What do you guys think? Should we do some more interview style videos like this? We have an opportunity now to do videos like this while we're waiting/saving to buy our boat.
There is only so much personal research a person can do to learn about certain topics. At some point real-world practical advice from experts in their respective fields become invaluable as a tool for learning what really matters. This was great in this regard. As for my own antidotal estimate for ongoing general boat maintenance and repairs: 7 percent of the purchase price each year for boats less than ten years old. 10 percent of the for boats older than ten years old.
Thanks. Great discussion. I learned a lot. I'm glad he mentioned he can help with a purchase in Europe and how to avoid the VAT because that is where I plan to purchase and spend up to a year before heading west. Your guest sounds like he really knows his stuff. He really helped me with a punch list of alot of things to consider.
Thanks so much for your videos ! They are by far, the best, most informative and true to life that i have been watching. So much to learn and know after the sale. Your guest needs to write a few books !!!
This is a GREAT video!! The amount of information here is untoped by any other video I have EVER seen on line about taxes, fees, registration, on going fees.. it just amazing!! Great job..please keep it up. Thank you!
Really enjoyed this video and surprised at the high costs of registration, Insurance, so many other fees and upkeep costs. Comparing our future fulltime living situation; 200k Cat vs. Motorhome vs. Residential Home options, my impression now is the boats are by far the most expensive. We love the water but day use rentals and private charters may be best for us and hassle free. Great video Thanks!!
Just listening to The Expert Gary Fretz means that what ever this guy charges for his services is WORTH IT. I really enjoyed listening to an expert who really knows what he is talking about. Learned a great deal with this video. thanks
Hi Ryan - I’m 2 years out but this was the best information I’ve seen yet anywhere! Great stuff here - Gary is excellent ...as were your questions ! Thank you
I like the video. Very informative. The taxes are tricky. I read that Florida capped the taxes at 18K because it costs about $20K to do a full foreign vessel. Texas has really gotten into charging use taxes for Texas residents who bring their boats here. And that is 6.25% like cars. So, as a Texas resident, if you want your boat in Galveston or are visiting Galveston, be sure of the rules.
Hey Ryan, very interesting Thanks. So here's a situation. Let's say I live in Florida USA (Permanent Resident with Greencard) and work in the USA fulltime but I want to buy a boat in the Carribbean (made in Australia). 1) Do I have to pay 6% Florida State & Use tax immediately? or only when the boat enters US waters? 2) Assuming I don't have to pay taxes until boat enters US waters, but I want FL registration is that an option? while boat remains in the Carribbean? 3) Will insurance cover the boat (while in the Carribbean) below Hurricane Zone. 4) When is customs/import taxes due? (is it based on surveyed value or on on hull value without the equipment) as your guest mentioned?
Great video this is very important stuff. I am a Canadian, I read from someone that stated that If I purchase a boat outside of Canada, I should register it as a Canadian vessel, and that I would not have to pay the Canadian VAT tax until I brought the vessel into Canadian waters. As your broker stated that he has a way to avoid VAT taxes from other countries. I have also read about buying a vessel in Florida and to avoid the Florida state tax you take the vessel 3 or 6 miles off shore with a newspaper of that day, take a photo of the paper with the gps coordinates tp prove you were outside the state.. any more info on this would be great.
Thoughts on a nice weekend boat? Like a cruiser, Sundancer, Regal express? Are they a money pit or actually something worth while? 2004-2008 years with dual motors ideally…
WOW - to both of you. This interactive style is easy to follow. A lot of really solid information - and - some damn good advice. Thank you for sharing...
what about the cost of repairs like how often you have to replace sales, and how much sails cost. Lines, masts, Do you have to scrub the hull from build up after a certain amount of time? Just very curious on general maintenance and upkeep. Thanks! Great video by the way
Cool I have been to Gary's web site many many times and I have emailed him a few times discussing Catamarans. It's good to have seen this video, not only does it put a face to the name, but it also displays a lot about his character, thank so much both of you.
Ive just inherited a170 meter superyacht and listening to the expert makes me think i should sell but i wont out of respect. I think this is going to cost but i will be looking up the Del state once its had a refit. Thanks for the great info.
