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From: Scott Meyer (no email)
Date: Fri Jan 07 2005 - 13:52:28 EST
At 12:15 PM 12/28/2004 -0800, Alex Jomarron wrote:
>Greetings from frozen Chicago!
>
>As I am on my winterbreak, my mind wanders...
>Does anyone have any firsthand knowledge of what is involved in buying
>a boat from a another country and then documenting it in the US?
>
>I am dreaming of buying a used Etap. According to Boatrader and
>Yachtworld there are none here in the US. There are many in Europe. Any
>experience or leads you can give me on this idea?
As I've just finished doing this for Endless Summer, the experience
is still fresh in my mind:
Basically, the import duty on boats is 1.5% of the
purchase price in US $. The purchase price is converted
to US $ as of the date of purchase. You will need a dated
bill of sale and possibly something like a wire transfer
receipt or a cancelled check to establish the purchase
price.
Depending on his experience level with boat imports and
the value of the boat in question, the customs officer
may handle the importation directly. However, it is
probable that you will be required to retain the services of
a customs broker. The broker will prepare the paperwork
and will sell you a customs bond. The bond acts as a guarantee
to the Government that everything is on the up-and-up.
In my case the price of the bond was $5 per thousand
up to the first $100k and then $2.50 per thousand for
each subsequent $100k.
Various fees are then used to round things out to "boat units".
You write a cheque to the customs broker (it'll feel like
passing a small kidney stone) and the broker pays customs.
There is no exemption for living aboard.
Documentation is a completely separate operation. You can
have a US Documented vessel which is never imported to the
US. All you have to do for documentation is fill out the
forms and send them to the USCG documentation center.
-Scott
Scott Meyer mailto: http://www.summ.org/
"Endless Summer" F41 #17
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