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"Undesirable alien" buying a US flagged boat
On Wed, 10 Mar 2004 21:06:44 GMT, Plastiekske
wrote: Ric wrote: So what was the status of the boat after it was deleted from documentation? As you mentioned earlier, you never registered it in Belgium because of the tax. Was the boat just not registered anywhere in the interim? well, since I bought it less than three weeks ago, it's still lying in it's slip in Georgia, undocumented. There's a catch-22 situation in this: in order to register the boat in Belgium, it has to be physically present in Belgium, but ... in order to sail it to Belgium, it has to be registered I've mailed the USCG to ask them if their exists a way out of this deadlock, but haven't gotten an answer yet Frank Not that I would recommend such a devious scheme, but in the world of "what ifs"... What if you sold the boat to a willing buyer, for say $10,000. At the same time, the new buyer grants you an option to purchase the boat for $10,000 and hires you to deliver the boat to Europe, where the new buyer plans to cruise the boat. Plans change for unforeseen circumstances once the boat is in Europe, say somewhere in the Antwerp area, and you exercise your option to purchase the boat. The boat is then registered in Belgium and tax is paid based on it's purchase price of $10,000. An alternative might be to sell a partnership interest to an American, who could document the boat. Transport the boat to Europe. Register the boat, terminate the partnerhsip. I would hate to see you part with a boat for purely paperwork complexities. Think form over substance...that is how the government works |
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