Introduction
Dixcart Air Marine specialises in assisting clients with the registration, and ongoing management of various assets, including aircraft, ships, and yachts.
With a global network of experienced professionals, Dixcart provides tailored services to meet the unique needs of professionals and their clients.
Aircraft registration is a complex topic, and this guide aims to explore the advantages of aircraft registration in the following jurisdictions: Cyprus, Guernsey, Isle of Man, Madeira (Portugal), and Malta. For additional information, please contact us to be put in touch with an expert: advice@dixcart.com
Aircraft Registration Services Provided by Dixcart Air Marine
From assistance with importation to registration and corporate structuring, we provide expert assistance every step of the way.
With extensive experience in providing support for the importation of aircraft into the EU, Dixcart handle all preparation work and customs clearance procedures, ensuring a streamlined process.
When it comes to registration, we understand the importance of choosing the right jurisdiction based on the aircraft’s usage and location.
Dixcart can establish the appropriate ownership structure, guiding clients through the intricacies of registration with precision and efficiency. Additionally, our corporate structuring services cover accounting, secretarial tasks, VAT, and tax advice, providing professional advisers and clients with a commercial approach to managing aircraft assets.
Choosing the Right Jurisdiction
Dixcart offers expert advice in selecting the most tax-efficient ownership structure and jurisdiction for aircraft registration. With extensive experience and offices in key jurisdictions; including Cyprus, Guernsey, Isle of Man, Malta, and Portugal.
Dixcart ensures efficient coordination of the registration process. Our knowledgeable team provides insights into the regulatory frameworks, tax incentives, and operational considerations, enabling clients to make informed decisions, aligned with their objectives.
Advantages of Aircraft Registration in Cyprus
Cyprus offers a favourable regulatory environment and tax incentives for aircraft registration. With competitive fees and an efficient registration process, Cyprus is an attractive choice for aircraft owners seeking reliability and cost-effectiveness.
Additionally, Cyprus’ strategic location provides easy access to European and international markets, enhancing the aircraft’s operational flexibility.
The Private Aircraft Leasing Guidelines provide that Cyprus VAT will only be applied on a percentage of the lease consideration. The applicable percentages have been determined by the Tax Department and depend on the, length, type of aircraft, and an indication of the presumed time of use of the aircraft in EU air space. There is therefore, no need to maintain a detailed record or log books of the movements of the aircraft, for VAT purposes.
To benefit from the Cyprus Private Aircraft Leasing Guidelines, the private aircraft can be registered under any Aircraft register in the world and not necessarily under the Cyprus Aircraft Register. Certain conditions must be met, and the prior approval of the Cypriot Tax Commissioner needs to be obtained in each case.
If you would like further information regarding Aircraft Registration in Cyprus, please contact advice.cyprus@dixcart.com
Advantages of Aircraft Registration in Guernsey
Guernsey’s reputable regulatory framework and tax-efficient environment make it an ideal jurisdiction for aircraft registration. As a member of the Red Ensign Group, Guernsey adheres to high standards of safety and professionalism in aviation. With streamlined administrative procedures and access to a wide range of aviation-related services, Guernsey offers stability and efficiency for aircraft owners.
Guernsey’s Channel Islands Aircraft Registry, ‘2-REG,’ offers simplified registration with a neutral ‘2-‘ nationality mark. Registration is available out of sequence; the 2- followed by a four-letter combination, allows for significant personalisation and branding opportunities.
2-REG accepts transfers from various registers, improving flexibility and with a secure mortgage registration system and global inspector network, it offers convenience and security.
If you would like further information regarding Aircraft Registration in Guernsey, please contact advice.guernsey@dixcart.com
Advantages of Aircraft Registration in Isle of Man
The Isle of Man offers advantageous VAT arrangements and tax benefits for aircraft owners. With a robust regulatory framework and simplified customs procedures, the Isle of Man provides flexibility and efficiency for aircraft registration. In addition, the Isle of Man’s status as a crown dependency of the United Kingdom, ensures adherence to international standards and conventions, instilling confidence in aircraft owners and operators.
With over 1,000 registered aircraft, the Isle of Man Registry ranks as Europe’s second-largest private business jet register and sixth largest globally. It offers a neutral “M” registration prefix and upholds high regulatory standards.
Operating on a commercial yet cost-effective basis, the Isle of Man boasts; zero corporation tax, no insurance premium tax and VAT alignment with the UK. In addition, no capital gains taxes, no capital transfer tax, and no general withholding taxes are payable in the Isle of Man. A final benefit is that no insurance premium tax is payable.
If you would like further information regarding Aircraft Registration in the Isle of Man, please contact advice.iom@dixcart.com
Advantages of Aircraft Registration in Madeira (Portugal)
Madeira, as part of Portugal, provides a credible option for aircraft registration with EU compliance and tax advantages. Madeira presents a compelling option for aircraft registration, leveraging the advantages of INAC’s (the regulatory authority for civil aviation in Portugal), streamlined processes and low registration charges.
Portugal’s registry requires no nationality stipulations for owners, with a rapid 10-day registration turnaround. In addition, Portugal has pioneered fractional aircraft ownership registration and INAC officers are experienced in this field.
INAC is a secure mortgage register – due to its international reputation and safety standards it is on the banks and financial institutions whitelist of aircraft registries.
Air operators that meet certain conditions and with a valid AOC granted by INAC, are entitled to deduct the VAT on the, fuel supply, maintenance, lease, transfer, and repairs to the aircraft. They are also entitled to deduct VAT on the; acquisition, maintenance, repair, and transfer of equipment incorporated into the aircraft or used in its exploitation. This is provided that 50% of the aircraft’s flights are international.
If you would like further information regarding Aircraft Registration in Portugal, please contact advice.portugal@dixcart.com
Advantages of Aircraft Registration in Malta
Malta boasts a reputable aviation registry and extensive tax incentives for aircraft owners. With adherence to international conventions– most notably the Cape Town Convention and Protocol, Malta offers reliability and regulatory compliance for aircraft registration. Additionally, Malta’s comprehensive legal framework and experienced professionals facilitate smooth transactions for aircraft owners, minimising administrative burdens and maximising operational efficiency.
Malta’s location makes it logistically easy to provide access to European and African markets. Malta’s weather conditions also make it the prefect jurisdiction to test aircrafts and train pilots. It offers a wide spectrum of services in this sector such as; aircraft repair and overhaul, management, leasing, maintenance, and training, amongst others.
Aviation professionals can benefit from specifically designed expat tax status, and the taxation of aircraft structures in Malta offers advantageous frameworks, both for commercial and for private registrations.
The Double Tier Tax Structure allows tax free holding of funds and reinvestment of retained earnings through a Malta Holding Company and no withholding tax applies on the distribution of dividends.
In addition, Malta allows for registration of an aircraft under construction, if it is uniquely identifiable.
If you would like further information regarding Aircraft Registration in Malta, please contact advice.malta@dixcart.com
Conclusion and Dixcart Contact Details
Dixcart Air Marine offers comprehensive services to assist aircraft owners in selecting the optimal jurisdiction for registration dependant on their circumstances. Whether in Cyprus, Guernsey, Isle of Man, Malta, or Madeira (Portugal), Dixcart ensures efficient coordination of the registration process, and optimises the benefits available in the circumstances.
With expert guidance and practical solutions, Dixcart helps aircraft owners achieve their objectives efficiently and effectively in an ever-evolving global aviation landscape.
If you would like further information regarding Aircraft Registration, and aren’t sure on a specific jurisdiction, please contact advice@dixart.com for further assistance.
