How To Register A Boat In Bvi?

[AKUMAL]

Hello to everybody!
I'm new in this forum and sorry for my English, I'm Italian.........
I need your help to understand how to register a boat in BVI.
We (my husband and me) are going to buy a sail boat located in Tortola and we would like to know the best way to register her.
Is it possible register the boat as private and not under a company? (We don't want put her in charter).
We have Italian and Mexican passport.
Our idea is to sail around all the Caribbean and arrive, maybe in the next 2-3 years, in Mexico (Atlantic side).

Thank you very much!

[Ulladh]

Talk with the authorities in BVI, and Italy and Mexico to find the optimal option.

To flag a boat under in the BVI, you need to be a British citizen. BVI is a British territory but not part of EU. The other option would be to establish a corporation in BVI and have the boat registered with the corporation as the owner.

Why not flag as Italian or Mexican, you could still base the boat in BVI.

[AKUMAL]

Thank you Ulladh for the fast reply!

If we flag the boat in Italy, do we have to pay 20% VAT even if we don´t sail in Italian territory?
And about Mexico...all say that it is not a "good" flag for a boat, is it true?

Thanks!

[Minnewaska]

Originally Posted by Ulladh

To flag a boat under in the BVI, you need to be a British citizen. ......

Are you sure? The BVI have an autonomous government and the national currency is the US dollar. I don't think they give a hoot if you are a British Citizen. I believe the British government provides protection, but that's it.

If your entire purpose is to avoid Italy's VAT and the boat will never be in Italy, there are certainly countries that specialize in that sort of thing. Cayman Islands might be an example.

Actually, I think the BVIs themselves might be one of those places. You might need to establish a local company that actually owns the boat.

Now, if you're buying a boat in Tortola that is coming off charter and have never done that before, you may want to start another thread and ask about that specifically.

[sailingdog]

Your best bet is to talk to a marine law attorney in the BVIs that can help you with this. Getting information off the internet may be a good research move, but you really need a professional to guide you through the landmines that registering a boat as a foreign national in a different foreign country.

Flagging the boat in Italy or Mexico may make more sense and be less expensive than flagging it in the BVI. One other issue you may run into is you may have some problems entering other countries if you have a BVI flagged vessel, since you and your husband are not British citizens. Often, it is easier if the owner and the boat have the same nationality.

[wardp]

I would like to document a foreign hull in the US. Been waiting awhile for the Coasties to get back to me.

[Ulladh]

Akumal
The VAT is due if you import the boat to the EU. Check with Italian authorities on requirements to flag as an Italian vessel.

Provided all your documents are in order I can't see why a Mexican flag would be a problem. If your intended sailing area will include Mexico then this may be the optimal choice.

Minnewaska
BVI is a British Oversea Territory with a British Governor. The Brits have a lot of little Islands scattered across the globe, all British Territory but with different levels of autonomy.

The French and Dutch also have little island territories.

[sailingdog]

Originally Posted by wardp

I would like to document a foreign hull in the US. Been waiting awhile for the Coasties to get back to me.

Are you a US CITIZEN. Can't USCG Document a boat unless the ownership is OVER 51% by US Citizens.