Gulf Charters Thailand - Yacht Brokers

Gulf Charters Thailand - Yacht Brokers

Gulf Charters Thailand Guide to Purchasing a Yacht in Thailand The purchase of a pleasure yacht represents for most people a substantial investment, s...

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Gulf Charters Thailand Guide to Purchasing a Yacht in Thailand The purchase of a pleasure yacht represents for most people a substantial investment, similar to the purchase of a house. Unlike a car or other machine, a vessel may last for decades. Options to repower and upgrade electronics make the fiberglass boat an item of indefinite duration with older, classic styles often preferred to shiny new models. A pleasure yacht often becomes a very personal, "living thing" with memories attached to it. Yachts, because of their high cost and their mobility, are also subject to many laws and regulations which the purchaser may not be aware of. There is no simple checklist of things to do and avoid in the purchase of a yacht. The intended use of the boat and the financial circumstances of the buyer are the main guidelines but many variables will still be involved. As in everything else, planning is very important. Unfortunately, however, the excitement of a new toy and the sales pressure of brokers often prevent a buyer from a careful analysis of the options. The following is only a general guideline of the various steps involved before and after the purchase of a yacht. The first thing a potential yacht owner should do is to decide the type and size of boat he can afford and will be comfortable with. While this concept may seem obvious, it actually cannot be stressed enough. The choice of boat should be determined by the specific needs and intended use (racing, casual cruising, extended cruising, investment, charter, second home, live aboard, etc.). The prospective purchaser should know exactly what he wants to do with the vessel he is purchasing. Not only is a certain type of yacht unsuitable for certain uses but the legal, financial, insurance and other requirements may be different. Certain yachts are difficult or impossible to insure as are certain skippers without experience or with negative information on their records. Certain vessels may not be insured for certain voyages. If co-ownership is considered, the time to plan for it is before purchasing the yacht. A sales contract is not a step to be bypassed, particularly where the yacht is an expensive one. Many things must be covered in a sales agreement. Among the various issues, you must make sure that you have the right to get the boat surveyed. If purchasing an old boat you may decide to accept certain defects and not others. A clause for post survey negotiations should be included. You should know exactly which equipment is included. Other items to be covered in a contract are the hull or identification number; place of delivery of the boat; terms of payment; liability for loss before and after delivery. Thai law offers one type of vessel identification: registration. The process of registering a new yacht or transferring the registration of an existing yacht is not difficult, but as with many things in Thailand it has it intricacies and processes that must be followed for a pain free experience. Gulf Charters provides this service inclusive in all of our new boats and can also provide this service for brokerage boats for a fee. Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

Vessel insurance refers to two types of coverage: hull and indemnity. In other words, one covers the value of the yacht and the other the liability of the owner. The difference between "boat insurance" and "yacht insurance" is that in yacht insurance you get what is known as "agreed value". In case of loss, no depreciation is taken. Virtually all new vessels carry insurance while many older boats do not. As some skippers put it, "it's a better investment to put the premium money in an extra anchor". Insurance options are almost unlimited. Certain boats are uninsurable as are certain blue water passages or certain destinations. In the end, where the purchaser obtains free title to a yacht, it will be his call to determine what type of insurance, if any, is appropriate. Most insurance companies in Thailand will require a survey if you are purchasing an older yacht. A survey is also a good way to locate potential problems. Not all surveyors are alike, however. Check the references of the marine surveyor, Gulf Charters has several surveyors we work with and can recommend. In the event of mistakes by a surveyor which lead to the purchase of a defective vessel, the only real comfort will be an error and omissions policy covering the surveyor, there is really little recourse, so be sure to investigate in detail what the surveyor finds as well as your own detailed inspection of the vessel. If the plan is to charter out the yacht, appropriate arrangements should be made and a business plan should be prepared. Most charter companies, for example, do not take types of boats into their fleets. This information should be on hand before a yacht is purchased. The financial and tax consequences of placing a yacht into charter service can also be significant. You should get all of the details from the Yacht Charter Company before you finalize your purchase. As in the case of a charter, sharing the yacht is a decision which will seriously affect the use of the yacht. Along with the sharing of expenses, a sharing arrangement also calls for the assignment of rights and duties of the co-owners. Finding a partner for the ownership of a yacht is akin to finding a roommate. There is no substitute for the search of a compatible person with a compatible schedule and needs. But certain rules should be in writing in the form a co-ownership agreement. The agreement should spell out how and where the yacht is to be kept and used, how it will be financed and insured, who will provide the maintenance, who and when will use it, a conflict resolution clause and other items. The purchase of a used yacht presents a complication which is not encountered in real estate and automobile acquisitions. In addition to the regular liens of record such as mortgages, vessels are subject to maritime liens, also known as hidden liens. A person who has performed work on the yacht or provided services or supplies to it may have a claim against the vessel itself and therefore a lien. The owner of a lien on the vessel can bring a proceeding against the vessel itself. Some liens may be registered with the local authority where the vessel has been registered or used, but that is not always the case. Yachts can move and incur liability in areas that are very far from the point of sale. There is no certain way to identify all possible liens and the history of the vessel is usually the best way to establish clear title. Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

