. I'm likely buying a boat in the mid-Atlantic/New England area. I have no US residential address. How and where do I register the boat for best tax advantage?

[yiannis]

Cayman, Panama, Bahamas, British Virgin Islands etc....

Kind Regards

Yiannis

[Wendi]

BVI worked great for me. You create a corporation, then register it in the BVI corporation. No sales tax, no use tax (as in USA) and you are protected by the Royal something or other, since you have a British flag.

[tfp1970]

Originally Posted by Wendi

BVI worked great for me. You create a corporation, then register it in the BVI corporation. No sales tax, no use tax (as in USA) and you are protected by the Royal something or other, since you have a British flag.

Did you use a service in the BVI's to set up the corp or did you do it solo?

--T

[Wendi]

I used a service. I think you have to, not sure. The prices vary on what it costs. You might ask a local, like a boat broker, see if they know how to do it directly.
You can also set up a bank account in that corp name.

[yiannis]

Hello mexlife if you need more info I can provide it for you and also send you my contacts there for you to proceed, just let me know type of vessel it is. Kind Regards Yiannis

[MexLife-BstnRts]

Originally Posted by yiannis

Hello mexlife if you need more info I can provide it for you and also send you my contacts there for you to proceed, just let me know type of vessel it is. Kind Regards Yiannis

Thank you, Yiannis. I haven't bought the boat yet, but I'm looking at several sailboats in the 37-43 ft. range. Any help you can provide is appreciated.

[yiannis]

Ok I will send you for details when I get back home. Regards yiannis

[Sailing4Jesus]

You should name you Boat ( Sea Taco).

Chauncey Freeman (En Spain)

[helise]

Originally Posted by MexLife-BstnRts

I'm shopping for a sailboat to take on the Great Loop this year. I'm a US and Mexican citizen and reside in Mexico. I'm likely buying a boat in the mid-Atlantic/New England area. I have no US residential address. How and where do I register the boat for best tax advantage?

Hi! Mex,

Langkawi, an Open Registry no import tax, no GST, no VAT, low annual tonnage fee, no needs to incorporate an IBC, no annual director or secretary fees, fast on-line registration, yacht no need to be in Malaysia, no hidden costs annually, Internationally recognized and etc.

Approx USD1,800.00 for full Individual and USD1,900.00 for full Entity Registration included Ship Station radio License (MMSI NO), Call-Sign and Carving & Marking Note.

Please surf www.facebook.com/LangkawiRegistry or Yachting Pages or Info.marine@rocketmail.com for further enquiry.

Regards.

Elise.

[svseachange]

If you are a US citizen with a boat on the Great Loop that does not have state registration you are going to have a lot of "misunderstandings" with the state and local law enforcement authorities. In the Midwest they don't give a hoot about foreign registrations unless you are a foreign citizen. They are all going to want you to register the boat.

[tomfl]

Originally Posted by svseachange

If you are a US citizen with a boat on the Great Loop that does not have state registration you are going to have a lot of "misunderstandings" with the state and local law enforcement authorities. In the Midwest they don't give a hoot about foreign registrations unless you are a foreign citizen. They are all going to want you to register the boat.

Agree with this. Most states require you register in a state if you keep your boat in that state for a certain length of time; frequently something like six months. Some states also think if you bought the boat there you should have to register it in that state. Many states in the NE area seem to think if the boat has any connection to that state you are obligated to pay taxes there. If you get caught by the tax collectors there can be significant fines. A search of CF will turn up several threads by folks who were slapped with big bills from some of these states.

Trying to save money by pulling a fast one on tax collectors is usually a losing bet. Try and figure which state the boat will be spending the most time in and register it there.

[MexLife-BstnRts]

Originally Posted by svseachange

If you are a US citizen with a boat on the Great Loop that does not have state registration you are going to have a lot of "misunderstandings" with the state and local law enforcement authorities. In the Midwest they don't give a hoot about foreign registrations unless you are a foreign citizen. They are all going to want you to register the boat.

So I have to register it in each state I pass through? Ain't going to happen.
I happen to be a dual citizen of US and Mexico but I doubt that will help considering the current administration's love of that country.

[MexLife-BstnRts]

Originally Posted by tomfl

Agree with this. Most states require you register in a state if you keep your boat in that state for a certain length of time; frequently something like six months. Some states also think if you bought the boat there you should have to register it in that state. Many states in the NE area seem to think if the boat has any connection to that state you are obligated to pay taxes there. If you get caught by the tax collectors there can be significant fines. A search of CF will turn up several threads by folks who were slapped with big bills from some of these states.

Trying to save money by pulling a fast one on tax collectors is usually a losing bet. Try and figure which state the boat will be spending the most time in and register it there.

I doubt that I'll be in any state for more than a few weeks at least until I finish the Loop. And then I'm planning to take it to Mexico.

[Clipper4730]

Don't register it anywhere. Get it Coast Guard documented. Done and done. After you've done the loop and have owned the vessel for more than 6 months you can register it in Florida sans sales tax, however if your plan is to go to Mexico then the CG documentation should be more than enough. Just remember the documentation does not apply to your dink, if it has a motor that is. Register it wherever you buy the boat and be done with it. Ours only cost 30 bucks in MD. We have owned our boat for almost three years and have yet to register it anywhere. Just don't hang around anywhere more than 6 months. Good luck!

Will