Boat Registration in UK

[yjchun]

Hello.
I am buying a boat in caribbean and checking options for boat registration.
I am a Korean citizen and wish to register the boat somewhere else and sail back to Korea.
I figured, if I setup IBC in BVI, I can register the boat in UK by myself with less fees than BVI.

But this (UK flag with IBC in BVI) doesn't seem commonly done and
I like to ask for your opinions about this.

And any advice with UK boat registration is appreciated. The boat is pre-charter boat with UK flag.

Thank you.
Chun.

[goboatingnow]

you can only register i the UK if you are a resident ( under SSR or part 3) or under the more onerous Part I ( full document trail needed) if you are a UK citizen or a company incorporated in the UK

dave

[yjchun]

Well, one of the UKSR Part I eligibility is
• company incorporated in any British overseas possession which have its principal place of business in the UK or those possessions.
And I guessed BVI belong to British overseas possession. Does it?

[svlamorocha]

Originally Posted by goboatingnow

you can only register i the UK if you are a resident ( under SSR or part 3) or under the more onerous Part I ( full document trail needed) if you are a UK citizen or a company incorporated in the UK

dave

I diasgree with the "only". I understand that Part I also allows other types of owners that may be relevant for the OP such as:

- company incorporated in one of the European Economic Area (EEA) countries
- company incorporated in any British overseas possession which has its principal place of business in the UK or those possessions

Gory detail available at Registering your pleasure craft | nidirect

I confess I do not know if the BVI is a "British Overseas Posession" as defined in the Part I eligibility rules.. Does anyone know?

Another story is that if the typical BVI corporation (no longer called IBC, by the way) claims to have a "place of business" in one of those registered agent offices at Mill Mall then that may open other issues or trigger other costs that may or may not negate the advantage over BVI reg cost......

Cheers

C

[goboatingnow]

I specifically left out all the corporate stuff because if you are wrapping a boat up in a company then you will of course be getting expensive big paid advice. Hence you wouldn't be asking on CF

Dave