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I'm considering purchasing a yacht currently registered in Germany, with all the necessary import taxes and duties already paid. From what I understand, there seems to be minimal advantage in re-registering it in New Zealand, as doing so would require me to comply with category 1 requirements for international travel, unlike a yacht registered abroad. Are there any significant disadvantages to keeping the yacht's registration outside of New Zealand? The idea of being 'entitled to Protection of the Commonwealth/British' doesn't really appeal to me, especially since I could potentially register it in Canada, my home country, and presumably enjoy similar benefits. Thoughts?

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On 12/06/2024 at 1:34 AM, AdamBrown said:

I'm considering purchasing a yacht currently registered in Germany, with all the necessary import taxes and duties already paid. From what I understand, there seems to be minimal advantage in re-registering it in New Zealand, as doing so would require me to comply with category 1 requirements for international travel, unlike a yacht registered abroad. Are there any significant disadvantages to keeping the yacht's registration outside of New Zealand? The idea of being 'entitled to Protection of the Commonwealth/British' doesn't really appeal to me, especially since I could potentially register it in Canada, my home country, and presumably enjoy similar benefits. Thoughts?

Couple of things to consider

If you register the yacht in Canada, will you immediately incur Canadian sales tax?

Where do you intend to base the yacht? Need to think about this vis-a-vis obtaining insurance if you intend to have coverage. NZ owned/based foreign registered vessel generally cannot get local coverage, have to go with the reducing pool of international insurers.

Also if you are based in NZ and stay longer than the TIE duration you will need to pay duty and GST. If you are a NZ citizen you may get pinged for duty and tax immediately upon arrival, country of registration is irrelevant.

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