no tax in St. Martin?

sherbet · #1 (**permalink**) 10-09-2003

I just read a yacht broker''s website that said St. Martin (sp?) in the Caribbean is a great place to buy a sailboat. They said prices are a little lower than North America, AND it is a tax free haven, so there are ZERO taxes on boat purchases.

Comments, anyone?

If you had a sailboat half the year in the Caribbean and half the year in the US, would this be an option that is worth pursuing?

Would you register it there?

Stede · #2 (**permalink**) 10-09-2003

sherbet,

I''m not familiar with the tax requirements involved in buying a boat in St.Maarten, but from a selection and price stand point,it seemed to me that a good boat could be picked up there cheap.On Simpson Bay there are alot of boats that have been left there for various reasons. When I was there,the perception I had was that a lot of cruisers make it to there,and then quit cruising for a variety of reasons.Run out of money,etc.There are also boats for sale there that have been damaged by various storms,etc.that have hit the island. Of course depending on the damage to the boat,repairs could get very expensive in that part of the world.I''ve been researching boats for a near future purchase,and I''ve noticed that there are quite a few boat listings for Simpson Bay.I''m sure there is the potential for a good buy there. Good luck!

Stede · #3 (**permalink**) 10-09-2003

sherbet,

I''m not familiar with the tax requirements involved in buying a boat in St.Maarten, but from a selection and price stand point,it seemed to me that a good boat could be picked up there cheap.On Simpson Bay there are alot of boats that have been left there for various reasons. When I was there,the perception I had was that a lot of cruisers make it to there,and then quit cruising for a variety of reasons.Run out of money,etc.There are also boats for sale there that have been damaged by various storms,etc.that have hit the island. Of course depending on the damage to the boat,repairs could get very expensive in that part of the world.I''ve been researching boats for a near future purchase,and I''ve noticed that there are quite a few boat listings for Simpson Bay.I''m sure there is the potential for a good buy there. Good luck!

pblais · #4 (**permalink**) 10-13-2003

Paying no St. Martin taxes is a small plus. Important issues would be getting sufficient papers to prove clear title outside the country. You may want to sail to other countries<g>.

Registering the vessle in the US will require that paperwork. Being able to sell the boat outside of St. Martin will too. Different countries require different paperwork. Here is a the biggest problem.

Bringing the boat to the US to keep it here will require duty and state and local taxes be paid. There is not a huge savings to be had.