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Cayman Islands Registry?


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Anyone done it?

 

Any reason not to? Aside from compulsory survey and annual fees?

 

No GST/VAT to pay,

Essentially no constraints on ownership if you're from a half way civilised country.

Relatively relaxed regulations for pleasure yachts (from what I can work out).

Red Ensign group registry

White listed...

 

We're trying to figure out a place to register Christina's yacht for a few years before moving down under.

 

As far as I can work out, can also keep it Cayman Islands registered even if living in NZ, and after importing the boat to NZ.

 

 

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Are you keeping it in EU for any length of time? Could get messy with EU and individual state tax and duty rules. Or will you be tax paid in EU or CH?

 

A survey sounds like quite a big requirement. Especially for a new boat.

 

I thought UK, Channel Islands and a few others had even lower requirements if just looking for a registration. UK certainly does but may just be for UK residents.

 

If you are VAT paid in EU or CH then just flag it where you keep it, it'll save you a load of grief.

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Trans ocean a German association works and is easy and cheap no surveys needed and you can still fly your own country flag.

Trans ocean is only proof of ownership, it's not a registry as such afaik. Could be wrong though, I'm sure by joining them they would give you all the right answers on national registration requirements.

 

Why not just register in NZ, are there big fees or surveys now? Or do you intend to keep this registration permanently to avoid the cat 1 leaving issue?

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The cost in nz has increased dramatically. The issues around cat 1 continue to increase. Both are causing people to investigate alternatives.

Looks to be just over 1000 NZD for 5 years, compared to other flags thats not too bad. But, cat one, or more accurately the surveys and fees to certify cat 1 are ridiculous.

 

Don't some of the Pacific Islands have yacht registries?

 

Has anyone actually cleared out of NZ in a foreign flagged but NZ owned and domiciled yacht? I'm curious to know if Customs try and treat you as an NZ flagged vessel.

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I am trans ocean Reg and have enquired with nz customs, plus have talked to other nzers who have left with TO Reg no problems apparently. There are thousands of boats sailing worldwide using it to clear in and out of everywhere. Hopefully I will leave later this year for Fiji, no problem returning asNZ customs records the fact that you left in a nz boat although not NZ registered,and will not try to charge duty etc on returning

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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.

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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.

What's the issue with the Dutch registry, is it a vat issue? Couldn't you register as Dutch bit with vat paid in Switzerland?

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I am trans ocean Reg and have enquired with nz customs, plus have talked to other nzers who have left with TO Reg no problems apparently. There are thousands of boats sailing worldwide using it to clear in and out of everywhere. Hopefully I will leave later this year for Fiji, no problem returning asNZ customs records the fact that you left in a nz boat although not NZ registered,and will not try to charge duty etc on returning

I'm confused about trans ocean, I thought it just provided a recognised proof of ownership, a lack of which can be an issue where registration isn't compulsory like NZ and UK. However that's a different issue from ship registry. Every yacht traveling overseas must have a flag state registration, only flag states can issue that, trans ocean won't be able to issue a flag state registration for any nation... or can they? That's what you are saying, but I can't see how it's done.

 

In your case are you sure trans ocean aren't just providing you with proof of ownership, but your boat is remaining on its current shipping register (which in your case might be Vanuatu from memory?).

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Trans ocean is a german club most members are German citizens and so will fly the German flag however they also have many members from other countries who use the registration. I get sent a lovely magazine every 2 month with lots of interesting sailing articles all in German. The certificate lists your home port which for me is Im nz.

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Like TL I ran it past customs here and was told ok. Yet to be fully tested.

You mean trans ocean?

 

I'm intrigued about it, I can't see how registering with a German private club counts as flag state registration for clearing purposes. I'm keen to know how it works in a legal sense.

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The proof of ownership is interesting my last boat I bought in Australia and registered in NZ before sailing to Auckland. To register in nz they changed 1000$ but required no proof of ownership receipts etc just a photo of the boat. At least trans ocean asked for receipts covering purchase and preferably going back 5 years.

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