QuickLinks
Main Office:
p. 401.849.0344
f. 401.849.9018
info@nicholsonyachts.com
Owner Charter Management Information
Importation of foreign flag yachts for charter in the US
If the yacht is purchased in the United States the U.S. tax will be
paid at that time. If it is purchased outside the United States in
order to charter in the U.S. the yacht must be imported and duty
paid.
The import duty is 1.5% of the fair market value of the yacht as
indicated on a recent survey report or invoice.
In order to write a single entry bond for over $600,000.00 the
surety requires a financial statement from the importer. (In the
case of a yacht that we imported last June a letter from the
president of the owners bank verifying that he is a client in good
standing, etc. was accepted as a "financial statement" for the
owner.)
In addition to a copy of an invoice or recent survey and the
financial statement, the customs broker requires a copy of the
yacht's documentation and a power of attorney.
Upon completion of importation, the yacht can charter in the U.S.
under demise (bareboat) contract.
Anthony Motta of Masterpiece International is a customs broker that
we work with locally and recommend. He has offices in both
Providence and Newport, Rhode Island and can be reached at telephone
number 401-851-7916 or fax number 401-851-7962.
