Irish Rover
Veteran Member
There are many boats around Europe flying the US flag which are registered in the state of Delaware. Most of these are owned by Delaware registered LLC'S set up specifically to hold ownership of the boat. Quite often when such a boat is sold the purchaser actually buys the LLC. As I'm sure you can guess this ownership model is designed to circumvent local tax and licensing requirements. I believe this form of US State registration is not actually sufficient for sailing internationally and that USCG registration is required but most European authorities seem to accept it.
I'm currently interested in a boat for sale in Turkey which is Delaware LLC owned and registered. I will be offered the option of buying the entire stock of the LLC. I could alternatively buy the boat from the LLC. The amount involved is North of $300k so I'm naturally more than a bit concerned to make sure things are done correctly. Any and all advice greatly appreciated.
I'm currently interested in a boat for sale in Turkey which is Delaware LLC owned and registered. I will be offered the option of buying the entire stock of the LLC. I could alternatively buy the boat from the LLC. The amount involved is North of $300k so I'm naturally more than a bit concerned to make sure things are done correctly. Any and all advice greatly appreciated.