We are researching how to set up a legal
owner operated business (under 6 passengers), RYA certification
with small vessel commercial
endorsement, Cat 0 for offshore
passages and passengers for weekly stays around various ports
. The boat will never be in US waters
for long as we donít intend to bring it back to the states. The charter
Ďlegsí will follow the sun and we would live aboard
. Considering flagging the boat
Red Ensign so it follows MCA 280 code and is consistent with RYA manning standards. Owners would set up LLC out of US and pay taxes
there with boat as an asset to that business.
Has anyone done anything similar? The tax experts and legal
advisors donít seem to be familiar with this concept
because itís not a traditional charter
model. Iíll go broke paying them to try to understand it. Any advice
or resources would be much appreciated!