CUSTOMS

Yachts and aircraft in free circulation within the European Union—meaning VAT has been duly paid or accounted for—must be placed under a temporary export procedure before leaving the EU customs territory. This allows them to benefit from relief from customs duties and VAT upon re-importation, in accordance with Article 203 of the Union Customs Code (UCC).

To qualify, the same legal or natural person must carry out both export and re-import. The asset’s identity, value, and essential characteristics must remain unchanged, and re-importation must occur within three years.

For example, a VAT-paid yacht departing Spain to the Caribbean must be declared under temporary export before leaving. Once completed, the vessel may operate freely outside the EU. Provided no substantial modifications occur and the yacht returns within the required timeframe, it may be re-imported without incurring additional VAT or customs duties, restoring its EU free circulation status.

This procedure requires accurate documentation and strict compliance to avoid tax exposure.

Our firm provides end-to-end support in managing temporary export and re-import procedures, including preparation, submission, and coordination with customs authorities across key jurisdictions such as Spain, France, Italy, Croatia, and Greece, ensuring full compliance and a smooth, risk-free process.