Flag Registration

[goboatingnow]

Jersey as in the channel island. What you mean there another Jersey. Only on tv right.

Dave

[David_Old_Jersey]

Originally Posted by danieledam1

david old jersey - have you the link to reach this jersey ? what means "new jersey state" or what ? sorry but I do not understand. you said approx. 2-3 thousands us $ for ten years ? Ok very optimist. I am old 70 and do not think ( maybe if hope) to sail for ten years more. many tks guy

I only gave that figure out as a ballpark (could be a bit more - could be a bit less) to compare to overall cost against elsewhere.

The Jersey I refer to is "old" Jersey (the one New Jersey is named after!).....an island North of France and South of England.



Jersey Yacht Registry Website:-

http://www.gov.je/Travel/MaritimeAvi...istration.aspx

[boatpoker]

Other than Bahamas, Mexico and Canada it is unlikely that any other country will accept US State registration. So unless you want to spend days tied up with various 3rd world customs officers, I'd stick with flag state registration.

explanation .... Don't get confused by the terminology. What Americans call "documented" everyone else in the world calls "registered".

[storyinframes]

Dear Danieladam1,
I can understand your predicament. Though I dont have a boat but I am doing some research and this could be the best way to register/flag your boat and cruise.

Yacht : Offshore Simple : Offshore Personal Bank Account

cheers
Prashantt

[storyinframes]

danieladam1,

Also, you may not register your boat in Italy for various reasons which are fine but just check with your chartered accountant/Lawyer for intimating your govt/tax dept. regarding remittance of money/foreign exchange for buying a movable property abroad. This is for safety in the sense that the tax dept should not form wrong opinion on you...
I hope you understand.

cheers

[storyinframes]

http://www.cruisersforum.com/forums/...t-94403-2.html
this thread also has tonnes of information. Page 2 gives cost of registration and all in BVI and JERSEY.

[David_Old_Jersey]

Originally Posted by storyinframes

Dear Danieladam1,
I can understand your predicament. Though I dont have a boat but I am doing some research and this could be the best way to register/flag your boat and cruise.

Yacht : Offshore Simple : Offshore Personal Bank Account

cheers
Prashantt

Seems they are flogging registrations via a company. Nothing wrong with that, just adds cost and complexity / aggro (whether simply on the annual company paperwork or by complicating personal tax affairs).

As a broad ballpark would be lucky to get away with an "offshore" company (BVI / Delaware / Cayman etc) costing USD1k a year (in Govt fees and local agent / registed office costs) and in practice likely USD1500 plus (set up cost IRO USD1k). For a Jersey one you can double all that!, and only that "low" if it does SFA .

My order of preference would be:-

1) Reg in own name in "home" country (and suck up any PITA rules and costs).
2) Reg in own name "offshore" (if you can meet any passport requirements, i.e. EU or Commonwealth citizenship for a Jersey reg).
3) Reg in a company name (offshore or onshore) only if you really really need to (say because you don't meet the residency requirements for your home country and have the wrong passport for your current location, or for a personal offshore boat reg) or you actually understand why it will save you money (even when the taxman knows!) or you simply value privacy / conveniance (some people do have enuf money not to bother with paperwork themselves - "paperwork is for the little people" ).

I am surprised that no one has summarised the bones of the requirements / ballpark costs / pros and cons of the various common boat reg jurisdictions - well, I couldn't find anything (seems that most of the info is provided only on what folks are selling).

[storyinframes]

Originally Posted by David_Old_Jersey

As a broad ballpark would be lucky to get away with an "offshore" company (BVI / Delaware / Cayman etc) costing USD1k a year (in Govt fees and local agent / registed office costs) and in practice likely USD1500 plus (set up cost IRO USD1k). For a Jersey one you can double all that!, and only that "low" if it does SFA .

My order of preference would be:-

1) Reg in own name in "home" country (and suck up any PITA rules and costs).
2) Reg in own name "offshore" (if you can meet any passport requirements, i.e. EU or Commonwealth citizenship for a Jersey reg).
3) Reg in a company name (offshore or onshore) only if you really really need to (say because you don't meet the residency requirements for your home country and have the wrong passport for your current location, or for a personal offshore boat reg) or you actually understand why it will save you money (even when the taxman knows!) or you simply value privacy / conveniance (some people do have enuf money not to bother with paperwork themselves - "paperwork is for the little people" ).

I am surprised that no one has summarised the bones of the requirements / ballpark costs / pros and cons of the various common boat reg jurisdictions - well, I couldn't find anything (seems that most of the info is provided only on what folks are selling).

You are right DoJ. The company route is way too expensive when I only intend to buy a small 25-28 footer boat :-p.

I would prefer to have it registered in my own country but the rules are very bureaucratic/archaic. I checked up the DG Shipping site for sailboat registration abroad and it says that One would get only 6 months of provisional registry certificate and within that time it should reach india. if not the provisional cert gets annulled. I don't know how to go about this.

Also very stringent rule for the age of sailboat being imported in the country. anything more than 20 years old is a NO. And I cant afford any boat from 1995 onwards :-)

I like your suggestion - point no. 2 i.e. register in your name but I guess I don't qualify for that as I have an Indian passport.

So not very many choices for me, it seems.

danieladam1 could go with point 2 i guess.

thanks for the input DoJ.

cheers

[David_Old_Jersey]

Originally Posted by storyinframes

I like your suggestion - point no. 2 i.e. register in your name but I guess I don't qualify for that as I have an Indian passport.

India is in the Commonwealth - so you can get a boat registered in Jersey in your own name. (see the other thread for the likely costs and links).

However, I have no idea whether that actually helps you!, as if the boat is going to India they might require that any boat that lives their and owned by a resident be registered locally, but that might only be a local only registration rather than a formal internationally recognised boat registration - so you might be able to do both without conflict. Worth checking out before arriving.

[storyinframes]

Originally Posted by David_Old_Jersey

India is in the Commonwealth - so you can get a boat registered in Jersey in your own name. (see the other thread for the likely costs and links).

However, I have no idea whether that actually helps you!, as if the boat is going to India they might require that any boat that lives their and owned by a resident be registered locally, but that might only be a local only registration rather than a formal internationally recognised boat registration - so you might be able to do both without conflict. Worth checking out before arriving.

Thanks for info DoJ, that's a breather :-)

I always feel, as a matter of pride, that as and when if I ever have a boat, I would like to fly my Indian flag. I am okay paying 35% customs for a small old boat.

Also, you raise a very good point of local registration in india v/s formal internationally recognised boat registration. I think I might not get all answers from the govt DG shipping websites. Its better I speak to some clearing agents in Mumbai and speak to custom officials in person as to what is the correct procedure for paperwork. Information is not readily available because there are n't much precedence of Indians buying boats, I mean average indians not the rich ones, and go cruising. So I will have to run around and seek some concrete answers.

cheers

[danieledam1]

amigos - after enough replies still I did find a practic suggestion. I chequed florida,st lucia, ect..ect..all ways needs burocratic/archaic docs. time and much money. l can suggest you if you are EU and the boat is in EU the belgium is available at only 200 $ less or more. But i live in santo domingo and the boat is here. My passport is italian. That is a problem. anyway if somebody still really can help me indicating an easy and practic way I thanks.