Do you know that US has the highest number of corporate jets registered in the world? However, what would you do if the US registration strategy doesn’t work well for you? Do you have other nations to help you with aircraft registration? If you are breaking your head with this question, the next few lines in this article will lend you a hand of help. Here is a quick walk through best jurisdictions for aircraft registration.
According to experts, offshore countries like Aruba, Cayman Islands, Bermuda and the Bahamas are amazing business locations for aircrafts. Many multi-national companies identify these offshore destinations as perfect for aircrafts.
If you are about to pick from the best jurisdictions for aircraft registration, here are few factors to lend you a hand of help.
The Best Jurisdictions for Aircraft Registration –The Easy Process
Most offshore destinations will let you register aircraft without local citizenship. The offshore registration articles will let you start a company in the country and operate an aircraft without any tacky requirements. However, some offshore jurisdictions expect you to fly the aircraft only in the prime country of registration. This is a restriction you must look for the offshore country you pick.
Make sure you are prepared to fly within the country or handpick a different offshore jurisdiction.
The Best Jurisdictions for Aircraft Registration – Need for Confidentiality
When it comes to confidentiality, nothing stands next to the best jurisdictions for aircraft registration. The aircraft and owner details would not be disclosed in any public records. Privacy and confidentiality are two selling points of offshore destinations.
On the other hand, security considerations must be made when you pick an offshore country. There are critical times with a lower profile flag would be required for stern political reasons.
The Best Jurisdictions for Aircraft Registration – Exquisite Tax Benefits
A lot of people search for the best jurisdictions for aircraft registration due to its tax benefits. The tax figures depend on your citizenship. Thus, if you are a foreigner, you will see many incredible tax advantages in offshore registration. The tax climate in exquisite offshore venues like Cayman Islands is 100% favourable. For example, you are not forced to pay any profit or income tax.
The Best Jurisdictions for Aircraft Registration – Liability Limits
Last but certainly not least, you should be aware of the liability issues in offshore destinations. Every country has a different collection of offshore rules. You should be aware of these rules for a safe and straightforward buy. Luckily, most offshore destinations offer liability counselling.
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