In a welcome move the Government of New Zealand has announced that the temporary importation entry period (TIE) for yachts visiting their country will be extended from 12 to 24 months.
The announcement was made on the 11th December by Customs Minister Hon. Maurice Williamson and is expected to be well-received by the world’s sailing and cruising fraternity and regions throughout New Zealand which stand to gain an economic boost from the additional numbers of visiting yachts that the rule change is hoped to bring.
All goods coming into New Zealand, including yachts, are normally subject to duty and GST. Visiting yachts are granted a temporary import entry to exempt owners from paying these charges if they aren’t used commercially or sold, and depart the country within the time period.
Peter Busfield, executive director of the New Zealand Marine Industry Association (NZ Marine), says: "The extended temporary import entry period is one of the key regulatory changes NZ Marine has been seeking as we aim to double the export earnings of our industry over the next six years."
"The 24 month TIE 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."
Busfield says the extended TIE period will assist the New Zealand marine industry greatly with the goal of doubling visiting superyacht numbers over next three years and increase the number of visiting under 25 metre yachts by up to 25 per cent.
Busfield adds: "The gain to New Zealand’s economy goes well past the marine sector with superyacht owners and guests taking their custom to New Zealand’s best golf courses, wineries, accommodation venues, tourist attractions and artists; some of these high net worth individuals also choose to invest in local business opportunities.
"In particular, we can expect to see significant benefits for the Far North, Whangarei and Auckland regions as the majority of yachts arriving in New Zealand make port in these centres. There will also be opportunities for Bay of Plenty and Marlborough to host more visiting yachts than they do presently."
To qualify for temporary importation the following crtieria must be met:
Full details of the customs and importation procedure for visiting yachts can be downloaded here:
New Zealand - Customs Fact Sheet Yachts
For further information please do not hesitate to contact us here at Oceanskies.
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