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06-20-2015, 11:26 PM
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#1
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Ensign
Join Date: Jun 2015
Home Port: Worcester
Posts: 6
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UK resident purchasing yacht in USA
Hi, I am thinking of buying a small yacht in the USA to keep in the US and sail for the summer months there.
Not sure how this works if I reside in the UK and it would be good to fly a British Flag too, but not sure how this works with US regs.
Can anyone help please?
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06-21-2015, 08:18 AM
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#2
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Moderator
Join Date: Jun 2007
Home Port: Washington DC
Vessel Name: SV Mahdee
Posts: 3,236
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The boat flies the flag of the country it is registered in. That part is a given/requirement The boat can also fly the flag of the captain (you) as well as crew (if you see fit) and that information isn't really in the USA regs but found in discussions of flag etiquette in books like Chapman's etc.
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06-21-2015, 01:20 PM
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#3
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Ensign
Join Date: Jun 2015
Home Port: Worcester
Posts: 6
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buying in the USA
Hi, thanks for the reply, but that bit I already knew and I am sorry not to have worded the question better.
I was wondering how difficult it is for a UK resident to buy and keep a US flagged boat out there.
Then as an aside, could I re-flag the yacht in the UK and what rules in the US would come into play?
Also not too clear on how insurance companies will view any of this!
Thanks
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06-23-2015, 08:05 PM
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#4
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Ensign
Join Date: Dec 2014
Home Port: LongBeach, California
Vessel Name: Patricia A
Posts: 35
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Hi Robbell , just curious what boats interest you ? I'm guessing you will be looking on the east coast ? I'm also guessing it should be no problem at all for you to buy and keep a boat here in the US , provided you stay up on the taxes .
These guys will give you the bottom line on insurance . Good luck ,keep us posted .
https://www.boatus.com/intuitiveApp/...FRWUfgodXi4AwQ
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06-23-2015, 10:38 PM
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#5
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Ensign
Join Date: Jun 2015
Home Port: Worcester
Posts: 6
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Hi thanks for the insurance link. Looking to sail again in Chesapeake and Maine. It is the issue of taxes that are of interest and hence the question.
Where do I go for this information please?
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06-24-2015, 08:01 AM
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#6
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Ensign
Join Date: Dec 2014
Home Port: LongBeach, California
Vessel Name: Patricia A
Posts: 35
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HaHa , I can't resist this ,please forgive me . You got's to talk to the man , Uncle Sam ! OK, I'm sorry for that . I'm sure Boats US can give you all the tax info .
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06-24-2015, 10:41 AM
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#7
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Ensign
Join Date: Jun 2015
Home Port: Worcester
Posts: 6
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OK thanks for that, but in my experience of sailing to the USA a few years ago, I found Uncle Sam very unhelpful, but happy to quote any number of Federal laws which in practice differ between States!
I had the most wonderful time and two great years which is why I want to return, but wanted to get the real life low down on how this works.
Thank for the feedback though and I will contact Boat US.
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06-24-2015, 05:05 PM
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#8
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Ensign
Join Date: Dec 2014
Home Port: LongBeach, California
Vessel Name: Patricia A
Posts: 35
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Gov. agency , bureaucratic & unhelpful ? Why I have never experienced such a thing! Ahem.... For sure every state is different . In California , Los Angeles , you basically pay a sales tax when you purchase , then you pay the registration fee to get your bow numbers and sticker . Once a year we pay a property tax on our boat . I would also say that if you go through a broker to buy your boat they would be helpful making you are all paid up .
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06-24-2015, 05:13 PM
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#9
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Ensign
Join Date: Jun 2015
Home Port: Worcester
Posts: 6
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Many thanks for this.
I understand that Delaware is the State to set up a Corporation to buy the boat and handle things through that. Not easy for a Brit to buy and register a yacht in US without a home address and zip code out there!
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06-24-2015, 05:43 PM
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#10
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Ensign
Join Date: Dec 2014
Home Port: LongBeach, California
Vessel Name: Patricia A
Posts: 35
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Hi Rob , I'm by no means telling you how to handle things . If it were me , I would just buy the boat and keep everything within one state . I would keep things as simple as possible . I don't know if this will work , but it is easy to get a mailing address at a shipping store . Another thing, if you finance the boat that could put you in a different category . But if you have already done this , what will be different than before ?
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06-24-2015, 06:50 PM
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#11
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Ensign
Join Date: Jun 2015
Home Port: Worcester
Posts: 6
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OK Thanks again and I have taken your points on board here.
I am not having to finance the purchase so that is not an issue.
You have given me lots to ponder and Boat US and a broker are the next calls I have to make I guess.
Many thanks again.
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06-25-2015, 01:21 AM
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#12
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Ensign
Join Date: Dec 2014
Home Port: LongBeach, California
Vessel Name: Patricia A
Posts: 35
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You are welcome . Keep us posted .
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