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Re: Scrub Island cats are gone!
[Re: WIsailer]
#231695
08/08/2020 09:55 AM
08/08/2020 09:55 AM
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Joined: Mar 2020
Posts: 3
WIsailer
OP
Member
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OP
Member
Joined: Mar 2020
Posts: 3
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Re: Scrub Island cats are gone!
[Re: GeorgeC1]
#231710
08/08/2020 06:39 PM
08/08/2020 06:39 PM
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Joined: Jul 2008
Posts: 3,003
sail445
Traveler
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Traveler
Joined: Jul 2008
Posts: 3,003
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Moving the boats to St Thomas is interesting. I think many companies have pondered it. It does however have some large tax implications. Actually if the boat is US Documented you only have to register with the VI government for a couple hundred dollars. If the boat is foreign then you have to go to US Customs and pay 1.5% of the purchase price of the boat for entry and then register with the VI government.
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Re: Scrub Island cats are gone!
[Re: WIsailer]
#231713
08/08/2020 08:10 PM
08/08/2020 08:10 PM
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Joined: Apr 2002
Posts: 6,849 GA/NC
GeorgeC1
Traveler
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Traveler
Joined: Apr 2002
Posts: 6,849
GA/NC
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That’s not what I was told when I looked at bringing my current boat to the US. I will check again because it would save almost 5000. If that is the case however why would anyone ever pay the tax? It’s quick, easy and cheap to document a boat. Quick google search: As the majority of the yachts we sell are built outside of the US an import duty of 1.5% of the yacht’s value, based on the sales price, will be due when it reaches US waters. US waters include the territory of Puerto Rico, but not the USVI.
A boat can be registered or US Coast Guard documented yet never have been to US waters. Therefore import duty would still be due.
Sales tax is due to your local state, and is based on the value of the sale.
We recommend the use of an import agent to streamline the process with US customs for the import duty payment. Contact an agent for referrals.
I think we have crossed wires over the fact the duty is not required to be paid if the yacht will only be in the USVI.
Last edited by GeorgeC1; 08/08/2020 08:20 PM.
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Re: Scrub Island cats are gone!
[Re: WIsailer]
#232051
08/12/2020 10:06 AM
08/12/2020 10:06 AM
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Joined: Jul 2020
Posts: 510 Bay Area
Husker
Traveler
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Traveler
Joined: Jul 2020
Posts: 510
Bay Area
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I'm no expert on this topic, but with both our boats we didn't have to pay an import tax nor state sales tax. Our boats were built in South Africa and delivered to, and ported in, BVI for charter. They were/are both flagged/registered US. Our state tried to collect sales tax on the purchases, but all we had to do to avoid this was document that they were not located in the state. I do not know the tax implications if we were to base them in the USVI, but it sounds like they would then be subject to the 1.5% import tax.
Last edited by Husker; 08/12/2020 10:27 AM.
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Re: Scrub Island cats are gone!
[Re: GeorgeC1]
#232217
08/14/2020 05:12 AM
08/14/2020 05:12 AM
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Joined: May 2004
Posts: 623
BaardJ
Traveler
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Traveler
Joined: May 2004
Posts: 623
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Captain Jay, I know the tax is not due in the USVI. I am getting conflicting reports on what happens if the boat is used in The Spanish Virgin Islands but based in the USVI. I called US customs yesterday because if my current trade in deal falls through I would move the boat to the USVI. They stated as a US documented vessel if I clear into the SVI I would be required to pay the duty unless it was innocent passage only. This is contrary to my earlier understanding that the duty would not be due as long as the home port was the USVI. Any thoughts? G Along the same lines, is the tax due if the USVI registered vessel is brought to Puerto Rico for haulout and 2-3 months of hurricane storage annually?
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