Odyssey Cruise Ship

[Neilds]

Not sure if people have been following this saga but seems to be a big cock up. Basically, it is a round the world cruise that people are able to buy cabins/suites for life and live on the ship. A balcony cabin has been quoted as costing around £300k, and then there is a £7-8k monthly fee for food, laundry, entertainment etc. The cabins can be sold, left in wills, etc just like owning a house. The ship was due to leave Belfast on 30 May on it's maiden voyage (in this format) but had to undergo repairs to its rudders and gearbox. Passengers had checked in and were on board, many had sold their homes for a complete change of lifestyle.
The repairs took until last month, there was a further delay of a couple of days because Harland and Wolff (where the ship was docked) went bust and there were insurance issues with the passengers boarding and the ship finally sailed last night, 30 Sep.
The ship only made it as far as the middle of Belfast Lough where it now has to return to the docks so some paperwork can be completed correctly. You couldn't make it up!

 

[HomerJSimpson]

One couple met on board in Belfast and got engaged https://news.sky.com/story/northern...whirlwind-belfast-romance-for-months-13221516

 

[D-S]

There’s one ship (called the World?) that does this, we saw it when we were in Cadiz. It’s a tax dodge isn’t it?

 

[Neilds]

There’s one ship (called the World?) that does this, we saw it when we were in Cadiz. It’s a tax dodge isn’t it?

How is it a tax dodge?

 

[D-S]

How is it a tax dodge?

You are not domiciled in any country as you are ‘stateless’ so you do not pay income tax.

 

[jim8flog]

There’s one ship (called the World?) that does this, we saw it when we were in Cadiz. It’s a tax dodge isn’t it?

more of a 'high cost of energy dodge'

There is the story of one woman who lives on cruise ships because she reckons it works out cheaper than owning a house.

 

[jim8flog]

You are not domiciled in any country as you are ‘stateless’ so you do not pay income tax.

As they are not working how would they be liable for income tax in the first instance.

I would have thought they would have to be domicile somewhere to have a passport. Without one how are they going to get off the ship in the countries they visit.

 

[Neilds]

I agree with @jim8flog . You will still need a passport if you want to leave the ship and, apart from pension/savings you won't have an income so very little tax to pay. And spending over £7k a month to avoid a bit of tax seems a bit daft to me

 

[harpo_72]

I don’t like cruise ships , but I can’t imagine this would be a good time of year to go across to the US in a ship that’s got rudder and gbx issues …

 

[Neilds]

I don’t like cruise ships , but I can’t imagine this would be a good time of year to go across to the US in a ship that’s got rudder and gbx issues …

You would hope after 4-5 months they had well and truly fixed the problem

 

[D-S]

I agree with @jim8flog . You will still need a passport if you want to leave the ship and, apart from pension/savings you won't have an income so very little tax to pay. And spending over £7k a month to avoid a bit of tax seems a bit daft to me

I guess if you can afford the cost you might have a lot of tax to avoid. Without being a tax expert. I believe you can have a passport but you don’t need to be domiciled in that country for tax purposes.

 

[Lord Tyrion]

As they are not working how would they be liable for income tax in the first instance.

I would have thought they would have to be domicile somewhere to have a passport. Without one how are they going to get off the ship in the countries they visit.

I agree with @jim8flog . You will still need a passport if you want to leave the ship and, apart from pension/savings you won't have an income so very little tax to pay. And spending over £7k a month to avoid a bit of tax seems a bit daft to me

If you are rich enough to be able to afford to go on one of these then I suspect you will have a fairly tasty income from investments, savings, personal pension and so on. If you are over the threshold, highly likely, then you would pay tax on it. Some countries also have a wealth tax, you pay tax on your total wealth over a certain amount. I don't think you are talking about people with regular incomes on these.