I (an American citizen) have just bought a boat
abroad in Southeast Asia
. I have lived abroad in Asia
since college, about 20 years now.
is currently registered in Belgium with the previous owner. I cannot register her in the country which I reside, as only citizens are able to. I can, however, keep my foreign registered boat here indefinitely, which I intend to do.
I looked at the forms from USCG about registering and was a bit confused on the VAT. It sounds like I pay no VAT until I enter US waters, which I intend to never do. I plan to sail Asia and Oceania for a few years if not decades, and after that head
in the far future. I certainly will not be in the US in the next few decades, and will likely by then own another vessel.
So my question is, do I understand correctly that I do not pay VAT until or if I enter US waters? If so, what about when or if I sell her?
Thanks in advance!