SailNet Community - View Single Post - Being of European Citizenship - can I buy a US sailboat and take it down to Mexico ?
View Single Post
  #9  
Old 11-20-2008
dohenyboy dohenyboy is offline
all these confusing ropes
 
Join Date: Aug 2006
Posts: 166
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 9
dohenyboy is on a distinguished road
Also you could register the boat in a state like Delaware.
Even if you register in California, you would not pay sales tax because you are taking the boat outside California for a year after purchase. But this could be a hassle proving it to DMV and still letting you register in California
Delaware has no sales tax, will cost you about $60 plus the cost of the Delaware registration people.
Now, to clear up a misunderstanding regarding USCG registration: If its in a corporate name you do not need to be a US citizen to own the corporation, if its for recreational use only. But you have to have one or more US citizens involved to make this work: (quote taken from USCG website)

"In addition to individuals, corporations, partnerships, and other entities capable of holding legal title may be deemed citizens for documentation purposes. Corporations must be registered in a state or the U.S; the chief executive officer and chairman of the board of directors must be U.S. citizens, and no more than a minority of the number of directors necessary to constitute a quorum may be non-citizens. In addition, at least 75% of the stock must be vested in U.S. citizens for a coastwise or fisheries endorsement. "
So, if you had one American friend who would be willing to be the sole officer and director of a US Corporation , you could register with the USCG. Don't incorporate in California, too expensive.

Last edited by dohenyboy; 11-20-2008 at 11:57 PM. Reason: more information
Reply With Quote Share with Facebook