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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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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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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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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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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.

Have you actually talked to a YNZ Cat 1 inspector? And then identified what is on the Cat 1 list you'd happily not have aboard and leave for the deep blue ocean? I don't think the process is as ridiculous or as expensive as you'd think, relatives to the safety advantages for you and your crew... 

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I agree.  Although I'm only doing coastal cruising at the moment, I'm pretty much equipped with everything on Cat1 barring the liferaft (we will sell this one and upgrade to Cat1 type when setting off).  I think I'm short one bucket with lanyard.  The only thing I'd question is the specific wording of the crew requirements, but assuming that the inspector is reasonable I'm sure they would make a judgement call on experience at the time.  If an inspector really thinks that you have all the equipment but still shouldn't be leaving, then it's probably time to have an objective look at yourself.

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Current situation. I do not know if I'm heading north this year or not. When I find out I want to leave immediately.

If I go through the hassle and expense of cat 1 it could be wasted money. If I don't do it I can't leave in the time frame I have.

Register offshore problem goes away and I save money.

What would you do ?

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