RESOURCES
Customs warehousing explained
Customs warehouses are physical or virtual locations authorised by customs authorities.
They are places where yachts and aircraft can be kept for unlimited periods with no import duties. This is while you decide which customs arrangement works best for you.
An example:
You wish to sell a foreign yacht or aircraft but don’t yet know the purchaser’s customs territory. In this instance, customs warehousing can delay the import duty until the transaction has been completed. This means that if you discover the asset will be exported, you can avoid import charges altogether.
EU and UK customs warehousing is therefore perfect for assets in transit. It can also be used for spare parts, equipment and accessories.
How Y & A Group, LP help
Customs Warehousing is subject to strict controls. As your dedicated yacht and aviation customs and VAT experts, we ensure you safely comply with all the rules.
