Re: LLC or Corporate ownership of vessel


Ron Hynes
 

I acquired my Amel in the Netherlands five years ago. At the time, American insurance was going to cost me an exorbitant amount. I learned that I could insure with an EU company, one of several actually, for about 1/3 of the cost. The catch, however, was that the boat could not be owned by an American. I then formed a British LLC which has owned the boat since this time. I never had difficulties checking in to the UK, France, Spain, Portugal, the Canary Islands, Matinique, the DR, Bahamas and Morocco. The Italian authorities gave me a bit of a hassle, but I don’t believe it was because of ownership issues. It had to do with the form of certification I had. Things have gotten a little more interesting after Brexit but I’m no longer in the EU and not really concerned about it. Naturally I can’t comment on whether you have difficulties in the south pacific or in Southeast Asia or when crossing the Indian ocean, but I guess you won’t. Basically, you are very much like a merchant ship and very few of those are owned by individuals.

Ron Hynes 
954.319.0944

On Sep 7, 2021, at 5:17 PM, CW Bill Rouse <brouse@...> wrote:


Ben,

We bought BeBe in here 2nd year. She was owned by a BVI Corporation set up by the owner from Cape Cod. She was BVI Flagged and registered (Defaced Red UK Ensign). To set up the corporation in 2003, cost $696, and as I remember it, the annual maintenance of the corporation was between $400 - $500. My records reflect that the corporation was set up by Astra Penn, Dantrust Limited, 49 Main Street, Tortola, BVI (284) 494 4197, d.penn@...

I hope all of this is accurate, current, and complete.

Bill


CW Bill Rouse Amel Owners Yacht School
Address: 720 Winnie, Galveston Island, Texas 77550 
View My Training Calendar

On Tue, Sep 7, 2021 at 3:48 PM Paul Harries via groups.io <Pharries=yahoo.com@groups.io> wrote:
I have been investing Cayman registration via company for this purpose.
For me possibility of having employed national of any nationality on board at any time was reason for looking into it. 
Has benefit of UK diplomatic and military support.  Epirb and DSC has to go via UK or US though I believe.
--
Paul Harries
Prospective Amel Buyer

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