Isle of Man Aircraft Ownership Structure
The Isle of Man has established itself as an important one-stop shop for global aviation business, particularly with regard to the registration of private and corporate jets.
The Isle of Man is a self-governing Crown Dependency located in the Irish Sea between Great Britain and Ireland which is not part of the United Kingdom but forms part of the British Isles.
Ronaldsway airport (ICAO: EGNS) is the principal airport of the Isle of Man and with a runway length of 4121 ft / 1256 m it is capable of handling all but the largest private and corporate aircraft.
The island’s geographical location makes it an ideal European aircraft importation point for aircraft entering Europe from the USA and Canada.
Although the Isle of Man holds neither membership nor associate membership of the European Union it is for fiscal purposes part of Europe for VAT and customs duty which means that aircraft can be fully imported into the EU upon arrival in the island.
The Isle of Man is also an established international finance centre, with a secure base built on political stability, low taxation and a firmly established fiscal and regulatory environment.
The Isle of Man aircraft registry was launched in May, 2007 and has helped drive this success with an approach based on its customer focus and its ‘safety with service’ ethos.
The safety standards that the register applies are on a par with the best of the world with the register accepting aircraft based on European (EASA), US (FAA) or Canadian (Transport Canada) certification standards.
In 2012 a survey of leading aviation lawyers from around the world, conducted by leading aviation publication ‘Corporate Jet Investor’, voted the Isle of Man Aircraft Registry the best aircraft registry in the world.
The combined benefits of the Isle of Man’s geographical position and fiscal status combined with its own aircraft register make the island a leading jurisdiction for the creation of aircraft ownership and operating structures for private and/or corporately operated business jets over 5,700 kgs MTOM or twin turbine helicopters requiring a cost effective and robust ownership and registration system enabling their aircraft to operate in free circulation for VAT and customs duty purposes within the EU.
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