UPDATE, DECEMBER 16, 2014: The government of New Zealand has revised regulations governing visiting yachts once again. This time, charter yachts benefit. They are now permitted to charter longer while in New Zealand waters, with charters comprising a maximum of 65 percent of their time there. This, as long as the yacht does not exceed the temporary import entry period of 24 months, referenced below. The owner of the yacht must also provide formal declaration to New Zealand Customs that the yacht will not exceed the 24-month period.
Read on for the original story regarding that import timeframe.
The temporary import entry period for the nearly three-dozen power and sailing superyachts that visit New Zealand each year is now doubled, to two years. The New Zealand government enacted the extension this week, retroactive to July.
The temporary import entry is a tax exemption granted to some yachts. All goods that are imported into New Zealand are typically subject to both duty and a value-added tax called GST. Yachts and megayachts are considered “goods,” unless they are used strictly for private cruises and depart within a specified time limit. No commerce, whether related to charter or brokerage sales, is permitted. Until the government’s announcement this week, the time limit for visits was one year. The new two-year temporary import entry period is therefore expected to bolster private megayacht visits. It should also pump more money into the country’s marinas, refit yards, and more.
The New Zealand Marine Industry Association (NZ Marine) is understandably pleased by the extension. It has been lobbying for a number of regulatory changes in recent years. “The 24-month TIE (temporary import entry) makes New Zealand as a destination for visiting superyachts and cruising craft much more appealing, especially for vessels based in the Mediterranean and the United States, which will now have greater flexibility to plan the long and exciting journey down under to enjoy New Zealand’s scenic highlights and highly regarded hospitality,” says Peter Busfield, NZ Marine’s executive director. He adds that NZ Marine intends to double the yachting industry’s export earnings within the next six years.
NZ Marine reports that of the 700 yachts visiting New Zealand each year, about 35 measure 82 feet (25 meters) and larger. Recently, they have included Athena (pictured, off Auckland), Ohana, Zefiro, Nahlin, Ethereal, and A. They often mix cruising with maintenance and/or refit work. Busfield believes the 24-month temporary import entry period will help double megayacht visits. Auckland, Whangarei, and the Far North district just north of Whangarei should particularly benefit. Naturally, that will also mean more money spent on non-marine leisure activity like golfing, winery visits, and overall tourism.
Megayacht owners interested in visiting New Zealand can download the “Destination New Zealand” e-book for free. Megayacht owners whose yachts are currently in New Zealand can apply for a temporary import entry extension. Contact the customs office, providing the yacht name and temporary entry details.
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