Understanding Safety Surveys

A boat safety survey is a detailed vessel inspection carried out by a qualified marine surveyor for the purpose of assessing its overall condition and seaworthiness. The goal is to confirm that the boat can safely be used for its designed purpose and identify what repairs or maintenance work may be needed, either immediately or in the near future. There are different times and reasons for arranging a safety Read More

4 Steps to Registering Your Vessel in Florida

Florida law requires all motorized boats that operate on its public waterways to be titled and registered with the Florida Department of Highway Safety and Motor Vehicles. You have 30 days after buying the boat to title and register it, but until the process is complete, be sure to keep a proof of purchase (which includes the date of sale) aboard at all times, as operating an unregistered boat after 30 days is a Read More

Who Gets the Yacht in a Divorce?

When a married couple divorces in Florida, all marital property - which may include a yacht - is subject to equitable distribution. This means that if the couple doesn’t come to their own agreement regarding which spouse receives what assets, the court will attempt to split everything as fairly as possible. With a high-value asset like a yacht that the couple bought together, the typical outcome is that one Read More

4 Tax Mistakes Yacht Owners Make

As April 15 (April 17 if you live in Maine or Massachusetts) draws near, you may be wondering if there is any way that you can claim expenses related to your yacht. Given the fact that boats are big investments that can cost their owners thousands of dollars in operations and maintenance, many yacht owners explore ways that they can “write off,” or deduct, these amounts. The answer is yes. According to the advice Read More

4 Elements of a Departure Manifest

Each time a vessel leaves the United States, the master, owner, or an agent is required to present a collection of forms called a “departure manifest” to a Customs and Border Protection (CBP) officer at the port of departure. This traveling manifest is updated and annotated at each port and consists of the following four primary elements. 1. CBP Form I-418 Also known as the crew list, this document may include Read More

4 Forms You Need for Arrivals/Departures at US Ports of Entry

When a vessel arrives at a U.S. port of entry, the owner, master, or agent must present a collection of forms to a U.S. Customs and Border Protection officer. This package, known as an arrival manifest, consists of these four documents. CBP Form I-418 This form is the official crew list. All crew members are listed alphabetically along with the following details: Date of birth Nationality Travel Read More

Why You Need a Coastwise Endorsement

A coastwise endorsement is a form of U.S. Coast Guard documentation that allows a vessel to engage in coastwise trade that does not require a registry or fishery endorsement. This includes the transportation of merchandise and passengers between points acknowledged in the United States coastwise laws. If you intend to carry out such trade, you need to obtain this endorsement on the Coast Guard Certificate of Read More

Understanding Duty Paid Status

Duty Paid status is part of the “Delivered Duty Paid” process, which is an Incoterm (International Commercial Term). It means that in an international commercial transaction, the seller assumes the following responsibilities: All costs and risks associated with sending the product or products to their destination Taking care of clearance formalities at the point of origin, such as export permits and Read More

Three Steps to Obtain Your Cruising Permit

A cruising permit is issued to foreign-flagged yachts and other recreational vessels from countries that have a reciprocal arrangement with the United States. Once issued, it exempts the boat captain from having to: File manifests, obtain permits, and carry out related entry and clearance procedures each time the vessel arrives at a U.S. port. Pay tonnage tax or entry and clearance fees at every port it Read More

A Brief Overview of Inward Processing

The North American Free Trade Agreement, or NAFTA, provides for duty deferral on goods imported into the United States and subsequently exported to Canada or Mexico. These programs include bonded warehouses, temporary importation under bond, and inward processing. Inward processing is a duty deferral program that allows yachts and other vessels to be temporarily imported into the United States without paying duty Read More