Gibraltar registered Boat

[pablothesailor]

I am just completing on a 1984 sailing boat, 12m with VAT paid in Spain!
Boat is registered in Gibraltar!
I am British with a UK address but have been resident in Spain in the past, the boat is in Valencia at the moment.
Are there any clear benifits for me in keeping the Gibraltar flag, its seems there is a yearly cost of 350uk pounds to the company that looks after all the paper work in Gibraltar, ive also been quoted 500pounds by them to have boat put in my name from current owner while keeping the GIB Flag, plus 980 pounds if i wanted to change it to a UK flag later! We are due to complete on the boat next week, would I just be better to imediately put it onto a UK flag right away as I would get rid of the yearly 350 pounds fee?? Many thanks!

[boatman61]

Yes...

[pablothesailor]

Originally Posted by boatman61

Yes...

Thanks for the detailed reply Boatman

Any reason??? I just was wondering would there be any type of advantage to me in keeping that GIB flag?

[boatman61]

SSR... 5 yearly and less than £50..
Less hassle in Spain coz your flag is a Gib flag and your flaunting Gibraltar on your stern..
But... its your wallet.. and boat..