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  1. #51
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by jfm View Post
    2. Or buy exact same boat but take delivery in Gibraltar. Then sail it to a marina in Spain or France or Italy and keep it there. Cost of boat is now only £1m. You have to sail it out of EU for one marina night every 18mths. Quite easily if you're in Spain near Gibraltar or Morocco. If you're in SofF and choose Tunisia, its 450 miles via nice Sardinia and a bottle of wine with Mapism .
    Correct me if I'm wrong but I understood that this kind of wheeze is possible now although I can see that being a 3rd country citizen after Brexit might make it easier

  2. #52
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by mikef View Post
    Correct me if I'm wrong but I understood that this kind of wheeze is possible now although I can see that being a 3rd country citizen after Brexit might make it easier
    no it's not possible now (generally). To use a boat vat free in eu now, under the 18mth TI rule, the user has to be a non eu person themselves, which a uk person obviously isn't.

  3. #53
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by Portofino View Post
    My point and I think Hurricanes and others is if Eu officials accept the tech route for export then it opens up the huge potential future haemorrhage of VAT from Brit boaters .Wayfaires and all .
    No, that clearly isn't the point you or Hurricane were making. No worries, but it is hard work following your "logic".

  4. #54
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by benjenbav View Post
    Easier just to sail to Tunis, pick a fight with a cop and get the paperwork issued on discharge from gaol...
    Yeah you're right. The doctor might be easy but the 2 legal eagles could make a night in Tunis cells attractive in comparison. Also, the owner doesn't have to make the trip; his representative can do it. So just send the 3 in my dramatis personae on their own, and let them fight it out.

  5. #55
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by jfm View Post
    no it's not possible now (generally). To use a boat vat free in eu now, under the 18mth TI rule, the user has to be a non eu person themselves, which a uk person obviously isn't.
    And if the boat is owned in a non EU company? I find it hard to believe that all those superyachts in the Med owned by EU residents are VAT paid!

  6. #56
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    Apr 2011
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    You can set up a resident Co on the Cayman Islands ( Georgetown ) and be exempted from disclosing the list of directors to the public , or not even keeping the list at the nominated Co Hq on the island .

    Or alternatively you can nominate a local individual for a fee of course .Some locals are nominated as owners ( outside Co,s structure ) 100 ,s of times its there lively hood .

    So the Eu officials can’t trace the owner who as you infer might be a Eu citizen.Not a genuine 3P .

    If they can trace you then - They say ,you are the owner of the company -- and by extension -- owner of the yacht.

    They could work out by surveillance who’s are the main beneficiaries but so what ?
    Jail you if caught http://www.superyachtnews.com/busine...-with-briatore
    Last edited by Portofino; 19-03-19 at 22:16.

  7. #57
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by Portofino View Post
    They could work out by surveillance who’s are the main beneficiaries but so what ?
    Jail you if caught http://www.superyachtnews.com/busine...-with-briatore
    I've been stopped and inspected many times by officials during 16yrs in the Med and been asked for all sorts of documents but I've never been asked for proof of VAT payment. Does the panel think that we Brits will come under increased scrutiny on VAT after Brexit?

  8. #58
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    I,am the same despite what it seems in here every other thread is about VAT and original bos , nobody’s ask to see any proof while the red ensign has merrily flapped away in the warm breeze .
    Partial answer could be if there brain is registering mode in that they subconsciously apply there own rules ie if it’s reg,Ed it’s been VAT paid all that’s been sorted and you flash a nice laminated U.K. cert with a nice queens coat of arms look a like on .
    We know it’s VAT meaningless but do they ?

    As for them targeting red / blue ensigns depends what’s agreed after in a reciprocal nature sos not to interfere mostly with citizens day to day lives .
    Reminds me of the Italian job opening scene after the muiria crash .
    Cain character tells the mafia guy “ if you kill use every Italian restaurant from London to Glasgow will be smashed “
    You see as said it’s 3.2 M of them to 1.2 M of us .
    Then there’s the mayors local economic argument of biting the hand that’s feeds them .
    Apparently I read 18 M Brits visit Spain annually, that’s on top of the 0.8 M permanently living there .

  9. #59
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by mikef View Post
    And if the boat is owned in a non EU company? I find it hard to believe that all those superyachts in the Med owned by EU residents are VAT paid!
    More complex. The TIer has to be the user. If a company is the TIer then clearly the company itself can't be the user, only people can. Now by concession/custom/practice, if the user is a private individual who is the UBO of the non EU company that is the actual TIer then tax officials in relevant EU countries allow TI if that UBO is him/herself a non EU resident, which fixes the issue for non EU folk. But not EU folk, which is the answer to your Q
    By the way, if a yacht is to be chartered then obviously the UBO isn't using it and in that case usually the yacht is imported by a company with an EU vat registration and the import vat is an in and out on the vat return i.e. no cash vat to pay. Of course the charter business is then vatable, which used to be at zero rate in France and Italy but not these days
    Your last sentence is a non sequitur: EU owned super yachts are sometimes not vat paid, but not by virtue of TI.

  10. #60
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    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by Portofino View Post
    You can set up a resident Co on the Cayman Islands ( Georgetown ) and be exempted from disclosing the list of directors to the public , or not even keeping the list at the nominated Co Hq on the island .

    Or alternatively you can nominate a local individual for a fee of course .Some locals are nominated as owners ( outside Co,s structure ) 100 ,s of times its there lively hood .

    So the Eu officials can’t trace the owner who as you infer might be a Eu citizen.Not a genuine 3P .

    If they can trace you then - They say ,you are the owner of the company -- and by extension -- owner of the yacht.

    They could work out by surveillance who’s are the main beneficiaries but so what ?
    Jail you if caught http://www.superyachtnews.com/busine...-with-briatore
    That's total garbage. "EU officials can't trace" is nonsense- they don't need to. When you bring a boat into EU wanting TI, you apply for it. Onus is on applicant/claimant to show whatever facts the officials want proof of, so "can't trace" gets you nowhere. Also you seem not to have heard of CRS, AEOI and FATCA, all of which Cayman has adopted. And finally Cayman just enacted its substance law in a bid to get Ecofin whitelist tax status. The dodgy stuff you hint at mainly exists in the imagination of daily mail journos these days (and the Times today).

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