If you are a longtime boat owner, you know that owning a boat is a costly affair. Making decisions that keep not only the cost of your initial purchase, but also the long-term cost of ownership, well within you financial means are one of the critical factors of keeping the pleasure in boating. It’s very hard to enjoy your boat when it becomes an unexpected drain on your financial resources. If you're buying your first boat, or are making a considerable step up in size, the following are some important points that should be carefully considered to help you achieve maximum enjoyment from your purchase. Initial Cost One of the most important considerations is keeping the total cost of your purchase well within your financial means. One of the considerations often overlooked when purchasing a new boat is what the vessel will be worth a few years later in the event that you suddenly need to liquidate. We all know that the moment we drive a new car out of the dealership, it immediately loses 25% or more of its value. And although the immediate depreciation rate of most new boats is not quite so bad, the owner of a newer vessel is going to take a hit in the event that he has to suddenly sell. Quality -vs- Quantity we seem to be living in an age when price and quantity are more important to consumers than quality. First time buyers in particular are often more interested in finding the largest size vessel for the least cost. This is a mistake. Boats float in a very corrosive fluid: sea water. Added to the corrosive effects of sea water are the effects of sunlight, rain and the rough conditions of oceans. In other words, boats float in a rather hostile environment, a factor that should make getting the best quality for the money a primary consideration. Increasingly, boat builders are succumbing to marketing fads, sacrificing quality for appearance, style over safety and function. More and more builders turn to designers of fashion in an effort to snare the inexperienced into keeping up with the Joneses with the latest stylistic offerings. Succumbing to style over substance can be a costly mistake when, a few years later, when the trendy design is out of style and all that showroom glitz and gloss turns to rot and rust under the effects of the harsh marine environment. There is no more instructive exercise than by taking a tour through a marina or boat yard and observing what boats look like after they're a few years old. Their age can be easily determined from the hull number on the stern. Take a look at how those glittering showroom finishes are holding up in the real world. Has the gel coat turned chalky after only a few years? And what about those fancy graphics? Is the paint fading or is the taped-on feature striping peeling? How about molded plastic parts: are there numerous plastics that are cracked, chipped or broken? Look out for plastic trim and particularly window moldings. Are they painted and is the metal under the paint starting to corrode? Look at the hardware. Is it quality stainless steel, or cheap cast aluminum or "pot metal" parts that are corroding badly? Is some of the hardware painted and the paint starting to come off? Check out the rub rails, for here is one of the better gauges of quality. Are the rails all bent up, loose and distorted, or are there numerous cracks along the hull-to-deck joint? If so, this is a prime indication of Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

