400: Looking at buying, your thoughts please

[Titch71]

Sorry forgot to mention thing that really thrned me off is that they tried t sell me a Croatian charter company with the boat! Massive tax dodge apparently. My lawyer warned me off.

[Titch71]

Hi was in a similar position last year. I ended up sourcing a boat in Turkey was a lot easier then the Croation regulations. Is it flagged Croation? If so could be a pain. Engine hours indicate a charter boat I did 100ish hours last year as a guide.

[rabbi]

Originally Posted by Titch71

Hi was in a similar position last year. I ended up sourcing a boat in Turkey was a lot easier then the Croation regulations. Is it flagged Croation? If so could be a pain. Engine hours indicate a charter boat I did 100ish hours last year as a guide.

The boat in question is not a bareboat charter cat. Its only used for personal use and cabin charter (teambuilding events and that sort of stuff). So engine hours should be OK.

[MadCat]

Originally Posted by Titch71

Sorry forgot to mention thing that really thrned me off is that they tried t sell me a Croatian charter company with the boat! Massive tax dodge apparently. My lawyer warned me off.

Are you speaking of this specific boat or in general? I was looking at a boat in Turkey also. So that would be better for what I'm trying to do?

Thanks

[rabbi]

Originally Posted by MadCat

Are you speaking of this specific boat or in general? I was looking at a boat in Turkey also. So that would be better for what I'm trying to do?

Thanks

I had a chat with a broker some time ago when the boat was listed. these folks used the boat mostly for personal use, which in EU requires VAT paid status.
A way around is to create a charter company in Croatia and make some minimal revenue.
As far as I understood they sold 'teambuilding' events and the like through their website. I wonder how much revenue they made... at 1200 hrs the boat has not had too much use and cabin charter is not much worse for wear than private use
the broker said the boat is for sale with our without the company, choice of the buyer.

to me the story makes sense. but of course buyer beware!

[barnakiel]

I too think the original insurance quote sounds high. I would shop around before any contractual commitments.

b.

[rabbi]

On a yearly contract we pay about 0,6% of current value for coverage in the Med.
Plus ~100 Euro for 3rd party liability