DO NOT FORGET THE IMPORTATION FORMALITIES WHEN YOU ARRIVE IN THE EU !
The fastest way to import a yacht under the VAT exemption based on the value and to also benefit from a VAT exemption on the purchases made within the scope of the commercial activity is to use the French commercial exemption procedure.
The main drawback under this procedure is the obligation to abide by the 70% rule (please note that the year 2020 is not taken into account as regards the 70% rule if such condition has not been met).
There is also the possibility to import the yacht through a VAT payment on the hull.
Please note that VAT paid yachts outside of the European Union will lose their status unless reimported in the EU within 3 years under the returned goods relief. This regime will need to be formalized through a customs declaration.
We remain at disposal to help you with these procedures.
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