Forums > Sailing General

Buying a USA yacht in the Solomon Islands

Reply
Created by Stu55 A week ago, 21 Nov 2020
Stu55
4 posts
21 Nov 2020 1:48PM
Thumbs Up

Hi Everyone, I live in Australia and have found a USA registered yacht for sale in the Solomon Islands. If I was to purchase the yacht, how would the registration and transfer of ownership work? Would I need to return the yacht to Australia to be processed? Ideally I'd be happy to keep it in the Solomons for the rest of its life...
cheers...

TKNick
NSW, 115 posts
21 Nov 2020 5:33PM
Thumbs Up

10% GST on the cost of the yacht plus transport/insurance costs. 5% import tarrif unless built in the USA. I read somwhere a while back that you will need to transfer to Australian Rego before sailing it here. Have a look at www.abf.gov.au

Stu55
4 posts
21 Nov 2020 2:49PM
Thumbs Up

Thanks TKNick, My question is really around that I don't want to return the yacht to Australia. I'd like to keep it stationed in the Solomons. Does anyone know if the yacht has to return to Australia for the purposes of registration or can I just keep it in the Solomons? cheers Stuart

Bushdog
ACT, 201 posts
22 Nov 2020 7:38AM
Thumbs Up

I'd investigate this plan carefully. You may be able to register the boat in SI. Insurance will be difficult as it's a cyclone area. There's little n the way of spares and fittings for sale n SI, so all sheets, stainless fittings, everything would have to be imported or carried in when you fly over, with considerable delays and import costs. Secure mooring options are limited, so security is also an issue. Available jetties are made for commercial inter island transport, not leisure cruising craft. The islands of SI rise out of the depths. 50 metres from the beach can be 30 metres depth making mooring risky. The weather coast side of each island is rocky. There are some beautiful coral fringed atolls, but charts are unreliable making navigation... risky.
All the above means current owners may be desperate to sell and the yacht looks like a bargain. If you know SI well, and have close friends living there permanently who can represent your interests and keep an eye on the boat, then it could be an option, otherwise you could end up in a sea of difficulties!

Charriot
QLD, 844 posts
22 Nov 2020 7:11AM
Thumbs Up

Different states have different rules. Registering yacht in SA, present HIN number and it is irrelevant where is the boat or where you live, registering in QLD, must have verified permanent address in QLD. Insurance, luck wouldn't help, it's more involved.

LooseChange
NSW, 2097 posts
22 Nov 2020 2:26PM
Thumbs Up

Select to expand quote
Stu55 said..
Thanks TKNick, My question is really around that I don't want to return the yacht to Australia. I'd like to keep it stationed in the Solomons. Does anyone know if the yacht has to return to Australia for the purposes of registration or can I just keep it in the Solomons? cheers Stuart



When you say registration I am assuming you mean Australian ship registration and not state registration.
You do not have to bring the boat to Australia to get Australian ship registration but if you bring the boat to Australia after getting Australian ship registration and don't have any state registration you will then be deemed to be an unregistered vessel.
On the other hand if you keep the US registration you can bring the boat to Australia without needing any state registration but you will possibly have to pay a refundable surety to ensure you don't try to sell the boat in Australia.
This is my take on what I remember from various sources over the years, it may or may not still be the case now.

john24
33 posts
22 Nov 2020 6:17PM
Thumbs Up

Select to expand quote
LooseChange said..

Stu55 said..
Thanks TKNick, My question is really around that I don't want to return the yacht to Australia. I'd like to keep it stationed in the Solomons. Does anyone know if the yacht has to return to Australia for the purposes of registration or can I just keep it in the Solomons? cheers Stuart




When you say registration I am assuming you mean Australian ship registration and not state registration.
You do not have to bring the boat to Australia to get Australian ship registration but if you bring the boat to Australia after getting Australian ship registration and don't have any state registration you will then be deemed to be an unregistered vessel.
On the other hand if you keep the US registration you can bring the boat to Australia without needing any state registration but you will possibly have to pay a refundable surety to ensure you don't try to sell the boat in Australia.
This is my take on what I remember from various sources over the years, it may or may not still be the case now.


I don't know the US requirements, but most countries require the owner under the countries flag be a citizen or permanent resident.
So it might not be possible to fully transfer ownership and keep it under US flag.

LooseChange
NSW, 2097 posts
22 Nov 2020 9:54PM
Thumbs Up

Select to expand quote
john24 said..

I don't know the US requirements, but most countries require the owner under the countries flag be a citizen or permanent resident.
So it might not be possible to fully transfer ownership and keep it under US flag.




True that, I forgot about that bit ... getting old sucks

Lets try again .... If you buy it you will have to de-register the boat from the US register and then re-register it as an Australian ship, you don't have to import it into Australia thereby no taxes, duties or GST is payable, but once again without state rego you will be between a rock and a hard place if bringing it to Aus.

ChopesBro
256 posts
22 Nov 2020 8:49PM
Thumbs Up

15 Oct 2020 - Travel ? International flights in to and out of Solomon Islands are cancelled. ? You can only enter if you are a Solomon Islands citizen.
I think that might be the way it remains for quite a while too

Stu55
4 posts
Tuesday , 24 Nov 2020 4:08PM
Thumbs Up

Thanks LooseChange & John24, you were on the money..
I spoke with Australian Maritime Safety Authority and they confirmed the below:

Application for Registration
Declaration of Ownership and Nationality
Notice of Appointment of Registered
Agent Statutory Declaration for Builder's Certificate

Appreciate your help......



Subscribe
Reply

Forums > Sailing General


"Buying a USA yacht in the Solomon Islands" started by Stu55