Since buying yacht is a global transaction a lot of times, cost of delivering yacht, taxes, insurance, adapting European specs to north american, power conversion of 220V to 110V, EPA requirement, warranty coverage and whether it is transferable once imported. These are good points for you to touch upon
I take care here in Portugal, to make the registrations in Holand or Belgiun,and you after make the registration, in one place or another,you only have to pay small tax every three or five yaers,and is no more than 200€. Many people is doing that change,and you only need to have enshurance here in Portugal,nothing else...
gary speaks with experience. this is one of the good ones. but it's a challenge to cover so many areas, and also to diverse audience with a whole spectrum of needs
Great video and wow your guys pay incredable insurance rates. I had to go check my paperwork to make sure i was actually covered on my boat as i pay $750 a year on a boat estimated last year at $125K here in Canada.
Awesome Video. Thank you Ryan and massive thanks to Gary, i could shout him beers and listen all day to Gary on boating. Talk about great knowledge shared from the horses mouth. Brilliant!!!!!!!
To register a Documented Vessel over 3 tons displacement in Canada $10.00 and is done through the Canada Coast Guard. To License a vessel under three ton's displacement in Canada is Free and is done through Customs Canada. The owner of any vessel is required to have a Canadian Boaters Licence and is a test with a $35.00 fee.
Do you need to register a boat twice? Once with the state and again federally/Coast Guard? Is there a benefit to register with both the state and the Coast Guard?
Have I not known the various options having purchased a yacht regarding taxes and that of registering my boat as a corporate business and subsequently saving a good percentage in ownership regarding all of the previous mention, I would be bit concern with post cost ownership. Thanks Gary! I extend the same to Jessica and Ryan. PS...I like to know what are the advantages of purchasing a boat offshore/
This is such a great video! I do have a question though, if I’m located in Texas and I have a houseboat can I register it in Delaware and still be here in Texas or do I absolutely have to register it in Texas where it will be kept? Thanks for all the helpful videos!
Malta is not outside EU. There is no cruising permit for one year or any period of time. You can bring a boat in for upto 18 months without paying VAT (if you are not an EU resident).
Great work. Looking at a purchase in excess of 500k and need to do a little more homework thanks to your video. Lots of taxes and find it interesting he did mention Taiwan vessels. Maybe there's a different tax schedule for them? Maintenance is really a big question and it really boils down to what you can do verses what you can't due to your lack of knowledge. Like I wouldn't know how to correctly replace the "heat exchanger" on an engine but I sure know how to flush one out. Stuff like that. But it would be nice if he could provide a range. Typical 50 ft, 5 year old, twin screw, cruiser. 12k to 16k annually?
Do you know, does he work on just sail, and if so both cats and mono, or will he represent as buyer broker for power as well? I already know what I want but don't have a clue all the ins and outs of buying. I can tell you it will most likely be a 64 or 78 ft FPB yacht. Mainly because my back injuries will make sailing rather difficult and painful where turning switches and pushing buttons will be much easier on me physically. Especially considering I will be crossing oceans and a good portion will be single handed. So, I need representation not on cats. The Amel 54 would be nice but that's alot of sails to deal with where the FPB is a tank. Awsome boat and easily single handed when needed.
Gary can definitely help with monos too. Shoot him an email at bigyachts@gmail.com to get in touch with him. Also he's got enough industry contacts that if he can't help you, then he definitely knows someone who can.
This video is a year old, and i am wondering if anything has changed in the, "best place to buy a boat"... i am looking at a trawler or cruiser. What would be best with less taxes. Is there a state or country that will be better with the taxes? Less taxes is best taxes. I want to sail the boat home to FL. I was thinking of buying from Bahamas or Maryland. I hear taxes are cheaper there, is this true. Is it better to get a forcloser boat? I wanted one 40 foot or 45 foot, whatever i get the best deal. I know it is dangerous to sail a boat over seas that is forclosed or unused in a while. But i was going to sail it around, where i buy it for a day or two before sailing it home to fl. Thanks for any updated info.
awesome...loved it...get gary to tell stories of buys/sells, smart choices made, dumb choices made...real life examples. this guy is great...cut him loose..
Loved the Video. Would like to see more. I am currently saving and looking to purchase my first sailboat and I found this video to be very informational. THANKS!
Thank you Ryan and Gary for more excellent information. I thought I had post sale costs under control but it appears I missed some rather important ones. There may be government laws trying to tax fun loving people out of existence.
