Yachts are subject to taxes and other regulations in most countries, and the United States is among the tougher locations for a yacht to be based. Registering a yacht in another country is very common, and some countries have become known for favorable tax and registration rules. Yet as easy as some of these registrations can be, the entire process of finding a country and ensuring you can abide by all its regulations can be complicated. A yacht registration service can help you find the right country and flag to register under.
Ensure You Know Where You Have to Live If You Register in a Specific Country
One of the issues yacht owners sometimes have to deal with is that they may not be able to live in the country where they're registering their yacht. This takes two forms. One is not having legal residency, which some countries require; the other is not being able to be in the country in person while the registration is taking place. Personal emergencies can suddenly appear, and work issues may prevent the person from living in the other country for a while. One solution for the first problem is to look for a country that doesn't require you to actually live there or hold legal residency when you register the yacht. A solution for the second problem is that a registration service may be able to handle all of the details for you while you take care of whatever else is going on in your life.
Look for Registries With Outposts Worldwide
Another issue is needing help when your yacht is moored in a country other than the one it's registered in. With email and chat apps, along with better website technology, communication across the globe is much easier than before. But it's still more convenient to deal with people who are in the same time zone or one that's adjacent to where you are. It's even better if you can deal with people in the same country. For that reason, you may want to look at which ports of registry have satellite offices in other countries. A port in a country in the European Union, for example, may have a secondary location in Australia or Southeast Asia. Not all ports of registry offices have these additional locations, though.
Aim for Fast Registration
Some countries are faster at yacht registration than others, and that's important. When your yacht has a valid registration and flag, you can use it in accordance with that country's laws. Without a valid registration, you have to wait, and if you're registering somewhere where you aren't able to live for a while, that's going to complicate the process even more. If you can be in port only a few days but can get that registration taken care of in that time, that makes things a lot easier for you if you don't want to leave the work to a registration service.
However, those registration services are still valuable. They can help you choose a flag to register under and make sure that all your paperwork is in order. And if you have additional questions or concerns, they're there to help you.
Contact a local yacht registration service to learn more.Share