Yeah i see CI reg is likely to be a few thousand straight off the bat, + surveryors fees + notary + Appointment of a Cayman Representative Person (of course a service charged for) + a few other hoops + annual fee. Might be worth it though.
The registration issues are manifold:
1. Boat is owned by a German, so it can't be reg in NZ until she's got a permanent nz residency permit.
2. We're not resident in EU and are legally exporting from EU so I'm not in a hurry to pay 20% VAT voluntarily, just for the ease of registering in an EU land. You have 18 moths for boat to leave the EU after exporting. Additionally, I've read that if you take an EU tax paid boat out of EU for +3y, you have to pay VAT again when you come back! (which sounds like theft).
3. Happy to pay Swiss VAT import it to Swissland and register it as Swiss but a.) nowhere to keep it here, and b.) not a citizen so can't register in the Swiss ocean registry (Cat. A or B boats).
hence the requirement for an alternative flag.