Keep in mind that since the Fukushima disaster the Op is not as harmless as on may think, Japan has been dumping over 300 tones of radioactive waste water into the Op Daily since 2011 with no end in sight. Contrary to what you may hear, radioactive waste doesn't get diluted because it doesn't decay enough for millions of years. Radioactive waste spreads into thin areas yes, but also accumulates in algae and the food supply. Remember that the accumulation continues with no end in sight, I rather have the hurricanes and tornados than radioactivity
Ryan, this was an excellent, informative video once again! Such great information that you wouldn't know otherwise. I really love your videos for that reason so thanks a bunch. The interview style is fantastic, it definitely gives a more realistic perspective to those of us who are planning our escape to the sea and new to how this lifestyle really works. Love it. Peace & fair winds
great video! I'm wondering if Gary would know what the taxes and associated fees would be if you buy cat on one of the French Islands and want to store it in Puerto Rico when not in use? Thanks,,Brian Swanland
How does one go about placing a value on a sailboat? I imagine there isn't a Kelley Blue Book out there for boats. This would be a good topic to touch on.
I really like these videos with Gary. I find them very informative and interesting. I used to own a boat and in the future would like to own again and live on it. As of late I have become more interested in the sail cats.
Love this video! We are two years out of buying a cat and cruising the Caribbean. Taking no sailing classes this fall and are hungry for all informations. Thanks and look forward to more!
In MD we registered the boat and then filed USCG Documentation. It cost us $24/yr for MD and $24/yr for USCG renewal. We paid the MD 5% tax. I have a friend that bought an expensive boat and did the DE thing, he got hit twice in two years for MD tax and no is USCG documented with DE Reg. Each state has it's own rules and regs but the USCG Doc trumps them all. If your boat as a Tax Paid sticker for MD and NO Reg codes on the bow the officer will look up the USCG info on it and if it's good, he moves on. I spent a 6hr class in MD dealing with this that was hosted by USCG and the State of MD/DE. They did mention Florida tax people that will force you or try to make you pay the tax but ANY vessel with a valid USCG Doc can DOCK anywhere in the USA plus Territory without penalty for any time as the USCG Reg is up to date. But that's what I was told in class by the MAN himself. Deleware rep and MD rep both said they are fighting tax avoiders pretty seriously for the last two years and will continue. DE's system was made available to all 50 states to verify documentation and they'll know if you were reported in FL for 6 months. I used CGDocument (dots) coms to get my USCG because the previous owner refused to help. They got it done cheap. But if you do it on your own it's around $150 then $24/yr. And it's listed like a State and your the Governor.
Would you mind elaborating on this if possible please ? Are you saying that you register your boat with your state and then get a USCG reg number ? I thought that when you register with your state you have to have a declared value and then you have to pay use/sales on that declared value. This is the situation with the DMV in CA anyway. I'd like to hear more if there's a way around this especially if I go state hopping and cruising. Thanks.
When we bought the boat in MD, we paid the 5% sales tax. Then filed USCG documentation. Once this is done we still pay the MD reg fee but it's a USCG Doc boat so no more state registration number. So to get around the sales tax what most do is Register in Deleware, then file USCG documentation. This is done because a USCG boat can sit in any US water. I have a friend that's done this for the last 4 years. Our boat home port is Hilton Head Island, SC with a MD registration sticker on the bow. My dock neighbor is a USVI boat home port with a Delaware reg sticker on the bow. No issue. IF your bow has a state reg number, THEN there's an issue. No number = USCG ala Federal registered vessel.
S/V Redemption, I'm a little confused. Your friend that got hit twice for MD tax, did he or did he not also have USCG registration at the time? Thanks.
At 19 mins, Gary Fretz says that Malta is not a member of the EU, so cruisers can go there to get around the residency issue and then go back 'into' the European Union. Malta has been an EU member since 2004, and joined the Eurozone (our currency union) in 2008. There are however some benefits in registering your hull in Malta, which has enjoyed a long and rich maritime culture, going back to the dawn of civilisation. Please note that this is not a 'plug' for Malta, which I've only visited once, since I am Irish and live in the Emerald Isle. From what I've heard, most cruisers shift into and out of Turkey (if in the eastern Mediterranean) or Morocco if in the west. Northern Europe does not have quite the same attraction, but you can use Norway or (from March 2019) the United Kingdom for the same purpose. Mind you, I wouldn't plan on visiting the UK in the immediate aftermath of their 'Brexit' as there is bound to be enormous confusion, both there and in the remaining members of the EU, with regard to a huge number of issues. Boating regulation is not likely to be amongst the first or most urgent matters which will be clarified, so don't risk ruining your day/week/month/year or even decade by relying on outdated regulation. Or inaccurate advice...
