Update: Additional 25% import duty on US Superyachts

As you may be aware a 25% additional import duty has now been levied on goods entering the European Union from the USA.

This tariff will apply to both commercial and pleasure superyachts that have been built in the US and intend to cruise European waters in the summer months. Regardless of whether or not the yacht was in EU waters last year, the tariff may also apply once the yacht re-enters EU waters this year and may be payable upon demand.

Whilst there has been some confusion within the industry on this new tariff, we are pleased to confirm this will not affect our superyacht clients that currently operate under Temporary Importation/Temporary Admission status.

All we can advise for the following months is to be vigilant when re-entering the EU if your yacht is US built or has been purchased from a US supplier and will be entering the EU for the first time since June 2018. 

Should you require further assistance and clarification then please do Contact the Dominion team who are always happy to assist.