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If you happen to be in the market for a new boat, good news: accordnig to International Living, Panama is the place to go for some incredible savings. Apparently, boaters and sailors can save more than 15 percent when purchasing a boat, and 40 percent on marina fees if you keep your new buy docked in the country — which means it will basically be your new favorite vacation destination.
Buying a boat is pretty similar to buying a house - from the insurance survey to the loan process — but if you're doing this from a different country, you'll want to consolidate steps. Though it may seem strange and nerve-wracking to put a deposit on a vessel before actually flying out to see it, you shouldn't have any problems if you're working through a reputable broker. If you see anything wrong or don't like the way it handles when you finally do check it out, all you do is renegotiate the deal and get repairs or walk away. Plus, not only will keeping your new toy in Panama save you from paying US taxes, it also means you won't have to cruise far for your next Caribbean vacation.
Read more at International Living.