poor quality and that the boat is likely to leak excessively, resulting in damage to the interior. Are the outsides of the window frames smeared with caulking, indicating leaking windows caused by a weak and flexible structure? Does it have window frames intended for recreational vehicles, made of non-marine aluminum? One of the more insidious side effects of poorly constructed boats is water leaks into the interior. We have seen the interior of a 5 year old boat be completely ruined after the owner couldn't stop the leaking, despite numerous attempts. The fact that the entire interior is upholstered didn't help. And what about styles du jour, the marine equivalent of the bubble car? Are you willing to invest $150,000 in a brief fashion statement that, in a few years, will leave you holding the bag because the style is passing when you go to sell? Are the decks so rounded that you cannot possibly stand up on them? Is the open cockpit the equivalent of leaving the 1972 Cadillac convertible outside with the top down, an upholstered lounge sitting out the rain, salt and sun? How is all that vinyl covered plywood and plastic going to look a few years hence? This is one of the best ways that I know of to find out how any particular builder's models will hold up over time. Remember that inferior materials such as molded plastics, vinyl’s, plywood decals, cast aluminum and other painted metals can rapidly degrade, and once degraded cannot be restored. Poorly constructed boats are a lot like particle board furniture: once it deteriorates, there's no bringing it back. The costly investment turns into a painful loss. Remember that the reason why quality boats like Catalina, Swan, Tiara, Oyster and Viking cost so much is because of the quality materials that go into their construction. There's a good reason why they don't put interiors on the exterior! A 20 year old Catalina can still be easily resold because its quality components have not turned to dust. If you want to avoid taking a big hit on resale, remember that the glitz and glitter today is less important than how your purchase will look at the time you go to sell. Most upholstery found in open cockpits consists of vinyl over some type of wood, usually cheap plywood. It collects water and can rot away in only a few years as it has done here. New -vs- Used consider your option of new or used carefully. There are very good values to be had in used boats. More first time buyers purchase new boats, while experienced boaters more often buy used. And with good reason. Experienced boaters know that there is better value dollar for dollar in many used boats than new ones. They've already had the experience of taking a big hit in depreciation, along with the high cost of financing involved in a new boat purchase. To help decide which is right for you, consider the following. When we track the depreciation curve for many of the most popular builder's models by determining the net annual loss in resale value, we find that the higher the vessel quality, the sooner the Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

depreciation curve will flatten out. That means that higher quality boats proportionately loose less value than lower quality vessels. For the above mentioned builders, the flattening out usually starts around five years, so that by the time a vessel is 6 years old, the annual loss of value is only a few percentage points. If you truly want to know what the annual cost of ownership is, add in the total principle plus interest to the annual operation and maintenance costs. Then, simply subtract the anticipated residual valve and divide by the number of years owned. For a new boat, this can be an enormous sum each and every year. Perform the same calculation for the purchase of an 8 year old vessel and the cost of ownership comes to only a fraction of that of a new vessel. A general rule of thumb is that a new boat purchase works out better for the owner who keeps a boat longer than the average four years, or at least through the bottoming out of the depreciation curve. Obviously, the longer a boat is owned, the less the annual cost becomes. However, that doesn't help much as far as residual value is concerned unless we consider the original cost versus anticipated resale value. Once we do this, we understand that what they told us was really true: boats, like automobiles, are not an investment but a major expense. If you plan to only own the vessel for a few years, or you anticipate that there is a chance you may have to sell, by far a used boat will be your better value. With used boats, don't make the mistake of equating low hour meter readings with good engine condition. For the most part, engine hours mean little because engines deteriorate over time. Engines that are little used, gas or diesel, are often in worse condition for the lack of use. Also, don't succumb to the myth that marine diesels last for thousands of hours. They don't. The average time between major repairs is around 6-7 years. Or, if you want to put it in terms of hours, around 1500 hours. Marine engines deteriorate rapidly in a salt water environment. Good boats with bad engines can turn out to be a good buy when comparing price differentials against a newer boat purchase, particularly for smaller boats, and boats with gas engines where engine replacements are easier. Many buyers find that they can get a good buy in a boat with clapped out engines and rebuilding or replacing them. If you don't mind the trouble, it may be worth making the price comparison. If the price works out, you end up with a boat with new engines, a real comfort to any boat owner. Older Vessels: While used boats can represent good value; this is true only up to a point. The problem with some boats once they get beyond 10-12 years is deferred maintenance. It is an unfortunate fact of life that many boat owners cut a lot of corners when making repairs, additions or improvements. This is particularly true when it comes to mechanical, electrical and plumbing. While the interior may be beautiful, major systems may have been ignored. On good quality boats, repairs are often done to a much lower standard than the original, so that by the time a decade has gone by, there may be a lot of substandard maintenance and jury-rigging.

Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

On older boats, these problems can accumulate to the point where it is no longer economically viable to restore the vessel when considering the cost of refurbishment versus market value. Nothing can take the pleasure out of boating faster than to get in over one's head financially by underestimating restoration and maintenance costs. When experienced boaters make reference to repairs always costing double what they think it will, they're not kidding or exaggerating. Estimating marine repairs is extremely difficult, even for professionals. And nowhere is the statement, "You get what you pay for," more true than in the marine business. Be wary of vessels with excessive amounts of deferred maintenance or jury-rigging. After the survey is completed, ask a yard to estimate the cost of repairs. If they can't do it, or are having a hard time estimating, chances are that you'll have a hard time paying when the bill comes due. Cost of Ownership: In addition to purchase price, interest and depreciation, the cost of ownership includes maintenance and repairs, something owners rarely consider. For new boats, maintenance is low for the first three years or so. But after three years costs start increasing significantly. Regardless of type, major machinery will often require major repairs in years 5-7. There's a reason why warranties expire when they do, and that's because that's when the breakdowns begin to happen. If you buy a new 40' sailing yacht and sell it after 3-4 years, annual maintenance is likely to average around 4%. The longer you own it, the more it will increase as things wear out and breakdown. The first big hit usually comes when an engine or generator goes bad somewhere between 5-7 years. Obviously, if you own the vessel this long, suddenly the annual average takes a big leap. If you're buying used, then you have to be prepared for this, whether it's an unexpected blister repair job, or some other problem that's not covered by insurance. Of course, with a used boat, that fifty or hundred thousand you saved off the new price more than makes up for "big bill." The point is that in compiling averages, over time we know that costs can be reduced to annual percentages for which an owner should be prepared. For twin screw diesel motor yachts or fishermen, a ten year average will run around 7% annually. After ten years even more. This accounts for all types of maintenance from bottom painting to pump replacements and engine overhauls. Moreover, this assumes that there is little or no deferred maintenance, and for a boat owned since new. If you're getting into a used boat with considerable deferred maintenance, that annual average can increase dramatically, especially when serious problems gang up on you all at once. Yacht Surveyors: The way to find the best surveyor in your area is to ask people who know and are willing to give you an honest answer. Insurance agents, company claim offices and yard managers are in a good position to know which surveyors know their business. If you want a good surveyor, choose your surveyor carefully. The next most important consideration is to make sure that the surveyor has adequate time to do his job, along with good working conditions. The surveyor can't do a good job if he's being hustled by a Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

seller. Nor can he do a good job if too many people are present on the boat. As the buyer, you should accompany the surveyor so that you're available to see things first hand. Sea trials should be conducted in open water not restricted waterways. A brief run up a river or the Intracoastal, interspersed with no wake zones won't do. If weather conditions don't permit an open water run, be prepared to reschedule another day. It’s extremely important to give the vessel a good run. After the survey, avoid letting a broker rush your decision. They all say that if you don't sign today, they got someone who will tomorrow. It’s the oldest con in the book. Surveyors need time to consider their findings, and the survey is not really finished until he has written his report. Most surveyors get their reports done in a day or two, so give him adequate time to finish his job. Purchase Agreements: make sure that your purchase agreement allows you to cancel the deal if the vessel does not meet your standards. Include a stipulation that the sea trial must be conducted in open water for a minimum of two hours. If the seller warrants that he will repair any defects, make sure that you get that in writing, preferably with a maximum dollar amount attached. It is not wise to allow the seller to repair deficiencies himself. The reason should be obvious, but many buyers overlook the possibility that the repairs that the seller makes may not be satisfactory. Indeed, they often aren't. The best procedure is to negotiate a dollar reduction to the sales price and make the repairs yourself, even if there is an element of uncertainty as to cost. Of course you should get cost estimates on deficiencies, and better still a contract price. If you can't get away from the seller making repairs, at least stipulate in the contract that the repair firm must be mutually agreeable to both buyer and seller. What you're looking to avoid is the shade-tree mechanic who doesn't do the job right. Remember that the broker represents the seller, not you, the buyer. If you want to believe their representations, make them put it in writing. That way you have a contract, not just a sales pitch. Concluding the Deal: Don't be too quick to condemn an otherwise good boat that has a major problem such as a bad engine. If you've done your homework and have researched more than just a few boats, you know what is available and at what price. The old saying that the devil you know is better than the one you don't applies. If you can get serious defects repaired well within economic range, you'll probably end up with a better boat than the next one you look at. The reason is simple: if the problem has manifested, it has become known. When you're looking at boats of comparable age, chances are those boats are also well on the way to having similar problems. Therefore, the more problems that can be discovered and repaired, the better off you'll be.

Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

In Summary: • • • • •

• • • •

Make quality a major consideration. Don't try to get the largest vessel that your budget will allow. Better to take a step down in size and a step up in quality. If size is a major consideration, seriously consider used versus new as a means of staying within your budget. Look beyond glamorous interiors, luxurious upholstery and racy designs: the beauty may only be skin deep. Calculate the full cost of ownership, including depreciation, interest, insurance, dockage, fuel and repairs. Figure maintenance as an annual percentage over the period of ownership. Once you've decided on several possibilities, take a tour of a marina or boat yard and see how the products of those builders hold up over the years. Talk to their owners and see what they have to say. Consult a surveyor before you buy. Most surveyors will be glad to help you make a choice. Take the time to find the best surveyor in your area. Make your purchase decision only after you've read the survey report. Consider the advantage of getting major machinery or parts overhauled or replaced based on a reduction in price.

Now I know what to buy, What next? Now that you have chosen your boat, there are still two major options. The first, buying your boat overseas or a new boat and having it imported and the other is buying a boat that is already local in Thailand. Let’s take a look at both scenarios: Import your boat It's 'easy' when you know how... This information is provided courtesy of Gulf Charters Thailand. While every effort has been made to obtain the latest and most accurate information, official requirements do change over time and we make every effort to be as current as possible, but, be sure to check with your logistics agent or broker for the most up to date information. Persons intending to import and/or register a boat in Thailand are advised seek competent professional advice. A pleasure yacht (power or sail) can be imported into Thailand with Customs Duty at zero percent. The only tax applicable is VAT, currently set at 7%. VAT will be calculated on the CIF value (Cost + Insurance + Freight) of the boat. For the purpose of calculating VAT, the boat is valued at its purchase price. However, the Customs Officer must agree that value stated is a fair market price. If the Customs Officer believes the stated Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

value is too low, he will research the price on www.yachtworld.com and may reject the importer's own valuation, even if backed by a Bill of Sale/invoice/receipt etc. The above applies to both new and pre-owned boats. In the latter case, there is room for negotiation on value depending on the boat's condition. Procedures, and the documentation required, are complicated. Employing a professional agency such as Gulf Charters Thailand will remove a lot of the frustration. Below are guidelines on what is required.

Documents required (typically in duplicate, with an original signature)- SUMMARY 1. A Thai individual a. Thai National Identity Card | Household Registration 2. A foreign individual a. Passport | Work Permit | Residence Confirmation 3. A juristic person a. Company Registration | VAT Registration | Trading Permit b. Revenue Tax I.D. Card | Memorandum & Articles of Association c. List of Shareholders (to own a boat, a company must have 70/30 Thai/foreign shareholding) d. Thai I.D. & Household Registration (Thai directors) or Passport and Work Permit (foreign directors) 4. Import documentation (prepared by agent) a. Form 32 (Import License) | Customs Declaration Form b. VAT Receipt | Invoice 5. Boat papers (translated into Thai) a. Vessel Registration or Builder's Certificate b. Memorandum of Agreement or Bill of Sale c. Original Cancellation Vessel License (if the boat is second hand boat) 6. Other a. Letter of authorization (if you employ an agent) b. 2 x 4 inch photos of the boat showing the boat name in Thai

Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

THERE ARE FOUR SEPARATE STAGES IN THE PROCEDURE STAGE 1: Import Permit issued by The National Telecommunications Commission to bring in telecommunication equipment. If there is any telecommunication equipment on board before the vessel is imported (eg VHF, Radar, GPS etc.) this needs to be declared as described below. If there is no such equipment, go to STAGE 2. STAGE 1: Documents required • • • • • •

Picture, brand and model of the telecommunication equipment Invoice showing the price of the vessel Copy of the vessel Registration Paper or Builder's Certificate If the importer is an individual Thai national: copies of Thai National Identity Card, Household Registration Papers, Revenue Personal Income Tax Card If the importer is an individual foreign national: copies of Passport, Work Permit or Residence Confirmation (issued by Immigration) If the importer is a juristic person: copies of Company Registration, VAT Registration (either Revenue No.20 or No.09), Trading Permit issued by Ministry of Commerce, Revenue Tax Card, Thai I.D. and Household Registration of directors (Thai) or Passport and Work Permit (foreign national)

STAGE 1: Time frame 4 - 6 weeks if all documents are provided complete.

STAGE 2: Declaration of importing a foreign vessel. After having completed STAGE 1 formalities, the vessel can be sailed in and out by going through the normal entry procedures. Off loaded from its carrier vessel. STAGE 2: Documents required (if sailed into Thailand) • • •

Original Port Clearance from last port of call Crew List together with relevant passports Passenger List with relevant passports

STAGE 2: Time frame Declaration must be made within 24 hours of berthing in Thai waters.

Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

STAGE 3: After declaration of the vessel's arrival, the following documents are needed to complete Customs import formalities. STAGE 3: Documents required •

• • • • • • •

Invoice relating to the vessel, including the following information: names of seller and buyer, date, invoice number, type, (eg sailing yacht, motor yacht etc), material (eg fiberglass, wood etc), value (eg total C.I.F. Phuket), weight and volume, method of payment, details of the engine (HP, no. of cylinders, serial no.) Inventory list: full details of all equipment on board (no need to show values) Memorandum of Agreement or Bill of Sale Copy of Vessel Registration or Builder's Certificate Photographs of the vessel from four angles/sides If the importer is an individual Thai national: copies of Thai National Identity Card, Household Registration Papers, Revenue Personal Income Tax Card If the importer is an individual foreign national: copies of Passport, Work Permit or Residence Confirmation (issued by Immigration) If the importer is a juristic person: copies of Company Registration, VAT Registration (either Revenue No.20 or Revenue No.09), Trading Permit issued by Ministry of Commerce, Company Revenue Tax Card, Thai I.D. and Household Registration of authorized directors (Thai) or Passport and Work Permit (foreign national)

STAGE 3: Time frame 1 - 3 days if documents are provided complete.

STAGE 4: After the completion of Thai Customs formalities, the next step is Thai flag registration. STAGE 4: Documents required • • • • • • • •

Form 32 (Import license) Original copies of Customs Declaration Form Original receipt of VAT *Official paper issued by the relevant foreign authorities to delete the registration in that country (for used vessels only) *Copy of Vessel Registration or Builder's Certificate *Memorandum of Agreement or Bill of Sale *Invoice showing the price of the vessel (NOTE: items marked * above must be translated into Thai by a certified translation agency) Thai vessel name Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]







If the importer is an individual Thai national: copies of Thai National Identity Card, Household Registration Papers, letter of authorization to agent to act on owner's behalf o (NOTE: a Thai national can use a boat registered in his or her individual name for commercial purposes) If the importer is an individual foreign national: original and copies of Passport, Work Permit or Residence Permit issued by Thai Immigration, letter of authorization to agent to act on owner's behalf o (NOTE: a foreign national CANNOT use a boat registered in his or her name for commercial purposes) If the importer is a juristic person: copies of Company Registration, VAT Registration (either Revenue No.20 or Revenue No.09), Trading Permit issued by Ministry of Commerce, Company Revenue Tax Card, Thai I.D. and Household Registration of authorized directors (Thai) or Passport and Work Permit (foreign national), letter of authorization to agent to act on owner's behalf, Memorandum and Articles of Association of the Company, list of shareholders (at least 70% of the shares must belong to Thais and the board of directors must have more that 50% Thais) o (NOTE: owners/importers with a company registered in Thailand can use a boat registered in the company's name for commercial purposes)

