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Old 10-06-2022, 15:53   #16
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Join Date: Jul 2013
Location: home town Wellington, NZ and Savusavu Fiji
Boat: Reinke S10 & Raven 26
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Re: Ownership and reg structure for world trip

As so very often fxykty's post makes great sense. In the first post the OP stated that he/she is a Kiwi.

And I agree with other posters about potential liabilities carried with a shareholding transfer and hence don't go there. Who knows what dodgy tax matters or crime might be discovered by the relevant revenue and law enforcement service within the next 7 years of share purchase. And it will be whoever the registered shareholders are at that time who're usually pursued through legal channels. Hence typically, when buying a business a new company is formed using the same name as that being 'sold' but with the year of purchase added. Totally separate legal entities, shareholders, and so it is the assets that are transferred at sale time.

In respect to registration, and that important disclosure of the OP's citizenship then the obvious choice is Part B of the NZ registry. It's NZ$368 for 5 years registration and is a very easy process. Here's a link.

And as fxykty's post states, Cat 1 is only required for exit from NZ.
But just for the record, why would there be a reluctance to comply with the safety requirements of a Cat vessel anyway? If a boat isn't up to the standard then should it be attempting to sail from NZ anyway? The seas around the country are unforgiving, there's no coastal option and the nearest port of call (Tonga) is over 1,000 miles. And the seas are often wild. Plenty of sinkings over the years.

And what's the point of pondering a potential sale in 7 years? No one's plan can be that specific. So many things might happen between purchase and that time.
Grant Mc
The cure for everything is salt water: sweat, tears or the sea. Yeah right, I wish.
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