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This all is true. I also wonder how much of the yacht business is really about money laundering or tax-evasion. Like the art collecting world. If your company
by iguy 8y ago
This all is true.
I also wonder how much of the yacht business is really about money laundering or tax-evasion. Like the art collecting world. If your company buys the boat in one country, reflags it to Panama, sells it in Monaco the next tax year... I don't know any details but I'm sure there's substantial room here to massage what numbers you present to various tax collectors.
- ehnto 8y agoGiven how short the ownership tends to last (~9 months according to an anecdote in this thread), I suspect moving or protecting money is probably part of it somewhere. I also imagine a lot of it really is just wealthy people spending for fun rather than profit.
- iguy 8y agoHeh, my anecdote is famous already :) Indeed, it's pretty hard to tell. Both seem entirely plausible and I just have no way to guess how such buyers think.