STAGE 4: Time frame After having received all documents complete, the Harbor Department will issue an official number to be clearly displayed on the left and right sides of the hull. Photographs of the vessel with the official Harbor Department number (2 photographs each on the left, on the right and the front) must be submitted to the Harbor Department who will then make a final detailed inspection and issue official registration papers and a permit to operate the vessel in Thai waters. If all documentation is correct, it will take 3 - 5 days.

Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]

Transferring Registration of a Thai registered boat This is simply the last step in the importation process. It can be broken down as follows: Documents required • •

• •







Original vessel registration book *Sales and purchase agreement or Bill of Sale o (NOTE: items marked * above must be translated into Thai by a certified translation agency) Thai vessel name If the Buyer is an individual Thai National 2 signed copies of the following: o Thai National Identity Card o Household Registration Papers o Letter of authorization to agent to act on owner's behalf o Harbor Department Power of Attorney  (NOTE: a Thai national can use a boat registered in his or her individual name for commercial purposes) If the Seller is an individual Thai National 2 signed copies of the following: o Thai National Identity Card o Household Registration Papers o Letter of authorization to agent to act on owner's behalf o Harbor Department Power of Attorney  (NOTE: a Thai national can use a boat registered in his or her individual name for commercial purposes) If the Buyer is an individual foreign national 2 signed copies of the following: o original and 2 signed copies of Passport o Work Permit or Residence Permit issued by Thai Immigration o Letter of authorization to agent to act on owner's behalf o Harbor Department Power of Attorney  (NOTE: a foreign national CANNOT use a boat registered in his or her name for commercial purposes) If the Seller is an individual foreign national 2 signed copies of the following: o Original Passport and 2 signed copies of Passport o Work Permit or Residence Permit issued by Thai Immigration o Letter of authorization to agent to act on owner's behalf o Harbor Department Power of Attorney  (NOTE: a foreign national CANNOT use a boat registered in his or her name for commercial purposes) Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]





If the Buyer is a juristic person, 2 signed copies of the following: o Company Registration o VAT Registration (either Revenue No.20 or Revenue No.09) o Trading Permit issued by Ministry of Commerce o Company Revenue Tax Card o Thai I.D. and Household Registration of authorized directors (Thai) or Passport and Work Permit (foreign national) o Letter of authorization to agent to act on owner's behalf o Memorandum and Articles of Association of the Company o List of shareholders (at least 70% of the shares must belong to Thais and the board of directors must have more that 50% Thais) o Harbor Department Power of Attorney  (NOTE: owners/importers with a company registered in Thailand can use a boat registered in the company's name for commercial purposes) If the Seller is a juristic person, 2 signed copies of the following: o Company Registration o VAT Registration (either Revenue No.20 or Revenue No.09) o Trading Permit issued by Ministry of Commerce o Company Revenue Tax Card o Thai I.D. and Household Registration of authorized directors (Thai) or Passport and Work Permit (foreign national) o Letter of authorization to agent to act on owner's behalf o Memorandum and Articles of Association of the Company o List of shareholders (at least 70% of the shares must belong to Thais and the board of directors must have more that 50% Thais) o Harbor Department Power of Attorney  (NOTE: owners/importers with a company registered in Thailand can use a boat registered in the company's name for commercial purposes)

Time frame After having received all documents complete, the Harbor Department will issue an official number to be clearly displayed on the left and right sides of the hull. Photographs of the vessel with the official Harbor Department number (2 photographs each on the left, on the right and the front) must be submitted to the Harbor Department who will then make a final detailed inspection and issue official registration papers and a permit to operate the vessel in Thai waters. If all documentation is correct, it will take 3 - 5 days.

Gulf Charters Thailand Co., Ltd Located at Ocean Marina 167/5 Moo4 Sukhumvit Hwy (Km 157) Sattahip Chonburi 20250, Thailand tel: +66 (0) 38 237752 email: [email protected]