Join Date: Mar 2017
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Re: Foreign Flagged Boat US Citizen buyer requirements
Many mega-yacht owners will flag their boat outside the US to avoid taxes.
Unfortunately this is not the reason most mega-yachts fly foreign flags. It's because of a law passed in 1920. Yachts over a certain tonnage must be classified as commercial vessels not recreational. Trump signed a law that changed that. You can read it here:
You will now see more mega-yachts with US flags.
As far as the OP, are you going to USGC document or not?