Story by Andrew Holland / June 1, 2018
Occasionally we handle transactions where either a buyer or seller require a closing to occur outside of the area where the boat is currently lying. This is what we call an “offshore closing”.
The main reason that either party would request an offshore closing most often directly coincides with potential taxation or duty ramifications on the sale of the boat in it’s given location. To avoid these potential costs, the buyer and seller may agree to perform a legal offshore closing on the sale of the boat.
An offshore closing can be defined as when a boat is sailed into international waters on the agreed day of closing – the required distance offshore for closing will depend on the boats location – and finalization of the closing documents is done directly on the boat once you are in international waters. Photos are taken of the GPS coordinates and signing of the required documents, along with a photos of the signer with a copy of the days newspaper to provide photographic evidence of the time and location of the finalization of the closing documents.
Offshore closings are most often seen in states like Florida, California and in various countries in Europe.
While an offshore closing does require logistical consideration that can potentially complicate the closing process, it does present potentially advantageous legal methods to avoid tax and duty on the purchase or sale of a vessel depending on the details of the transaction.
The procedure and requirements for an offshore closing will depend on the boats current location and where she intends to re-enter the country after the closing, so if you intend to proceed with an offshore closing it is important to consult with professionals to discuss the legal requirements that must be followed.
For questions, feel free to contact the Multihull Company offices at 215-508-2704.
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Helped me through the process.
I would go through them again in a future purchase.
The Multihull Company made the process of buying our boat easy and predictable. Both our agent (Francisco Montaner) and Andrew Holland communicated well and educated/informed us of each step in the process. I highly recommend The Multihull Company for those shopping for a catamaran!
Chuck at The Multihull Company is the real deal.
He helped us find our Lagoon 40 after genuinely listening to what we needed, not just what he had to sell. He let us visit the boat multiple times, answered every question honestly, and helped us make a confident decision on a major purchase.
What impressed us most was the post-sale support. Once the paperwork was signed, Chuck was still picking up the phone, offering referrals, and helping us work through the early stages of liveaboard life. That kind of follow-through is rare.
If you are looking for a multihull and want someone who knows the boats and actually cares about the outcome, Chuck is the person to call.
We just purchased a 2025 Nautitech 44 Open with The Multihull Company. The process of getting here has been great, and we could not have asked for a better agent. We worked with Conor, whom we met at the 2025 Cannes Boat Show. We started our search for a cruising catamaran in Florida at the beginning of the year. We spent a couple of months looking at different boats/models within our price range and quickly narrowed it down to what really mattered to us, in part thanks to the wealth of knowledge and expertise our broker provided. When we found a perfect match in Montenegro, Conor and The Multihull Company did not hesitate to continue supporting us and to lead the efforts from start to finish with great care and transparency. Communication and support have been outstanding throughout this entire process. Conor, in particular, showed great compassion and care, going above and beyond to ensure that no stone was left unturned and that we would be able to safely and happily sail off into our big adventure.
A sale well handled. No inflated expectations and an honest opinion throughout. Highly recommended.
Successful relationships cannot exist without it. At The Multihull Company we base every relationship on a firm commitment to earning and retaining our client’s trust.
Advice of any kind is valuable only when grounded in hard-won expertise. It too, must be trustworthy. Trust and expertise define the heart and soul of The Multihull Company. We are a team of skilled professionals who thrive on providing expert, trustworthy advice and service to catamaran and trimaran sailors around the globe.
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