Canadian Ownership of US Sailboat

[fdr14127]

Maryland had a brochure at the boat show">Annapolis boat show which made the case that you should register your boat with them, favorable sales tax, ease of documentation, etc. etc.....See if Google can find it for you. Some people file incorporation papers (Delaware) and then use US CG federal documentation which then allows financing options as well as solid title documentation. (Way to much trouble, pay cash).
If you can't find Maryland's sales pitch, you can read the underlying details on their DNR registration page here:

Boat Registration

[denverd0n]

Originally Posted by weephee

So what I understand is that if I purchase the boat in the US and license it in a state (of my choosing ?)...

You don't get to just arbitrarily choose a state. In most cases, the boat will have to be registered (licensed) in the state in which you keep it. So the part that is "of your choosing" is where you want to keep the boat. Once you decide that, that will decide where it must be registered.

[LooseGoose]

Originally Posted by denverd0n

You don't get to just arbitrarily choose a state. In most cases, the boat will have to be registered (licensed) in the state in which you keep it. So the part that is "of your choosing" is where you want to keep the boat. Once you decide that, that will decide where it must be registered.

That will help you decide where to "store" the boat in summer. When cruising, all states allow visitors via boats, but after a time limit, the boat becomes fully taxable in the visited state.

different states have different grace periods...you are at risk if you exceed them. This is a clear synopsis of the rules for each state you wish to store in and or visit:

State Boating Information Home - Government Affairs - BoatUS

to be extra certain, once you have a travel plan, get your variables from the horse's mouth.

[Twidget]

Maybe not for a Canadian but it gets awfully cold on the Chesapeake in the winter. Most of the waterfront is closed for the season.

[jmschmidt]

spot on boatpoker. A foreign individual or company can set up a US company (corporation, LLC, etc.) which then can own a US documented vessel. There may be limits on foreign ownership of the US company however. Sounds complicated for a pleasure craft. Just de-document it and do a state registration in a state that does not have a personal property tax. This is very important or else the state tax people will be on your ass within thirty days for your money.

[Cottontop]

Originally Posted by jmschmidt

spot on boatpoker. A foreign individual or company can set up a US company (corporation, LLC, etc.) which then can own a US documented vessel. There may be limits on foreign ownership of the US company however.

From the USCG documentation site:

"Citizenship is established by completion of form CG-1258. In addition to individuals, corporations, partnerships, and other entities capable of holding legal title may be deemed citizens for documentation purposes. Corporations must be registered in a state or the U.S; the chief executive officer and chairman of the board of directors must be U.S. citizens, and no more than a minority of the number of directors necessary to constitute a quorum may be non-citizens. In addition, at least 75% of the stock must be vested in U.S. citizens for a coastwise or fisheries endorsement."