Great video Ryan. I learned a lot. I'm certainly going to want to buy our Cat with the least amount of taxes and unneeded expenses. Gary seems like a good resource to have and use.
Very good video. He was wrong about one thing though - you cant go to Malta to go out of EU because Malta is part of EU. He talk about cheap docking for $300 a month. Here in Sweden you can have a dock for 4m wide yacht for between 3-4000 SEK (equals today about 290-390 dollars a YEAR including Electric, suar, water.
No Sir. You are confusing Malta with Cyprus. Big mistake. Malta is ENTIRELY within the EU. Cyprus, however, was invaded by Turkey in 1974, as a result of which a Turkish-speaking "Republic of Northern Cyprus" was established. Neither the EU, nor any nation other than Turkey, recognizes this division. Although, in principle, ALL of Cyprus is part of the EU, in practice the Republic of Northern Cyprus does not function under EU rules -- including VAT tax rules. THEREFORE ,,,,,,,,,,,,,,,, If you want to keep your boat within the EU, while avoiding VAT, sailing to Malta once or twice a year will NOT help. Instead, you would need to sail to Northern Cyprus. But at that point, you might just as well sail to Turkey proper - only 50 nm away. For that matter -- you might as well just keep your boat in Turkey period. Excellent marinas, modern facilities, very nice people.
![How Much Does it Cost to Own a Ferrari? [Fuel For Thought]](http://i.ytimg.com/vi/hHDB5pBXyyY/mqdefault.jpg)
What do you guys think? Should we do some more interview style videos like this? We have an opportunity now to do videos like this while we're waiting/saving to buy our boat.
This is the kind of video that people are looking for. Informative, to the point, a very knowledgeable guest. Excellent video!!
There is only so much personal research a person can do to learn about certain topics. At some point real-world practical advice from experts in their respective fields become invaluable as a tool for learning what really matters. This was great in this regard. As for my own antidotal estimate for ongoing general boat maintenance and repairs: 7 percent of the purchase price each year for boats less than ten years old. 10 percent of the for boats older than ten years old.
Thanks. Great discussion. I learned a lot. I'm glad he mentioned he can help with a purchase in Europe and how to avoid the VAT because that is where I plan to purchase and spend up to a year before heading west. Your guest sounds like he really knows his stuff. He really helped me with a punch list of alot of things to consider.
VERY informative. My wife and I are planning for a few years down the road... this is very helpful for setting up future plans.
I think this was pretty helpful. Most of his information is based on cats, but I'm interested in a 30-38 foot mono.
Thanks so much for your videos ! They are by far, the best, most informative and true to life that i have been watching. So much to learn and know after the sale. Your guest needs to write a few books !!!
This is a GREAT video!! The amount of information here is untoped by any other video I have EVER seen on line about taxes, fees, registration, on going fees.. it just amazing!!
Great job..please keep it up. Thank you!
Really enjoyed this video and surprised at the high costs of registration, Insurance, so many other fees and upkeep costs. Comparing our future fulltime living situation; 200k Cat vs. Motorhome vs. Residential Home options, my impression now is the boats are by far the most expensive. We love the water but day use rentals and private charters may be best for us and hassle free. Great video Thanks!!
Just listening to The Expert Gary Fretz means that what ever this guy charges for his services is WORTH IT. I really enjoyed listening to an expert who really knows what he is talking about. Learned a great deal with this video. thanks
Hi Ryan - I’m 2 years out but this was the best information I’ve seen yet anywhere! Great stuff here - Gary is excellent ...as were your questions ! Thank you
Excellent information for all of us dreamers. Thank you.
I like the video. Very informative. The taxes are tricky. I read that Florida capped the taxes at 18K because it costs about $20K to do a full foreign vessel. Texas has really gotten into charging use taxes for Texas residents who bring their boats here. And that is 6.25% like cars. So, as a Texas resident, if you want your boat in Galveston or are visiting Galveston, be sure of the rules.
Hey Ryan, very interesting Thanks. So here's a situation. Let's say I live in Florida USA (Permanent Resident with Greencard) and work in the USA fulltime but I want to buy a boat in the Carribbean (made in Australia).
1) Do I have to pay 6% Florida State & Use tax immediately? or only when the boat enters US waters?
2) Assuming I don't have to pay taxes until boat enters US waters, but I want FL registration is that an option? while boat remains in the Carribbean?
