On 4 Apr 2006 12:10:32 -0700, "boatgeek"
wrote:

Minuses
* you would need a cruising permit by the US Customs Service to be
exempt from the above and you would have to leave US waters to renew
regularly.

There are some other items in the minus column. Typically an
offshore boat is not owned by an individual, but rather by a foreign
corporate entity established just for that purpose. There are fees
involved with establishing and maintaining that entity, as well as
other corporate responsibilities such as periodic reports, meetings,
etc. You may also be required to have a percentage of ownership, or
some other form of representation, by a local group.

An offshore boat also has time limits on how long it can remain in the
US, and/or within individual states. Careful records must be
maintained to demonstrate that those rules are adhered to, otherwise
there are tax consequences.