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IoM Aircraft Registry Marks 500th Jet Milestone

by Jason Gorringe, Tax-News.com, London

03 July 2012


The Isle of Man Aircraft Registry has announced the achievement of a significant milestone with the registration of its 500th aircraft since the Registry's inception on May 1, 2007.

The 500th aircraft registered was a Bombardier Global 5000, registration M-SEAS, which was delivered new from the factory in Montreal, Canada.

Minister for Economic Development, John Shimmin MHK, commented:

"I would like to congratulate Hartley Elder and all the team at the Registry on this achievement. The tremendous success of the register is testament to their hard work, high levels of customer service and to the strong relationships they have built with the aviation services industry in the Isle of Man, who in turn have performed a magnificent job in developing this sector."

"The business-friendly approach offered by the Registry and industry typifies the advantages of the Isle of Man as an International Business Centre and has helped establish the island as a one stop shop for aviation services."

The Isle of Man's Aircraft Registry specializes exclusively in the registration of private- and corporate-owned business jets and high quality twin turbine-engine helicopters. Isle of Man-registered aircraft cannot be used for commercial air transport.

As the only dedicated corporate aircraft register in Europe, the Manx Registry offers high international standards and a competitive scheme of charges, among other benefits including: high regulatory standards, combined with the registry's quality international reputation; professional infrastructure with experience in aviation finance; a neutral nationality registration prefix; a secure mortgage register; a benign, politically-stable tax regime, featuring no insurance premium tax (6% in the United Kingdom); and, operation under a European time zone.

Welcoming the rapid growth of the registry, the island's Political Member with responsibility for the Aircraft Registry, Alex Downie observed: "I never thought the Aircraft Registry would develop as fast as it has so I would like to pass on my warmest congratulations to all the Aircraft Registry staff on reaching this magnificent milestone. Here’s to the next 500!”

TAGS: Isle of Man | tax | business | company formation | aviation | international financial centres (IFC) | United Kingdom | offshore company formation | offshore

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