3) Will insurance cover the boat (while in the Carribbean) below Hurricane Zone.
4) When is customs/import taxes due? (is it based on surveyed value or on on hull value without the equipment) as your guest mentioned?
Thanks for the great video. Gary is the real deal. It's great hearing people who actually know what they're talking about!!!
Great video this is very important stuff.
I am a Canadian, I read from someone that stated that If I purchase a boat outside of Canada, I should register it as a Canadian vessel, and that I would not have to pay the Canadian VAT tax until I brought the vessel into Canadian waters. As your broker stated that he has a way to avoid VAT taxes from other countries. I have also read about buying a vessel in Florida and to avoid the Florida state tax you take the vessel 3 or 6 miles off shore with a newspaper of that day, take a photo of the paper with the gps coordinates tp prove you were outside the state.. any more info on this would be great.
Thoughts on a nice weekend boat? Like a cruiser, Sundancer, Regal express? Are they a money pit or actually something worth while? 2004-2008 years with dual motors ideally…
To everyone who is thinking of starting their own business, believe in yourself and never give up.Your future self will be thankful
Money left in savings always end up used with returns.
True though unfortunately mine always end with losses
You do not really need someone to tell you how to invest your coins, you can make research on your own and trade with expert to guild you through
In few years time a lot of people will regret why they miss this great opportunity of earning.
I have heard of many brokers I do hope they can help me
I had no idea it was this complex thank you for clearing it up.
Oh, yeah, David. That's why my nonprofit corporation owns the boa: then it is exempt from all taxes.
WOW - to both of you. This interactive style is easy to follow. A lot of really solid information - and - some damn good advice.
Thank you for sharing...
My wife and I are planning on doing the cruising lyfestyle and this is the most informative video I have seen
what about the cost of repairs like how often you have to replace sales, and how much sails cost. Lines, masts, Do you have to scrub the hull from build up after a certain amount of time? Just very curious on general maintenance and upkeep. Thanks! Great video by the way
EXCELLENT INFO.
The more you know before you buy makes all the difference in the world.
Cool I have been to Gary's web site many many times and I have emailed him a few times discussing Catamarans. It's good to have seen this video, not only does it put a face to the name, but it also displays a lot about his character, thank so much both of you.
interesting, Thank You .a lot of things to think about , be prepaired to have a binder FULL of documentation depending on what and where
Excellent information. This gent knows his business.
Ive just inherited a170 meter superyacht and listening to the expert makes me think i should sell but i wont out of respect. I think this is going to cost but i will be looking up the Del state once its had a refit. Thanks for the great info.
Good luck hope u get to use it
Very very informative!
Gary is a great guy with allot of knowledge.
Please make more of this kinda stuff.
Keep vlogging!
Will do! Thanks for the comment. :)
I am using Gary for my Catamaran. A wealth of knowledge. Highly recommend.
Since buying yacht is a global transaction a lot of times, cost of delivering yacht, taxes, insurance, adapting European specs to north american, power conversion of 220V to 110V, EPA requirement, warranty coverage and whether it is transferable once imported. These are good points for you to touch upon
I take care here in Portugal, to make the registrations in Holand or Belgiun,and you after make the registration, in one place or another,you only have to pay small tax every three or five yaers,and is no more than 200€.
Many people is doing that change,and you only need to have enshurance here in Portugal,nothing else...
Hi. I’d like to know more about insurance and cruising area limitations and issues related to insuring an older boat. Thanks!
Wow, the state of Delaware is also where most new startup companies incorporate their businesses regardless of where they are based. Fascinating!
gary speaks with experience. this is one of the good ones. but it's a challenge to cover so many areas, and also to diverse audience with a whole spectrum of needs
I just love the shirt.
This has been very informative, thank you.
Great video and wow your guys pay incredable insurance rates. I had to go check my paperwork to make sure i was actually covered on my boat as i pay $750 a year on a boat estimated last year at $125K here in Canada.
Is it true that post purchase expenses are 10% of the purchase price??
Hi dear do you need help getting a new boat?
Great show looking forward to more information
Very good video! Well thought out and informative. It's nice having other professionals bring their experience and knowledge too!! Thanks
Awesome Video. Thank you Ryan and massive thanks to Gary, i could shout him beers and listen all day to Gary on boating. Talk about great knowledge shared from the horses mouth. Brilliant!!!!!!!
