The question was, can a non-US citizen on a US-documented vessel? Quick answer, no. The requirements are that you have to have a US-documented vessel. Now, by documented vessel, let me give you a quick background on that. In the United States, all vessels are documented through the US Coast Guard. The National Vessel Documentation Center is a division of Homeland Security. The requirement to obtain a US document is that if it's owned by an individual, he must be a US citizen. He cannot be a green card holder or legally in the country. Some of the weight is that if it's an LLC, which is what's known as a pass-through entity, all the members of the LLC must be US citizens. If it's a corporation, the corporation is owned by shares of stock. So, 75% of the stock in the corporation must be owned by US citizens. 25% can be foreign-owned. The president and the chairman of the board must both be US citizens. And importantly, no foreign person, group, shareholder, or anyone else can have the right to control the actions of the corporation. So, you can't do an under-the-table deal where your cousin who's a US citizen holds title for you, and then, in fact, you really own it and make the decisions and so forth. What happens if you do get caught doing that? You know, the boat can be forfeited to the US government. Haven't heard of a case where that actually happened that I can recall in the last 25 years. Probably has happened. And if it is a strategic market or a strategic vessel, so what do you do if you are a green card holder or foreign resident or citizen and you have a boat in the US? You get a...
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Cg 1340 rev 6 4 Form: What You Should Know
It follows that all sales, whether in the United States or overseas, may be recorded, whether the buyer or seller receives documentation. This form can be completed online for free or completed by hand.
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