Sara Clemence
International Buying
Buying a boat overseas presents its own problems, but when you fall in love with a boat, it can be worth it.
There are special considerations to take into account if you are buying a boat abroad, especially if you plan to hire it out for charter.
A foreign-built boat that is registered in the United States cannot legally be chartered with a crew, says Bob Leslie of Northrop and Johnson. It can be hired out for "demise charter"--without a crew--and the difference is sometimes just a question of paperwork. If you're going to charter a boat in the U.S, say the experts, it's far simpler to buy a hull built domestically.
Boats bought in Europe may be subject to local taxes, says Leslie. A boat purchased abroad is also subject to import taxes (1.8% of the cost of a new boat or the appraised value of a used boat). You can bring a boat over and get a six-month renewable cruising permit, but if you plan to keep it in the U.S. permanently or sell it, you have to register it and pay the tax.
Sailboat Buying Guide
1. Intro
2. Location
3. Brokers
4. Bigger can be better, but..
5. Pedigree Counts
6. Turning a Profit
7. Used? New? Custom? In-Between?
8. International Buying
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