The new rules have increased the TIE time for yachts from 12 months to 24 months. With superyachts increasingly opting to spend extended time in the South Pacific, in order to make the most of all the region has to offer, this move will allow them to spend more time in New Zealand, which is a key support country for Pacific cruising thanks to it’s premium refit and provisioning services amongst others. “This is a fantastic step forward as we have historically worked with so many yachts who certainly would have extended their stays to include extended cruising and maintenance periods, given the option, but moved on reluctantly,” said Mark Wightman, Managing Director of Integrated Marine Group. “The extra time the new TIE period offers really expands their options to make the best of all on offer, making makes New Zealand a more desirable destination choice than ever.”
Speaking to SuperyachtNews.com Allan Jouning of 37 South explained the benefits that this move will bring to both yachts and to the the local superyacht sector in New Zealand. “The increase in period for the TIE from 12 months to 24 months will enable large yachts to choose New Zealand as a base for two summers and offer charter dates both in NZ and the Pacific Islands. The yachts have the potential to charter one summer, refit during the winter and then charter for a second season without departing New Zealand waters” he said. “Having the yachts based in NZ will benefit our refit businesses and high end tourist industry. ”
The move is also particularly advantageous for yachts as it represents significant savings on GST and duty. All goods coming into New Zealand, including yachts, are usually subject to these levies, but the TIE exempts owners from paying these charges if the yachts aren’t being used commercially or sold, and they depart the country within the specified time period.
Peter Busfield, CEO of New Zealand Marine, is delighted with the support the government has offered their local marine industry with this move and says that the extended TIE period will assist the New Zealand marine industry greatly with their goal of doubling visiting superyacht numbers over next three years. “The gain to New Zealand’s economy goes well past the marine sector with superyacht owners and guests taking their custom to New Zealand’s best golf courses, wineries, accommodation venues, tourist attractions and artists; some of these high net worth individuals also choose to invest in local business opportunities,” said Busfield. “In particular, we can expect to see significant benefits for the Far North, Whangarei and Auckland regions as the majority of yachts arriving in New Zealand make port in these centres. There will also be opportunities for Bay of Plenty and Marlborough to host more visiting yachts than they do presently.”
Opua Marine in the Bay of Islands
The extension applies to yachts already in New Zealand and yachts who arrived in New Zealand after July 2013 can apply for an extension by emailing customs their yacht and temporary entry details.