Register brand new supercar

[alexwalter]

Hello,

I'm a resident in UAE and would like to register a brand new supercar that I will buy in Luxembourg and I heard about the MT plates, do anyone know if I'm eligible with a UAE resident card and a French passport ?

If anyone has suggestions or if you know someone that could help me out please let me know.

 

[Martin Everson]

Register the car where?

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[alexwalter]

Andorra was my first idea, but I'm open to suggestions

 

[Martin Everson]

Have you read the below threads?

https://www.offshorecorptalk.com/threads/best-countries-to-register-a-car-to.42806/post-276333
https://www.offshorecorptalk.com/threads/registering-a-supercar-in-europe-somewhere.36146/
If by MT you mean Malta then its the last place in Europe to register a supercar.

Just calculate what your registration tax would be below for yourself....then cry.

http://www.valuation.vehicleregistration.gov.mt/motorVehicle.aspx

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[alexwalter]

Thanks for the informations, MT stand for Matrícula Temporal actually, I read the FAQ that you gave me but do you know if it's legal to rent the car with tourist plates ?

 

[Martin Everson]

alexwalter said:
MT stand for Matrícula Temporal actually,
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Ok thx

alexwalter said:
do you know if it's legal to rent the car with tourist plates ?
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Do you mean rent out the car to others? Whats plates got to do with anything if your just renting a car. I am confused conf/(%

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[alexwalter]

Yes I mean rent the car to others, otherwise I could create a gibraltar company but I saw that if I wanna import the car to register it with a gibraltar company I will have to pay 35% of the car value is that correct ?

 

[Martin Everson]

alexwalter said:
if I wanna import the car to register it with a gibraltar company I will have to pay 35% of the car value is that correct ?
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Not entirely true.

You can import a SF90 hybrid with 5% duty or a fully electric Porsche Taycan Turbo S at 0% duty.

https://www.hmcustoms.gov.gi/portal/pdf/Valuations_FAQ.pdf
There has also been a cap on car import duty increased to £35,000 for 2023 year but I dont know if this applies to residents only

https://www.gfsb.gi/wp-content/uploads/2023/07/2023-07-11-Gibraltar-Budget-2023-highlights.pdf

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[alexwalter]

It would be a 35% for the one that I want .. I think that Andorra may be the best option

 

[dnowitski69]

You need to show a passport with a visa granting you stay for more than 6 months outside of EU. Also need to import the car thru French border and not Spanish. I've got 3 cars with MT plates, each over 200k eur. Been doing this setup since 2017

 

[alexwalter]

dnowitski69 thanks for the information, can you tell me here or by DM what's would be the procedure ? I got a UAE resident card and woud like to buy the car in Luxembourg

 

[dnowitski69]

You can hire a gestoria to do it for you but it will cost you around 2k last time I asked. I've imported all my cars myself though. Takes about 2-3 days. Do note no insurance in Andorra will give you full coverage on MT plates, just 3rd party. If you want to rent out your car, this might be an issue lol. I don't have a French passport so I can't tell you if it works for French citizens but it should in theory (I hold a passport from Western EU though). I've exported all my cars from Germany to Andorra. I guess Luxembourg would work as well. Just need to inquire with the dealer first if they are able to claim back VAT for you. The way it works is, you pay the full price with VAT at the dealer, import the car into Andorra and once you have the paper work done, you submit it to the dealer and they claim VAT back for you. My gestoria suggested I only buy cars from Germany because they're used to exporting and generally know how the process works. I usually go shopping on mobile.de and look for cars where VAT can be claimed back. The car has to be EURO5 or 6 I believe, cannot be older than 5 years. The rules change a little bit every year so better ask. The car has to go to ITV every year but it can be done in Spain or France. Renewal can be done remotely. You just need to give ACA (automobil club andorra) the power to do it for you. Costs 200eur for them to process everything and issue you new plates. They will also go to ITV with your Spanish or French ITV and get it registered in Andorra. Insurance is about 600eur/yr per car.

Just google "Andorra car import MT plates" and you should get at least 5-6 results.

 

[Wills]

The best places for register super car or expensive cars by my opionion are East contry. Bulgaria, Romania and etc. Will explain you why - nobody here ask you from where do you have money about buying this car. Secound is that the taxes here are the low apartr from other EU countries (for this moment). I do sometime this procedure when we have need, so can sent me PM if you need more explanation for personal your case.

 

[Freccione]

I've got multiple supercars registered to a company in the Czech republic and the whole process has been straightforward.
I work as a broker and have registered some private clients cars to the company also.
No road tax or any other annual running costs, except for insurance.


In your case, having bought the car new, you would have to buy the car VAT free in Luxembourg and pay VAT in your EU country of choice. The 6 months - 6000km rule applies everywhere within the block sadly.

 

[alexwalter]

Thanks for your answer, I'd be interested to register it in the Czech republic or any other East contry that make it easy, can you pm me so we can talk in pm ?

 

[Freccione]

alexwalter said:
Thanks for your answer, I'd be interested to register it in the Czech republic or any other East contry that make it easy, can you pm me so we can talk in pm ?
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Sure you can PM me and see if I can be of help.

 

[alexwalter]

I don't see how to PM you on this website, do you have any business email where i can contact you ?

 

[Marie Manila]

Freccione said:
The 6 months - 6000km rule applies everywhere within the block sadly.
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What is the 6000 km rule about?

 

[Freccione]

alexwalter said:
I don't see how to PM you on this website, do you have any business email where i can contact you ?
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Could you drop an email address here and I'll reach out to you.

Marie Manila said:
What is the 6000 km rule about?
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In the EU cars are considered used goods when they have crossed the 6000 km and 6 month (from first registration) threshold.
Should one of these not meet the criteria, it will be treated as a new vehicle, therefore VAT is due when exported to another union member state.

This complicates things for privates willing to export a new vehicle from Germany to France for example, as they'd have to claim the VAT back from the country of purchase.
This means that you would have to pay the VAT as a deposit until you can show the seller, that VAT has been paid in the country of export, which ties a lot of capital.
Also, most dealers aren't too keen on going through the hassle and buying from privates will be ruled out, as they generally will not be able to deduct VAT.

The other problem is that, if you fail to receive a 0% VAT invoice from the originating country, you'd pay VAT on top of the original VAT when importing the vehicle.

I'd like to add that I cannot wait for the day I get to leave the EU for good.

Last edited: Dec 16, 2023

 

[Alonzo]

Freccione said:
The other problem is that, if you fail to receive a 0% VAT invoice from the originating country, you'd pay VAT on top of the original VAT when importing the vehicle.
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Hmmm... Interesting
Is this common when buying through private dealers?