Usually small, they have a trust company buy the yacht. As a company, it benefits from various advantages/cuts and can be located in the most optimal country. Then the company rents the yacht at cost to the rich person so that the company does not declare profits, the rich person does not own the expensive yacht themselves and they can even deduce the rents from their declared fortune.
I wonder what the sales tax on that yacht was
Usually small, they have a trust company buy the yacht. As a company, it benefits from various advantages/cuts and can be located in the most optimal country. Then the company rents the yacht at cost to the rich person so that the company does not declare profits, the rich person does not own the expensive yacht themselves and they can even deduce the rents from their declared fortune.