Quote:
Originally Posted by zacs
large yachts will be owned by foreign shell companies and will fly that country's flag. BVI, Caymans, etc.
then then don't have to comply to all of the same rules we have, like hiring only american crew, safefty inspections, etc..
But I think that there are huge duties they have to pay if they sell to a US company/citizen.
That is my best guess.
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They can sell to a US citizen, just in a non-US location.
Avoids taxes etc.