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Manx Aircraft Registry Leading The Pack

by Jason Gorringe, Tax-News.com, London

24 August 2012


The findings of a new survey, conducted by aviation publication 'Corporate Jet Investor', which sought the views of leading aviation lawyers globally, recognises the Isle of Man as offering the world's most attractive registry for non-commercial aircraft.

Votes were cast in four categories: speed of service; customer service; value for money; and innovation. The Isle of Man Aircraft Registry appeared as one of the top three registries in all categories, coming out on top for speed of service and innovation.

The general consensus among the lawyers was that the Registry is the most user-friendly and ideal for aircraft not intended to operate commercially. This is the first ever survey to find out the views of leading business jet lawyers towards the various aircraft registries around the world.

Established in 2007, 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.

In addition, in May 2012, the Isle of Man government announced that it would not follow the UK government's decision to begin taxing small business aircraft under the Air Passenger Duty (APD) regime. From April 1, 2013, the United Kingdom is to extend Air Passenger Duty to business jets, at a rate of GBP13 per fare. Presently, the Isle of Man government has confirmed 19-seat aircraft will not be subject to APD, but that the Treasury is considering whether extending APD to other business jet sizes would impact the island's economic opportunities and the growth of the Isle of Man Aircraft Registry.

The Isle of Man Aircraft Registry has witnessed substantial demand since it was launched in May 2007 and there are now over 500 aircraft on the register, making it the fastest growing offshore register in the world. Its client base is global and the success of the Registry means that the Isle of Man is now home to a world-class group of companies who offer support services for owners and operators of corporate and private jets.

Welcoming the positive endorsement from industry professionals, the Isle of Man's Director of Civil Aviation, Hartley Elder, commented:

"This is a tremendous accolade that once again highlights the excellence and hard work shown by all the team in the Aircraft Registry and our surveyors around the world. It is particularly pleasing that this recognition has come from one of the leading aviation titles via a survey of global aviation lawyers. We strive to offer the highest levels of customer service and this recognition from the industry also highlights the excellence of our local aviation businesses."

Alex Andrews of Corporate Jet Investor said:

"The idea of the survey was to discover what aviation lawyers really think about the aircraft registries they deal with on a daily basis. The success of the Isle of Man in our survey reflects two things: the strength and customer service of the registry itself and also how good the Isle of Man’s service companies are. To accomplish this in just five years is a remarkable achievement."

The Isle of Man’s political Member with responsibility for the Aircraft Registry, Alex Downie, added:

"This is great news for the Registry, the local aviation services industry and for the Isle of Man as it reinforces the high status that the island now enjoys within the aviation industry. To have become such a major global player in such a short space of time is testament to the strong relationships between the Registry and the aviation industry. The Isle of Man’s aircraft register is clearly the outstanding choice for corporate and private jet registration."

TAGS: Isle of Man | tax | small business | business | law | aviation | insurance | United Kingdom | offshore | standards | services

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