I spoke with Bahamas Customs this morning and was advised that the import duty on all boats is now 10% of the value of the boat regardless of size. This is a change from the previous rule of 27% duty on boats under 30 feet and 6% for boats for vessels 30 to 50 feet.

When you clear in to the Bahamas, the application for a cruising permit requires you state the value of your boat. If you have any plans for importing your vessel to the Bahamas, it would be wise to have available any documentation of the value of your boat. Bahamas Customs has a “Valuation Section” that will review your application for Bahamas vessel registration and will determine the fair market value of the vessel based on any documentation you may have and also what they think the value should be. In the end this could be an arbitrary ruling similar to what most states make on a used boat here in the United States.

Monty Lewis