To register a Documented Vessel over 3 tons displacement in Canada $10.00 and is done through the Canada Coast Guard. To License a vessel under three ton's displacement in Canada is Free and is done through Customs Canada. The owner of any vessel is required to have a Canadian Boaters Licence and is a test with a $35.00 fee.
I'm planning on getting a smaller boat used. I'll want to charter and do some eco tours. Do I need to register as a business??
And Many Thanx again for your Floor Plan tool. It helps with saloon comparison and hull beam on various cats as I learn about design.
what are the economics of cruising and then finding clients to rent your boat as a skippered charter?
Do you need to register a boat twice? Once with the state and again federally/Coast Guard? Is there a benefit to register with both the state and the Coast Guard?
Wow. A salesman with ethics.
Thank you
This was very informative even for those that have had boats before. Good job.
Great video, Ryan, you are a skilled interviewer and Gary was a great guest. I learned so much!
Thank you so much to you both for all the extremely valuable data found in this video
Have I not known the various options having purchased a yacht regarding taxes and that of registering my boat as a corporate business and subsequently saving a good percentage in ownership regarding all of the previous mention, I would be bit concern with post cost ownership. Thanks Gary! I extend the same to Jessica and Ryan. PS...I like to know what are the advantages of purchasing a boat offshore/
I loved this interview. Very informative.
Great vid. You just answered 50 questions that i didn't even know I'll have until next spring.
This is such a great video! I do have a question though, if I’m located in Texas and I have a houseboat can I register it in Delaware and still be here in Texas or do I absolutely have to register it in Texas where it will be kept?
Thanks for all the helpful videos!
Hi dear do you need help getting a new boat?
Tax and care. That's what people usually don't know in detail. With this video can provide an overview. Thanks.
Dude thank you so much ! big help !!! in short call Gary and pay him to handle it ;) got it
Very informative, practical tips from real life that are very useful, thanks for posting.
great video. Really appreciate the hard work that you put in to make these videos
Excellent and so informative video....thanks Ryan and Gary.... great tips.... I saved Gary's website into my favorites..
Malta is not outside EU. There is no cruising permit for one year or any period of time. You can bring a boat in for upto 18 months without paying VAT (if you are not an EU resident).
Ryan, this is all good information. Everyone can learn something from these videos
Great work. Looking at a purchase in excess of 500k and need to do a little more homework thanks to your video. Lots of taxes and find it interesting he did mention Taiwan vessels. Maybe there's a different tax schedule for them?
Maintenance is really a big question and it really boils down to what you can do verses what you can't due to your lack of knowledge. Like I wouldn't know how to correctly replace the "heat exchanger" on an engine but I sure know how to flush one out. Stuff like that. But it would be nice if he could provide a range. Typical 50 ft, 5 year old, twin screw, cruiser. 12k to 16k annually?
Great information, thank you for sharing.
Do you know, does he work on just sail, and if so both cats and mono, or will he represent as buyer broker for power as well? I already know what I want but don't have a clue all the ins and outs of buying. I can tell you it will most likely be a 64 or 78 ft FPB yacht. Mainly because my back injuries will make sailing rather difficult and painful where turning switches and pushing buttons will be much easier on me physically. Especially considering I will be crossing oceans and a good portion will be single handed. So, I need representation not on cats. The Amel 54 would be nice but that's alot of sails to deal with where the FPB is a tank. Awsome boat and easily single handed when needed.
Gary can definitely help with monos too. Shoot him an email at bigyachts@gmail.com to get in touch with him. Also he's got enough industry contacts that if he can't help you, then he definitely knows someone who can.
Thx Ryan and Gary for making this video. I have a better understanding of this subject...
I've seen a few of your videos! But this is the type of video that made me subscribe. Very good info.
...you should invite Mr. Know How's like Mr. Gary Fretz.
This video is a year old, and i am wondering if anything has changed in the, "best place to buy a boat"... i am looking at a trawler or cruiser. What would be best with less taxes. Is there a state or country that will be better with the taxes? Less taxes is best taxes. I want to sail the boat home to FL. I was thinking of buying from Bahamas or Maryland. I hear taxes are cheaper there, is this true. Is it better to get a forcloser boat? I wanted one 40 foot or 45 foot, whatever i get the best deal. I know it is dangerous to sail a boat over seas that is forclosed or unused in a while. But i was going to sail it around, where i buy it for a day or two before sailing it home to fl. Thanks for any updated info.
awesome...loved it...get gary to tell stories of buys/sells, smart choices made, dumb choices made...real life examples. this guy is great...cut him loose..
