For a couple of years now we have been chartering sportfishing boats in the Bahamas, now we are looking at buying a 60' Mako. The broker told us the boat isn't for sale to U.S. citizens in U.S. waters, but they are willing to sell it to us in the Bahamas. Can you tell me what the reason for this is and whether it is safe to buy the yacht this way? We plan on keeping the yacht in the Bahamas anyway.
Also, can you tell me the difference between documenting the boat and registering it and what the advantages are, if any?
Hope you can help me with this as we really like the boat, but I want to make sure it is legit.
Thanks,
Danny Ward
Hi Danny,
First a disclaimer - I am not a lawyer and I'm not giving legal advice and I do recommend you get a legal opinion.
What the broker told you about "the boat not being for sale to U.S. citizens in U.S. waters" is a very common occurrence and not to be concerned with, everything is above board here. What this has to do with is "sales tax" or topics along this line. Most likely, the boat was probably never imported into the U.S., but is owned by a U.S. citizen who, like you, kept or will keep the boat in non-U.S. waters (i.e. the Bahamas). Realizing that the boat would not spend much time in U.S. waters, the owner determined that it didn't make financial sense to pay the tax in the U.S. This is done all the time.
Your broker can guide you down this common and simple path. To legally fly the U.S. flag the boat must be registered or documented in the U.S. You can buy the boat in the Bahamas and import it into the U.S. and "register" it in the state you live in, or you can document the vessel in a duty free state like Delaware which would be my choice. Or you can simply leave the vessel foreign flagged in whatever country it is currently registered.
What you need to do is talk with your broker about all the options and a "Yacht Documentation" company like Atlantic Documentation in Annapolis, Maryland; they specialize in this sort of thing. Click HERE to go to their website.
Hope this helps, good luck with your new boat,
Captain Bob Wellen
"Is there a specific primer that I should use or a procedure to follow to prime under the Pettit SR? The boat has a fiberglass/gel coat bottom. Thanks, Tom
Hi Tom,
The damaged area(s) will need to be sanded right back to the hull in order to insure that all the loose or blistered paint has been removed. Be careful not to go through the gelcoat and into the bare matting below the surface, but if you do, apply a couple of coats of Epoxy to act as a primary barrier coat, before you prime and then add antifouling.
You will need two coats of primer before the bottom paint. Check with Pettit, but I believe the part number for the primer is PET-699Q for a quart. There is also a Pettit de-waxer PET-0095Q; if you end up having to use the epoxy, you will need to clean the surface with the de-waxer prior to applying the primer. When you are adding the primer coats, make sure you overlap the undamaged area to form a bonding seal and a nice feathered transition to the existing bottom paint.
The procedure is simple and only requires elbow grease. Sand back to bare gelcoat, and then apply two coats of primer, then you will have a nice surface for the new bottom paint to adhere to and the finished job will look professional.
Happy painting,
Captain Ian Fagg
"Pros
