The Royal Thai Government has announced that the temporary import allowance for yachts and super yachts has been extended from 6 + 6 months to 2 years and 6 months.
In a statement announcing the changes, the Thai Yachting Business Association (TYBA) said the extension of temporary importation of foreign yachts for up to 2.5 years will significantly benefit the industry and local economy.
TYBA Board member Peerawich Thoviriyavej commented: “This brings Thailand in line with regulations in neighboring countries and elsewhere in the world. To come from Europe or Australia takes many weeks, so yachts can now make the most of all that ‘Amazing Thailand’ has to offer. We look forward to working further with our APAC and ASEAN members to grow this outstanding cruising region for charter and pleasure yachting.”
The Thai Customs Department announced the new regulations on February 19, 2021 and it was later confirmed during a meting between the Minister of Finance, Mr Arkham Termpittayapaisith, also attended by a former Minister of Tourism and Sport, Mrs Kobkarn Wattanavrangkul and representatives from the TYBA.
New Customs Regulations for Superyachts
The Thai Government has also announced new customs regulations that will allow Superyachts with a Thai charter permit to operate in Thailand under clarified VAT and import arrangements.
Superyachts will pay VAT on all income they generate in Thailand during their temporary stay in Thai waters.
Study Supports Initiative
TYBA has completed a study to support this initiative, covering New Zealand, Australia, Fiji and the Maldives – all of which have opened up to Superyacht charter in recent times. It is well known how the Caribbean and areas of Europe have long benefited economically from Superyacht charter activity. So this new announcement from the Thai Customs Department will initiate significant growth to the Thai yachting industry and the general economy.
For more information, please contact the Thai Yachting Business Association
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Find out more at:
Noonsite: Thailand Formalities
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The opinions expressed in this article are the author’s own and do not reflect the view of Noonsite.com or World Cruising Club.
