Thread: Help with registration of a new yacht

So, my uncle is just finishing building a new yacht in like 10 days, and wanted to register it. Since taxes in Europe are very high and I've been told that if you do register it in the Cayman Islands, there's virtually zero tax to be paid, can anyone of you yacht owners help a fellow 4 member or just point me to the right direction? Thanks in advance!

Dutch registration or cayman islands registration will be the cheapest. I dont think its 0 sales tax, but definitely quite a bit less. This won't work if hes keeping the boat inland, only if its a flag-flying yacht.

Originally Posted by waterboy222

Dutch registration or cayman islands registration will be the cheapest. I dont think its 0 sales tax, but definitely quite a bit less. This won't work if hes keeping the boat inland, only if its a flag-flying yacht.

Thank for the help. Can you explain yourself as I'm not a big expert in boats. What's does really mean keeping the boat inland and flag-flying yacht.

Originally Posted by 3R10

Thank for the help. Can you explain yourself as I'm not a big expert in boats. What's does really mean keeping the boat inland and flag-flying yacht.

Give us some dimensions on this yacht. To be used on inland waterways(lakes) or always in the Ocean. When you say building it, do you mean actually building it himself? Otherwise the builder would have this information for him.

Originally Posted by ChumpChange

Give us some dimensions on this yacht. To be used on inland waterways(lakes) or always in the Ocean. When you say building it, do you mean actually building it himself? Otherwise the builder would have this information for him.

Almost 30 meters (29.2 I think) and weighs about 105 tonnes. It is currently being built in Dubai, and will be used mostly in the Mediterranean, where it will also stay (Croatia to be exactly). The building company gave him some information as far as I know, but the quote they gave him, seemed outrageous. And had to be paid yearly! So I volunteered to help him, find some more realistic prices.

if you need anything in Croatia for yacht be free to contact me. I worked for charter agency for luxury yachts.

Originally Posted by abog

if you need anything in Croatia for yacht be free to contact me. I worked for charter agency for luxury yachts.

Thanks, but my uncle already has a yacht registered there. I was looking for something on the Caymans.

Advice Anyone?

Well, your uncles new boat is almost 100 feet long and boats that size in America typically cost over $7 mil new. I would imagine that he has a good grasp on handling the registration of the boat given what you have told us, people don't blindly or unknowingly going into purchases of that magnitude without during their homework.

Originally Posted by SMW

Well, your uncles new boat is almost 100 feet long and boats that size in America typically cost over $7 mil new. I would imagine that he has a good grasp on handling the registration of the boat given what you have told us, people don't blindly or unknowingly going into purchases of that magnitude without during their homework.

Being 10 days away from finishing a 100' yacht and doesn't have any information on the documents needed to float the thing? Can I talk to him about some investments I have for him?

Originally Posted by tblackj

Being 10 days away from finishing a 100' yacht and doesn't have any information on the documents needed to float the thing? Can I talk to him about some investments I have for him?

^this^
If he's serious, contact me via PM and I'll give you the contact info for our agent in the Cook Islands.
Georgetown C.I. is also very popular, but again, there are a long list of questions and conditions to be asked before you head down that path.

Who will underwrite the P&I on the boat? As that will vary on where you'll want to register your boat, and what cruising grounds you'll spend you time in flying courtesy flags on visas. It's best that your Father consult with a maritime attorney, rather than an internet forum.