The following update from the YBW.COM forum
Advice on buying a boat in Greece!
Hello! I want to buy a boat in Greece. What are the
pitfalls? How do I register VAT paid? Are there any hidden costs? Do I need to
go to anyone for advice? I intend to retire and live-aboard in the next year -
want to buy now and look around this summer!
YOU dont need to register VAT paid unless you are buying a
boat from outside the EU and importing it to an EU member country - in which
case VAT has to paid at the level applicable in that country. Much simpler to buy a boat which is already EU country
flagged eg UK.
If buying a boat that carries the flag of an EU country make
sure that the seller can prove that VAT has been paid. An original VAT invoice
is the usual document and should insist that that document should be passed to
you as a condition of the sale.
In theory when entering an EU country local customs &
excise can ask to see proof that VAT has been paid, although Ive never been
asked for it! If you are buying a boat from another EU resident then no
VAT is involved, although it is best to get evidence that VAT has been paid.
You will find that boats from other countries are likely to have better
paperwork trails than many UK boats - particularly older ones. You may also
need to get involved in de-registering a boat from another registry, although
normally this is the vendor's problem.
Be aware that many Greek boats are ex charter boats, and may
be offered ex VAT. This means that you will have to pay the charter operator
VAT (23%) for which you will get an invoice. Make sure you include this in your
calculations. You will also need to pay to deregister the boat and transfer
ownership to you. There are also some older charter boats where VAT has never
been paid as before 2002 they were sold (legally) VAT free.
Thinking of
Buying a Boat in Greece and need help?
Contact us at www.yachtsurveysgreece.com
