Help buying a boat in europe
Ok first up hi to everyone... Here is my question. Probably simple question but with many pitfalls. (hmm we will see). I live in Australia and i have dual citizenship UK / Australian. The price of yachts here in Australia is ridiculous as compared to Europe.
I would like to purchase a Bavaria 40 - 44 ft in europe and sail exstensively in european waters for a few years and eventualy return to Australia. Time is not a factor.
What are some of the things i should look out for regarding VAT, and purchasing my vessel. Do i stay away from certain countries. At some stage i would like to live aboard in the U.K as well. Being a Uk born citizen residing in Australia for most of my life am i able to bring a purchased yacht into U.K without paying the VAT.
Hope this isnt long winded and someone could clear up a few things and give advice.
You can be exempted from paying VAT when, as an expat, you return to the U.K. after an extended period overseas. Unfortunately, in order to claim exemption on VAT for a yacht you will have to prove ownership for over a year (it might be 2 years, I don't have the document to hand here) - they do this on purpose so that returning citizens don't buy big ticket items such as cars, motorcycles, boats, planes, etc. just in order to save on VAT and flip the items.
The VAT rules for are explained in many places, but I think that if you purchase a boat in the EU and, at the time of purchase, are already an EU resident then they will assess VAT. If you buy the boat ex-VAT while still an Oz resident you have a grace period in the EU before the VAT gets charged.
I believe that it would be difficult to buy a boat in Europe and live here several years without paying VAT.
However you can pay a smaller VAT. There are several places where you have reduced VAT: Madeira (Portugal) Island of Man (England). Perhaps you can have the boat registed there.
Perhaps there is another option. Perhaps you can buy the boat and register it as an Australian boat through an embassy. I have done something similar, with a Portuguese registed boat in Spain.
If you consider a Bavaria for sailing extensively, probably the better one is the 40 Vision. I know, the cruising line seems more seaworthy and fast, but it is quite the opposite. The Vision is faster and more of an ocean cruising boat (more ballast ratio).
The right place to buy a Bavaria is in the Palma de Maiorca dealer, the biggest. They sell 200 boats a year and they can offer you a good price and mount the boat the right way.
Thanks PcP for the info, the broker in Maiorca you wouldnt happen to know the company name ?.
I have looked at the vision as well (nice boat but not sure about layout) but i agree about handling...
You should talk directly with Lothar Kloss. You can say that I am pointing you to him (Paulo the Portuguese that bought him a 36ft, 8 years ago). He knows me well; We have meet several times on the last years.
He is a good sailor and I am quite sure, he can fit the boat to Bluewater cruising and to your needs and still offer you a good discount. For that you should command the boat with plenty of advance.
If you are really interested send me a private message and I can tell you some more and perhaps help you.
About the boat, they have an "owners" version with two cabins, separate shower and lots of tankage. The freezer is huge and the storage space very good for a 40ft.
Bavaria Yachtbau: Risszeichnung
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