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Buying and registering a boat in the BVI - questions
I intend on buying a boat in the British Virgin Islands and registering her there. I don't need the complexity of setting up a shell corporation and can register in my name (all UK and EU citizens can now do that). I am trying to figure out the actual costs involved in the purchase and have come up with the following list but I would love to hear from others which points I have missed and which costs might be wrong:
1. Purchase price of the boat
2. Costs of Survey @ US$17/foot OAL (confirmed by surveyors)
3. Costs of lunchtime Haul US$5/foot (confirmed @ Nanny Cay)
4. Costs of using a title company ??? (Is it necessary?)
5. Costs of getting a BVI tonnage inspection US$400
6. Annual registration costs US$200
7. Annual Insurance - ~1.5% but I'm still looking.
I have been told that using a title company is recommended in order to get everything done correctly, but I don't know what they are going to charge for this service. Has anyone done this themselves in the BVI?