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16_tons

A tricky registration scenario - lil help?

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We are in a pickle.

 

We are co-owners of a USCG-documented vessel, registered in Massachusetts. It is a 30ft sailboat...a fixer upper. We are two different nationalities, he's an EU citizen, and I am a US citizen.

 

The current registration is expiring and we believe that a non-US citizen is not able to own a USCG-documented vessel. So we are looking to register in a state that will recognize both owners.

 

It seems like RI is a good option, and DE is possible if my partner forms a corporation and uses that to register.

 

Another possibility is to register the boat in another country altogether, where we could both retain ownership.

 

Thoughts on states or countries that smile upon international co-owners?

 

Thanks!

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Why not just drop the CG documentation and title it in MA?

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Why not just drop the CG documentation and title it in MA?

This. I don't understand the fascination with documenting small recreational vessels that rarely cross state boarders and almost never international. Particularly when Canada, Mexico, the Bahamas and the Caribbean all happily accept simple state registration for entry.

 

There are some boats that need to be documented and some lenders who still require it, but unless this is your global voyager, just title it in your state and be done with it.

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We will take the boat cruising this winter not sure how far, so the any state registry is a short term solution. Like I said, the dual ownership with two separate nationalities is the thing here. If anyone has experience with that, we'd love to hear.

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Find a dude thst has it together with a bigger boat

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In every case i know, A boat must be registered and/or pay excise/property/sales tax in the primary state in which it will be used. Registering it as a corporation in another state (particularly if it is not an adjacent state) is a big red flag for the Tax Man.

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My wife and I had a similar situation before we became US citizens. We owned a MA titled boat and cruised it for two years around the Caribbean and Med, but that was 16 years ago. The only place we ever had a problem was Guadeloupe, but that was a particular immigration official as we had no problem in Martinique or France itself. Of course the world has got a little more particular about paper work, but most places they just want some piece of paper with a number on it to check you in. We are cruising again, but are now US Citizens so documented the current boat.

 

If you are just going to the Bahamas this winter, I'd just do it on state registration - i.e. MA title. I can not imagine there is any advantage to any particular state over another state - as far as a foreign country is concerned it's either USCG documented (the paper they are used to seeing, or something else). So use your state of registration.

 

However given that you are a US Citizen, for official purposes, why don't you just own the boat, then you can document it. If you're going cruising together, there must already be a significant level of trust.


Mark.

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For what I know the only way to register a boat for co-owners of different nationalities is to incorporate a Company or having a representative from the country where the registration is issued. It is what happens in DE as well as many Offshore Nations.

This solution may expensive for yachts under a certain value (i.e. if you want to hide money buying a Superyacht)

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Ummm, you are an owner of this boat right? Why not just document it in your name.

My wife is a Brit. The boat we bought had both names on the mortgage but only I appeared on the papers of documentation, for just this reason.

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Thanks for the info (except for the relationship advice and tits-flash guy). We are both on the bill of sale and wanted to both be on the rest of the documents since we will both be alone on the boat at times due to each of us taking turns working. We will register in our state and just deal with making changes if we do end up globe trotting beyond the Caribbean. Thanks again!

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Thanks for the info (except for the relationship advice and tits-flash guy). We are both on the bill of sale and wanted to both be on the rest of the documents since we will both be alone on the boat at times due to each of us taking turns working. We will register in our state and just deal with making changes if we do end up globe trotting beyond the Caribbean. Thanks again!

The problem is that once you allow federal documentation to lapse on a boat, it is hard to re-establish. Document it in your name and write a letter of transit saying your partner has rights to use the boat and act on your behalf.

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