The Canada-European Trade Agreement (CETA) was signed on October 30th, 2016 and has entered into force as of September 21st, 2017.
Prior to the signing of this free trade agreement with Europe, all boats or yachts originating from Europe were imposed with a duty of 9.5%. Now, as of September 21st, 2017, this duty has been eliminated. It is now at zero.
This meaning that now all yachts from the Ferretti Group (Riva, Pershing, Ferretti) and any other brand manufactured in Europe whether new or used will enter into Canada with zero duty applicable.
An important fact to note is that imports have to be made directly from Europe to benefit from the new tariff at zero.
To make it simple, European manufactured boats are now exactly as boats manufactured in North America such as Searay, Marquis, Cruisers Yachts, Meridian, Fourwinns. No duty applicable when entering Canada directly from Europe.
Please do not hesitate to contact us with any questions on buying or selling, importing or exporting and trade logistics of boats from the United States, Europe or the Caribbean.
Office: 514-521-1221 or email us at email@example.com