Loved the Video. Would like to see more. I am currently saving and looking to purchase my first sailboat and I found this video to be very informational. THANKS!
Thank you Ryan and Gary for more excellent information. I thought I had post sale costs under control but it appears I missed some rather important ones. There may be government laws trying to tax fun loving people out of existence.
What’s the kind of map behind you called and where did you get it?
Keep in mind that since the Fukushima disaster the Op is not as harmless as on may think, Japan has been dumping over 300 tones of radioactive waste water into the Op Daily since 2011 with no end in sight. Contrary to what you may hear, radioactive waste doesn't get diluted because it doesn't decay enough for millions of years. Radioactive waste spreads into thin areas yes, but also accumulates in algae and the food supply. Remember that the accumulation continues with no end in sight, I rather have the hurricanes and tornados than radioactivity
This video is solid gold.
Wow. So much for the freedom of living on your boat
Ryan, this was an excellent, informative video once again! Such great information that you wouldn't know otherwise. I really love your videos for that reason so thanks a bunch. The interview style is fantastic, it definitely gives a more realistic perspective to those of us who are planning our escape to the sea and new to how this lifestyle really works. Love it. Peace & fair winds
Thanks Kia, glad we could help! :)
great video! I'm wondering if Gary would know what the taxes and associated fees would be if you buy cat on one of the French Islands and want to store it in Puerto Rico when not in use? Thanks,,Brian Swanland
How does one go about placing a value on a sailboat? I imagine there isn't a Kelley Blue Book out there for boats. This would be a good topic to touch on.
I really like these videos with Gary. I find them very informative and interesting. I used to own a boat and in the future would like to own again and live on it. As of late I have become more interested in the sail cats.
3 years out... very excellent info! ty
Great and informative video, Thanks
Love this video! We are two years out of buying a cat and cruising the Caribbean. Taking no sailing classes this fall and are hungry for all informations. Thanks and look forward to more!
Very cool! Thanks for the comment. :)
Wow very informative! Thank you both! It does give me some ideas on cost. 👍👍👍👍👍👍
How much does it cost after purchase? How much you got?
Gary..
If I hold a U.S. coastguard 200 ton license, not sail, will I get the discount.
3 boats for bluewater you suggest with 25,000 budget
Can a foreigner register a boat in Delaware, at same rates or is that for US Citizen only?
Hi dear do you need help getting a boat?
In MD we registered the boat and then filed USCG Documentation. It cost us $24/yr for MD and $24/yr for USCG renewal. We paid the MD 5% tax. I have a friend that bought an expensive boat and did the DE thing, he got hit twice in two years for MD tax and no is USCG documented with DE Reg. Each state has it's own rules and regs but the USCG Doc trumps them all. If your boat as a Tax Paid sticker for MD and NO Reg codes on the bow the officer will look up the USCG info on it and if it's good, he moves on. I spent a 6hr class in MD dealing with this that was hosted by USCG and the State of MD/DE. They did mention Florida tax people that will force you or try to make you pay the tax but ANY vessel with a valid USCG Doc can DOCK anywhere in the USA plus Territory without penalty for any time as the USCG Reg is up to date. But that's what I was told in class by the MAN himself. Deleware rep and MD rep both said they are fighting tax avoiders pretty seriously for the last two years and will continue. DE's system was made available to all 50 states to verify documentation and they'll know if you were reported in FL for 6 months.
I used CGDocument (dots) coms to get my USCG because the previous owner refused to help. They got it done cheap. But if you do it on your own it's around $150 then $24/yr. And it's listed like a State and your the Governor.
Would you mind elaborating on this if possible please ? Are you saying that you register your boat with your state and then get a USCG reg number ? I thought that when you register with your state you have to have a declared value and then you have to pay use/sales on that declared value. This is the situation with the DMV in CA anyway. I'd like to hear more if there's a way around this especially if I go state hopping and cruising. Thanks.
When we bought the boat in MD, we paid the 5% sales tax. Then filed USCG documentation. Once this is done we still pay the MD reg fee but it's a USCG Doc boat so no more state registration number. So to get around the sales tax what most do is Register in Deleware, then file USCG documentation. This is done because a USCG boat can sit in any US water. I have a friend that's done this for the last 4 years. Our boat home port is Hilton Head Island, SC with a MD registration sticker on the bow. My dock neighbor is a USVI boat home port with a Delaware reg sticker on the bow. No issue. IF your bow has a state reg number, THEN there's an issue. No number = USCG ala Federal registered vessel.
