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Buying a boat overseas


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#11 OYSTR

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Posted 08 February 2014 - 06:56 AM

I vaguely remember there is some rule that if you are bringing in something for personal use that you have owned for a while then no charge, but I could well be wrong, never done it, but I seem to remember car people bringing vehicles back.

That also applies to boats but generally only those that will fit on a trailer. Anything bigger you have to be coming to NZ to live for the first time before you can get a no-GST exemption on it.

http://www.customs.g...ct Sheet 29.pdf
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#12 Murky

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Posted 08 February 2014 - 07:06 AM

Run across a couple of people in the past year who have done the "sail it home and make it the adventure of a lifetime" and have loved every minute of it.

I would suspect the decision-making matrix gets a bit complex. Some of the non-financial (i.e. emotional) factors can go in there as pluses; on the other side, probably also pays to allow for:

- viewing/inspection costs can get up there when the boat is in a different location - seems most people will have a shortlist of at least, say, four boats that are worth a look and obviously you don't want a budget shortfall on travel/accommodation to force a hasty purchase

- same deal with weather on the trip home - sitting in a marina with costs ticking away (and maybe crew who are running out of leave) can again drive decision-making

- again deep pockets may be the only solution if unforeseen repairs are required on the way home.

Not saying don't do it, just that it probably turns out to be as much of a compromise as anything else and don't blow all of your budget on the initial purchase!

Danaide has probably got some insights into how it can all pan out but may not be in a position to comment today with the RNI start.
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#13 DanInEurope

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Posted 08 February 2014 - 07:09 AM

I vaguely remember there is some rule that if you are bringing in something for personal use that you have owned for a while then no charge, but I could well be wrong, never done it, but I seem to remember car people bringing vehicles back.

That also applies to boats but generally only those that will fit on a trailer. Anything bigger you have to be coming to NZ to live for the first time before you can get a no-GST exemption on it.

http://www.customs.g...ct Sheet 29.pdf


Good spot, it's there in the fine print. guess my non kiwi wife will be owning the boat then!
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#14 Guest__*

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Posted 08 February 2014 - 07:29 AM

Thanks for the comments guys. It really does seem that unless you want to make a bit of an adventure out of it and sail it back, then its probably not worth the additional costs/hassle unless you are spending north of $250,000

My biggest fear is spending all that $$ to see something then it turns out to be a shitter

If you have the time and $$ then it would defiantly be the way to go :thumbup:
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#15 DrWatson

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Posted 08 February 2014 - 08:49 AM

I vaguely remember there is some rule that if you are bringing in something for personal use that you have owned for a while then no charge, but I could well be wrong, never done it, but I seem to remember car people bringing vehicles back.

That also applies to boats but generally only those that will fit on a trailer. Anything bigger you have to be coming to NZ to live for the first time before you can get a no-GST exemption on it.

http://www.customs.g...ct Sheet 29.pdf


Good spot, it's there in the fine print. guess my non kiwi wife will be owning the boat then!


Hmmmmm, Along those lines. I guess our boat will be 100% owned by my non-kiwi wife also. But... for the boat to be NZ registered it needs to be majority owned by a Kiwi Citizen (or resident?). Can She then get residency (or citizenship) before moving there? Making it her, moving to NZ for the first time (as a citizen or resident) therefore bringing the boat in Duty and GST exempt. Tricky.

I mean we'd just rather not pay tax on something again after already having paid tax on it in Europe. Seems fair, no?
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#16 DanInEurope

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Posted 08 February 2014 - 08:51 AM

I believe you apply for residency for your wife before you move back. haven't looked that far ahead though. certainly the case for oz.
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#17 Black Panther

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Posted 08 February 2014 - 08:52 AM

Register in Langkawi, sail to NZ, re register here if you feel the need (I wouldn't bother - cheaper if you ever decide to do a trip up to the islands one winter).

Anyone can register any boat in Langkawi - around $500.
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#18 DrWatson

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Posted 08 February 2014 - 09:34 AM

hmmm

Just had a look at the registration documents. Originally we were going to register in section A, but it now costs 2400!! or so. Also in Part B, so long as my wife is eligible to NZ residency (a given) then she, as a sole owner, can register the boat as a NZ vessel (not possible in Part A - she can only own 31 of 64 shares). Then sail away from Europe for a year or more and land in NZ, She's moving there for the first time.... et voila!

Of course it doesn't have to be registered as a NZ vessel but it will be easier when leaving Europe, and also easier when sailing around Europe if it's NZ and not German registered. As I understand it in general the rules of the flag country apply to the required qualifications of the skippers.

Of course she could always register it in Langkawi... But is it better to have NZ flag or Malaysian?
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#19 mcp

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Posted 17 August 2017 - 09:00 PM


Of course she could always register it in Langkawi... But is it better to have NZ flag or Malaysian?

 

I would love to know the pros and cons of a Malaysian registration as opposed to NZ. The CAT1, pro for Langkawi is the main one I'm aware of.


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#20 cj!

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Posted 18 August 2017 - 02:02 PM

I would love to know the pros and cons of a Malaysian registration as opposed to NZ. The CAT1, pro for Langkawi is the main one I'm aware of.

 

Aside from avoiding the Cat 1 costs, the initial registration is cheaper in Langkawi (RM1,140 initial reg. + RM380 for 1yr + Agents Fee) but a fraction dearer if the costs for the first five years are totaled compared to NZ($1,090). Langkawi renewals are cheaper and are yearly(RM380), not for 5 years like NZ.

 

Registering in Jersey(£440) is also cheaper than NZ for members of the Commonwealth but requires a Tonnage Survey for the initial registration and the renewals are also very cheap (£100 for 10 years). Jersey also requires you to have a Representative Person for a small fee.


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