I am an American citizen with a residence in New York
. I pay New York
State and Federal tax on income
from real estate and investments. I do not have European income
. However, in order to be able to spend more than three months out of any six in Europe
, I applied for and received a Portuguese residency visa. Last summer I sailed my sailboat, a 12 meter cutter
, from Newport
, Rhode Island
(her hailing port where she has been based since her purchase
in 2010) to Portugal
, clearing at Horta, Faial in June of 2017. I have a number of questions concerning VAT. My understanding is that as a non-European citizen I can keep the boat
in the EU for 18 months.
My questions are:
Is the 18 month exemption from the VAT affected by my residency visa?
Can the vessel be taken out of the EU before the 18 month period expires and the be brought back in for another 18 months?
How is the VAT valuation determined and will a valuation survey
done here in Portugal
suffice? If so how closely well that survey
Will a vessel flagged in Holland
or Brussels and owned by a non-European be able to cruise
European waters indefinitely and not subject to VAT.
Is there is a way to flag the vessel in Malta
and pay a greatly reduced VAT?
Thank you in advance for any advice or insight to that you may be able to give regarding my situation and these questions.