BVI Best for Registering a Sailboat?

[Lagoon4us]

One thing quite sensible about Aussie rego is they don't require a tonnage vert for yachts.. Made sense to us.

[EzzyD]

Originally Posted by tamif27

the link to which Lagoon4us refers

I need to read the whole thread, but CG documentation is $30 something a year, is it not?

Renewal (if not late) is free. Difficult to believe, but true. If you forget to do it in time (they send a letter to the 'managing owner' asking you to sign and confirm all the details are correct ) results in a $5.00 fee if within 45 days of expiration. Later then that results in a larger fee and more paperwork.

USCG National Vessel Documentation Center, Fee Page

[Reality Check]

Think that you would have to have the boat "Imported" to BVI... a paperwork/ tax thing. The Tax is about 20% of the value of the boat. As a non-resident and non-Belonger you will probably have additional fees that are not always very visible until you enter or leave the country.

[la reverie]

Originally Posted by Reality Check

Think that you would have to have the boat "Imported" to BVI... a paperwork/ tax thing. The Tax is about 20% of the value of the boat. As a non-resident and non-Belonger you will probably have additional fees that are not always very visible until you enter or leave the country.

no! Where do you get your information from??

The British Virgin Islands has(source wikipedia):

• no capital gains tax,
• no gift tax,
• no sales tax or value added tax,
• no profit tax,
• no corporation tax, and
• no inheritance tax or estate duty, but
• contrary to popular belief, there is in fact income tax in the British Virgin Islands, but the rate of taxation has been set at zero.

[Dave852]

I had no problems in any country between the US and New Zealand with my vessel registered in the BVI and owned by a BVI corporation. I don't know why people talk about hardships when clearing into a country when on a vessel with a different flag than your passport. How do they think ships are registered?

[la reverie]

Originally Posted by Dave852

I had no problems in any country between the US and New Zealand with my vessel registered in the BVI and owned by a BVI corporation. I don't know why people talk about hardships when clearing into a country when on a vessel with a different flag than your passport. How do they think ships are registered?

Thanks for the reply, good to hear!

[CeesH]

Originally Posted by la reverie

no! Where do you get your information from??

The British Virgin Islands has(source wikipedia):

• no capital gains tax,
• no gift tax,
• no sales tax or value added tax,
• no profit tax,
• no corporation tax, and
• no inheritance tax or estate duty, but
• contrary to popular belief, there is in fact income tax in the British Virgin Islands, but the rate of taxation has been set at zero.

All these Tax regulations are of no importance if you only want to registrate your yacht. WE EUROPEANS are allowed to registrate our yacht in every Red Ensign state with a Ships Register. We don't need a company in between.

The Tonnage measurement is easy and not that expensive, the yacht can stay in the water.

CeesH (Dutch)

[la reverie]

Originally Posted by CeesH

About a year agoo I went trough the same exercise. At that time, for Europeans, the cheapest for a full registration was Jersey. Renewal every ten years and no anual fee.

Good Luck
CeesH

state of Jersey seems pretty expensive to me if are a not a resident there, since only residents can register in SSR. It cost £400 + some other fees and tonnage survey:
http://www.gov.je/SiteCollectionDocu...00122%20SW.pdf

[David_Old_Jersey]

Originally Posted by la reverie

state of Jersey seems pretty expensive to me if are a not a resident there, since only residents can register in SSR. It cost £400 + some other fees and tonnage survey:
http://www.gov.je/SiteCollectionDocu...00122%20SW.pdf

Jersey Reg lasts for 10 years (UK for 5), so no annual fees (nor annual paperwork to file / faff around with). Overall costs pretty competitive, just up front.

nowhere provides cheap and easy.....yer get f#ck all for free .

IMO the best place to register a boat is in your home country - unless a real good reason not to.

[Wavewacker]

How would insurance underwriters view a citizen from one country, the boat registered in another and moored or cruising primarily someplace else?

[Caribsailors]

Originally Posted by David_Old_Jersey

Jersey


IMO the best place to register a boat is in your home country - unless a real good reason not to.

I agree with David! I spun my wheels just as the OP and then Registered in my home country and on my renewal...my city of birth.
Take a look at Canada. $250 CDN for 5 years.

[zboss]

Originally Posted by la reverie

no! Where do you get your information from??

The British Virgin Islands has(source wikipedia):

• no capital gains tax,
• no gift tax,
• no sales tax or value added tax,
• no profit tax,
• no corporation tax, and
• no inheritance tax or estate duty, but
• contrary to popular belief, there is in fact income tax in the British Virgin Islands, but the rate of taxation has been set at zero.

Don't believe it - they have plenty of ways of getting your money. They just don't call it "tax". For example, requiring you to get a BVI lawyer and agent for just about anything worthwhile.

[la reverie]

I contacted the BVI registry office, and these are the fees in BVI:
"The fees are as follows:
Private vessel under 24m - US$600.00
Faxing fees - $25.00
Name Reservation - $50.00
Annual Register Maintenance Fees - $100.00"

[CeesH]

Originally Posted by la reverie

I contacted the BVI registry office, and these are the fees in BVI:
"The fees are as follows:
Private vessel under 24m - US$600.00
Faxing fees - $25.00
Name Reservation - $50.00
Annual Register Maintenance Fees - $100.00"

Check out the "Jersey Registry Office"

Private vessel under 24m - ₤ 400,00
Annual Register Maintenance Fees - 10 years FREE

My 2 Centavos

[la reverie]

I guess you have to pay some of these also in Jersey:
Provisional registration £108
Transfer of Ownership by Bill of Sale £108
Change of Vessel name £42

I guess Change of vessel name is only paid if you change the name later.

But the main problem is that you still need the survey as in British Virgin Island, but it is probably a better deal anyway.

All of these figures and more can be found here: http://www.gov.je/SiteCollectionDocu...00122%20SW.pdf