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Update about private yachts
Are US built, privately registered, yachts subject to tariffs?
The answer is no. French Customs has confirmed that US built yachts may enter the EU under Temporary Admission (TA) without being subject to tariffs or paying VAT.
Yachts must comply with the following:
• The yacht owning company must be non-EU
• The flag registration must be non-EU
• The Owner and/or User must not be an EU resident
• The yacht can remain in EU waters for a maximum of 18 months
• On entry, the yacht must make an Oral Declaration to Customs so yacht must enter the EU through a port with a Customs area. In addition, the owning company must authorize the Owner and/or User to be onboard and to use/enjoy the yacht.
Once the yacht has entered the EU under TA it can move freely without the need to discharge any further customs formalities during the 18-month period.
Nothing prevents MCA compliant private yachts to conduct limited charter operations in France and Monaco under a Temporary Admission scheme called YET (Yachts Engaged in Trade). H&V can organize the Oral Declaration procedure with Customs and guide you through the YET procedure.
Give us a call and stay tuned for further updates.
Yachts must comply with the following:
• The yacht owning company must be non-EU
• The flag registration must be non-EU
• The Owner and/or User must not be an EU resident
• The yacht can remain in EU waters for a maximum of 18 months
• On entry, the yacht must make an Oral Declaration to Customs so yacht must enter the EU through a port with a Customs area. In addition, the owning company must authorize the Owner and/or User to be onboard and to use/enjoy the yacht.
Once the yacht has entered the EU under TA it can move freely without the need to discharge any further customs formalities during the 18-month period.
Nothing prevents MCA compliant private yachts to conduct limited charter operations in France and Monaco under a Temporary Admission scheme called YET (Yachts Engaged in Trade). H&V can organize the Oral Declaration procedure with Customs and guide you through the YET procedure.
Give us a call and stay tuned for further updates.
