Affordability and speed are important worldwide and do not require being a US citizen. This benefit can also be used by residents of South America, Europe, Africa or Asia. For example, you may choose to register your boat in the US State of Delaware. This option is attractive to US citizens as well as non-US citizens.
There are some advantages to registering a vessel in Delaware. For example, any non-US citizen can register a vessel in his or her name and also own that vessel by forming an LLC (Limited Liability Company) in Delaware. This exempts the boat owner from various taxes. Some taxes do not exist in Delaware, such as sales tax, personal property tax, intangible tax, or stock transfer tax. Additionally, Delaware does not charge corporate taxes on income earned outside this state.
A Delaware LLC can protect the boat owner or operators from personal liability and also ensure the owner’s privacy. In Delaware, an LLC is not required to disclose information about its members, and this information is not publicly available. Additionally, the process of forming and registering a Delaware corporation is low-cost and can be completed quickly.
Additionally, those who register ships in Delaware may also be exempt from European VAT tax. In this case, you will not have to leave European waters with Delaware documents to prove that you paid VAT on your European ship. This can make the transaction process faster and more cost-effective.
