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What are the general legal requirements for buying a boat in the USVI and keeping it here for private use? My brother is coming down to look for a cruising sailboat, and I'm trying to get a few answers for him ahead of time.
I'm aware that the owner must register it with DPNR, and display the number and decal on the bow, etc.
I'm aware of mooring and anchoring permits and fees.
Is there a transfer fee or purchase tax?
Is any type of insurance, certification, license or inspection required?
Are there residency requirements for any of the above? Anything else?
Thanks much for your assistance!
Posted : October 19, 2006 1:46 pm
If he's buying a boat in the USVI then he won't have to pay any taxes. Whoever imported the boat down here initially already paid the only taxes that would be applicable.
You do not "require" any "insurance, certification, license or inspection" for private vessels. If he's intending to charter it then, yes.
Residency? As in USVI residency? No.
Posted : October 19, 2006 4:57 pm