S/V Redemption, I'm a little confused. Your friend that got hit twice for MD tax, did he or did he not also have USCG registration at the time? Thanks.
Gazza,
You are exactly right. I just sent a question to viewer above about his Hawaii Amazing deal. I'll share with you when he responds.
Informative. Thank you
I’m a foreigner, can I still do this in your country, like this Delaware registration, if I decide to buy a 40 ft sail yacht, in your country ?
Do retired Military get any breaks.
Hi dear do you need help getting a new boat?
Great video thank you 😊 so much for the information
So I pay tax of the cost of my ship, for everywhere I visit? So like I buy in California visit Colorado and then Texis I pay it THREE TIMES?
Gosh it's just one big rip from start to finish would've been interesting to know how much a sales person charges when purchasing a boat.
Very informative, I'm thinking about a cruiser around 42' live aboard and the tax situation is an eye opener. Thank you.
Great information, thanks for sharing!
I am a South African looking to purchase a s/v tayana 38, in America. What is the paper work requierments and would like to regester in Cape town
Excellent video, awesome info and advice! Thank you!!
Just for Mr. Fretz information: Malta is a European Union (EU) country.
At 19 mins, Gary Fretz says that Malta is not a member of the EU, so cruisers can go there to get around the residency issue and then go back 'into' the European Union.
Malta has been an EU member since 2004, and joined the Eurozone (our currency union) in 2008. There are however some benefits in registering your hull in Malta, which has enjoyed a long and rich maritime culture, going back to the dawn of civilisation.
Please note that this is not a 'plug' for Malta, which I've only visited once, since I am Irish and live in the Emerald Isle.
From what I've heard, most cruisers shift into and out of Turkey (if in the eastern Mediterranean) or Morocco if in the west. Northern Europe does not have quite the same attraction, but you can use Norway or (from March 2019) the United Kingdom for the same purpose.
Mind you, I wouldn't plan on visiting the UK in the immediate aftermath of their 'Brexit' as there is bound to be enormous confusion, both there and in the remaining members of the EU, with regard to a huge number of issues. Boating regulation is not likely to be amongst the first or most urgent matters which will be clarified, so don't risk ruining your day/week/month/year or even decade by relying on outdated regulation.
Or inaccurate advice...
Go to the UK it won't be part EU soon !! This might be a big boon for European cruisers !!!
Lots of fine print, holy smokes.
Great GREAT video. Just subscribed to your channel. Thank you!
is this import hull tax a one time deal or does it happen every time the boat changes hand?
I think he said as long as you don't lose the papers the next buyer won't have to pay it.
We like this kind of information 👍
Great video Ryan. I learned a lot. I'm certainly going to want to buy our Cat with the least amount of taxes and unneeded expenses. Gary seems like a good resource to have and use.
Thanks. Yeah he's a good resource and can definitely help you get it done.
Very good video. He was wrong about one thing though - you cant go to Malta to go out of EU because Malta is part of EU.
He talk about cheap docking for $300 a month. Here in Sweden you can have a dock for 4m wide yacht for between 3-4000 SEK (equals today about 290-390 dollars a YEAR including Electric, suar, water.
Half of Malta is in EU and half of it is Turkish (i.e. out of European Union)...
No Sir. You are confusing Malta with Cyprus. Big mistake.
Malta is ENTIRELY within the EU.
Cyprus, however, was invaded by Turkey in 1974, as a result of which a Turkish-speaking "Republic of Northern Cyprus" was established. Neither the EU, nor any nation other than Turkey, recognizes this division.
Although, in principle, ALL of Cyprus is part of the EU, in practice the Republic of Northern Cyprus does not function under EU rules -- including VAT tax rules.
THEREFORE ,,,,,,,,,,,,,,,, If you want to keep your boat within the EU, while avoiding VAT, sailing to Malta once or twice a year will NOT help. Instead, you would need to sail to Northern Cyprus.
But at that point, you might just as well sail to Turkey proper - only 50 nm away.
For that matter -- you might as well just keep your boat in Turkey period. Excellent marinas, modern facilities, very nice people.
Really enjoyed the video. Gary spoke to boats that "age well" and I wonder if you ever discussed that issue in any of your pod casts. Thanks.