Buying a Yacht in Miami: Practical Steps for Non-Residents
Alexandra
Miami transaction mechanics: tax caps, offshore closings, and 90‑day decals
Miami’s brokerage market commonly uses three practical mechanisms to avoid Florida sales tax on purchases: the Fly‑Away Exemption (immediate export), the Sojourner’s Permit (90‑day decal, extendable once), and the Offshore Closing (transfer of title and funds in international waters, typically 3 nautical miles offshore). The headline Florida sales tax rate is 6% (plus county surtax) and the state share is capped at $18,000, making structuring decisions central to whether a transaction is attractive for international buyers.
How non‑residents legally avoid Florida sales tax
Three legal pathways dominate for non‑resident buyers:
Option A: Fly‑Away Exemption (Pure Export)
- Timeline: Vessel must leave Florida waters within 10 days of purchase (20 days allowed after repairs).
- Documentation: Fuel receipts, dockage logs and port clearances prove removal.
Option B: Sojourner’s Permit (90‑Day Decal)
- Usage: Non‑residents can keep the vessel in Florida tax‑free for up to 90 days; one 90‑day extension is permitted for a total of 180 days.
- Risk: Staying past day 180 triggers retroactive use tax plus penalties.
Option C: Offshore Closing
- Process: Title transfer and wire release executed in federal/international waters (usually ≥3 nm), with a notary and the captain present.
- Result: Vessel returns to Miami as a foreign‑owned asset and is not subject to Florida sales jurisdiction for that sale.
Quick reference: tax avoidance options
| Option | Key Requirement | Typical Timeline |
|---|---|---|
| Fly‑Away Exemption | Physical export proven by receipts/logs | 10 days (20 with repairs) |
| Sojourner’s Permit | Purchase decal and track time in state | 90 days (+ one 90‑day extension) |
| Offshore Closing | Signing & funds release ≥3 nm offshore | Single closing event |
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Flagging and registration strategy
Most international buyers avoid USCG documentation unless a U.S. citizen holds majority ownership under complex corporate structures. The preferred strategy is foreign flagging—commonly in Red Ensign jurisdictions (Cayman Islands, British Virgin Islands, Isle of Man) or the Marshall Islands. These registries offer:
- Resale value and market recognition.
- Privacy for beneficial owners.
- Speed to match closing timelines on high‑value inventory.
Why the Cruising License matters
A foreign‑flagged yacht requires a U.S. Cruising License from CBP to operate freely in U.S. waters for up to one year. The license removes the need to clear in at every port, but imposes two critical restrictions: the vessel cannot engage in trade (no charter for pay in U.S. waters) and it generally cannot be offered for sale to U.S. residents while present without import duty payment.
Navigating fast markets and pocket listings
The Miami used‑yacht market moves rapidly; high‑demand models often go under contract before public listings circulate. Brokers’ relationships yield access to pocket listings—off‑market opportunities from owners seeking privacy. International buyers benefit from brokers who can source vessels across oceans, including boats currently in the Mediterranean but available for quick USD transactions in Miami.
Banking, escrow and exchange logistics
Large international transfers must satisfy KYC and AML requirements. Best practices include:
- Use a dedicated escrow account or third‑party maritime attorney to hold deposits until contingencies are cleared.
- Work with foreign exchange specialists to lock rates when converting Euros or Pounds to USD, as timing can change the effective purchase price by thousands.
Insurance, hurricane planning and crewing
Insuring a vessel based in South Florida comes with hurricane‑season caveats: insurers may require movement out of the hurricane box or haul out and secure procedures during peak months. For crew, B1/B2 visas are common, and Miami staffing agencies specialize in bilingual, rotational crews experienced in international owner requirements.
Practical FAQs for international buyers
Can I keep a foreign‑flagged yacht in Miami year‑round?
Yes, with management of import status. A Cruising License allows up to one year in U.S. waters; after that, a foreign port visit (e.g., Bimini) for at least 15 days is required before reissuance unless formal import and duty (~1.5%) have been settled.
Is remote purchase safe?
Video walkthroughs plus a trusted local surveyor for hull and engine inspection are standard; final sea trials remain recommended before closing.
Can I finance without U.S. credit?
Yes—specialized marine lenders provide asset‑based loans accepting foreign liquidity, typically requiring higher deposits (35–40%).
How this affects charters, rentals and the leisure market
Structuring ownership, flagging and insurance influences whether a vessel can participate in charter markets, affect where it can be based for seasonal rentals, and determine which marinas and berthing agreements are feasible. For companies and private owners offering boat rentals, careful compliance ensures a vessel can transition between private use and charter programs in nearby jurisdictions with more permissive rules—beneficial for travelers seeking short‑term rentals and for owners aiming to offset expenses.
GetBoat always keeps an eye on news related to sailing and seaside vacations, as we truly understand what it means to enjoy great leisure and love the ocean. The service values freedom, energy, and the ability to choose your own course, placing no limits on a good life and allowing clients to find a vessel that suits their preferences, budget, and taste.
Start planning your next seaside adventure with a clear forecast: this buyer’s guidance is not a seismic global shift but a practical clarification of existing rules that shape where and how international buyers base, insure, and charter yachts. It will have modest impact on the global tourism map but remains essential for anyone buying or chartering in the Americas. Start planning your next seaside adventure and make sure to book the best boat and yacht rentals with GetBoat before the opportunity sails away!
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In summary: non‑resident yacht purchases in Miami require deliberate choices on tax strategy, flagging, cruising licenses, and post‑purchase logistics such as insurance and crew. Proper escrow and currency management protect buyers, while pocket listings and broker relationships deliver better access to inventory. Whether the goal is a private yacht, a charter program, or a seasonal rental, GetBoat.com supports this theme by offering a global, user‑friendly solution for booking or buying yachts, sailboats and boats with transparency and convenience—helping you find the right yacht, charter or sale opportunity and make the most of marinas, yachting activities, sea and ocean destinations, superyacht options, gulf cruising, clearwater bays, fishing trips and sunseeker models; add a phrase.
