When I bought my boat in
Malta in 2019, it was registered/flagged in
Malta. In order for me to register it there I needed to set up a Maltese corporation. I opted instead to register it in the US. This meant De-registering it from Malta which took 30 days. Once I had the proof ie: de-registered form I could then send it to the USCG to obtain US
Documentation. That took another 30 days.
I was told by the
broker that an unregistered/unflagged vessel in Maltese waters could be impounded. I was also told by the
broker that because I had the paper trail that I would likely not have any problem with the authorities there. I took it out for a few day
sails but did not cross any borders or try to check in to any other countries.
One thing I did do to speed up USCG is to
email them and ask for expediated
service because I was under hardship being on a unregistered/undocumented vessel in a foreign port accruing berthing
fees. It still took about 30 days though.