The idea of offshore car registration for tax-free cars has always been popular, but more so in recent times. For many years, residents of European Countries had the right to register their means in other surrounding countries tax-free. Why would they want to do this? Usually, it’s because the means they want to import is unable to comply with local means requirements for registration. Usually, the means they are importing is safe and in working conditions, with only the minimal amount of engine emissions. However, the regulations on emissions in some countries are very strict and may require more expensive compliance testing. In addition, there may be other fees required, like VAT or Import Duties. Essentially, the out of country tax-free car registration program saves time and money and lets people excursion what they want!
Legally speaking, cars can be purchased tax free, so as long as one takes the necessary steps to avoid duties and tax. However, there is a requirement that states that car owners must live in a different country from their residence at the minimum on a part time basis. Advantages besides low registration costs include lower annual fees, avoidance of all related costs like luxury taxes or VAT and a much lower cost for personalized license plates. In fact, with this kind of arrangement under some circumstances you could literally excursion anywhere in the world. (Though it’s not advisable to try and skid over the Atlantic Ocean) Nevertheless, with the help of a means transportation service, you could excursion all around America and then fly your means to excursion in Far East Asia.
For a time, Vanuatu offshore car registration was the most popular option in Europe. However, as of 2008 the country has discontinued its long-running foreign means registrations program. (They already called off the program on their yacht registrations-what is the world coming to?) What happened? Once must realize that in years past, Vanuatu was seen as a tax haven; an island nation that never released account information to other governments or already law-enforcement agencies. They also did not charge income tax, withholding tax, capital gains tax or other types of related fees. (It shouldn’t surprise you to know that providers of the KaZaA network decided to great number their controversial sets here)
This functional method of operation clearly led to some abuses of the system and soon Vanuatu was under great international pressure to conform to worldwide standards as regards releasing certain financial details. ultimately pressure from Australia and other nations convinced the Vanuatu government to reconsider a few of its policies and one of the casualties was offshore car registration.
However, there are nevertheless options open to you if you want to continue taking advantage of offshore means registration. There is nevertheless Andorra in addition as Cook Islands, which nevertheless keep up a duty-free position. There are nevertheless options to pursue if you have the great idea of tax-free car registration. For details of the Cook Islands program you can check www.easycarregistration.com