Would it be significantly cheaper to buy a boat in Europe?

[donjobs]

I am looking to buy a boat in Europe, cruise with it to the southwest Pacific and then sell it in New Caledonia (or NZ or AUS).

Are boats significantly cheaper in Europe than they are in America or Canada? What country would be the best for purchasing a boat now? I was thinking Greece, Italy, or Spain due to their poor economy.

I have been browsing YachtWorld and have noticed that you can sell them for quite a bit more in the SW Pacific, so I figure it's best to sell it there when my trip is finished, rather than sail it home. I have heard that New Caledonia has significantly lower taxes, so I was thinking that would be the best place to do so. Does anyone know what New Cal charges in import duties and taxes?

What extra considerations would I have being a Canadian buying AND selling their boat in foreign ports? Since New Caledonia is French-owned, could I avoid some import duties if I were to purchase it in France, keep France as the home port, and then sell in New Caledonia?

I imagine that most buyers in New Caledonia would be from New Zealand or Australia. Would they be able to avoid import duties and taxation by making New Caledonia as the boat's home port?

Sorry for all the questions, but I'd love to hear from anyone who has experience with this or lives in any of these areas.

Thanks!

[Stugots]

Didn't you also just post like 3 minutes ago how to go about chartering out your catamaran? You may be getting ahead of yourself. Or a troll.

[donjobs]

Originally Posted by Stugots

Didn't you also just post like 3 minutes ago how to go about chartering out your catamaran? You may be getting ahead of yourself. Or a troll.

Yes, this question has weight in my decision in where to buy a Catamaran. I figured it was better as a separate thread as it requires a completely different set of knowledge/experience to answer.

I am not a troll, I just thought it best to consider all things before making such a big purchase. Especially being a first time boat buyer.

[monte]

Not a great idea at the moment don. The Euro to Aussie dollar is pretty low now so local boats are more attractive to Australian/NZ/Pacific buyers. If you see the AUD climb up to around 80c to the euro it might be a good idea. Buying a boat in Europe, if you register it French you will have to pay 20% VAT on top of the purchase price. If it isn't registered Australian or NZ, any buyer will have to add 15% GST and tax to bring it into Australia.

[smaarch]

would you do me a favor and send me an email when you figure out how to beat world banks and go sailing?
thanks and much appreciated.

[donjobs]

Originally Posted by monte

Not a great idea at the moment don. The Euro to Aussie dollar is pretty low now so local boats are more attractive to Australian/NZ/Pacific buyers. If you see the AUD climb up to around 80c to the euro it might be a good idea. Buying a boat in Europe, if you register it French you will have to pay 20% VAT on top of the purchase price. If it isn't registered Australian or NZ, any buyer will have to add 15% GST and tax to bring it into Australia.

You bring up some good points monte. Thanks for the reply. Curious though, would I still have to pay the VAT if the boat is already registered a French boat (ie. I bought off a frenchman)? Can a person (ie. Canadian) keep a boat registered in a different country from which he has citizenship(France in this case)?

[monte]

it depends if VAT is paid or unpaid on the boat, some are, some aren't
I doubt you can re register and keep it in France if you aren't French

[boatpoker]

You personally cannot own a registered vessel in a country other than what your passport shows, however you can form a corporation to own the boat in that country. As a Canadian you can buy in France, register in Canada and never pay taxes unless the boat hits Canadian waters. Being a first time boat buyer is a steep enough learning curve without playing international tax, citizenship and finance games. You are going to get badly burned ... high a lawyer and an accountant familiar with the countries you are dealing with.... or take free info from this forum and roll the dice.

[barnakiel]

Originally Posted by donjobs

I am looking to buy a boat in Europe, cruise with it to the southwest Pacific and then sell it in New Caledonia (or NZ or AUS).

1) Are boats significantly cheaper in Europe than they are in America or Canada?

2) What country would be the best for purchasing a boat now?

3) I have been browsing YachtWorld and have noticed that you can sell them for quite a bit more in the SW Pacific,

4) I have heard that New Caledonia has significantly lower taxes, so I was thinking that would be the best place to do so. Does anyone know what New Cal charges in import duties and taxes?

5) What extra considerations would I have being a Canadian buying AND selling their boat in foreign ports? Since New Caledonia is French-owned, could I avoid some import duties if I were to purchase it in France, keep France as the home port, and then sell in New Caledonia?

6) I imagine that most buyers in New Caledonia would be from New Zealand or Australia. Would they be able to avoid import duties and taxation by making New Caledonia as the boat's home port?

7) Sorry for all the questions, but I'd love to hear from anyone who has experience with this or lives in any of these areas.

Thanks!

1) No.

2) Best = cheapest? A country close to where you want to use the boat.

3) Yachtworld does not publish trade prices. It publishes askings.

4) Taxes do not drive prices half as much as demand does. They have very good customs website too.

5) You can't unless you are French. France does not allow plain foreigners to register their boats there.

6) I think so. Given NZ and AUS attitude to taxes and tax avoidance, I think few NZ/AUS people will try.

7) Prob noblem. Happy sailing.

b.

[goboatingnow]

There tends to be some reasonable deals in Europe, simply because there are a very large concentrations of sailing yachts. Note that in Spain and Greece , most yachts are owned by Northern Europeans , less affected by the recession, and anyway the real distress selling has virtually all occurred already.

The big issues buying 2nd hand in Europe is you will have a proportion of the vat still in the price. Selling outside the eu will tend to have lower prices so you could get slightly roasted there.

Ps there are several registeries found the world that allow non nationals, but not any of the common ones.

Dave

[atoll]

make sure it has european RCD compliance otherwise you will not be able to sell in a french territory if non CE marked,