Importing and exporting corporate aircraft is a complex addition to an already complex process.
Negotiated the purchase of one of the first Boeing Business Jets and Bombardier Global Express aircraft, and the first operational Eurocopter EC 155B VIP-configured helicopter delivered in the United States.
Represented the purchaser of a Gulfstream GV in connection with its purchase and import from the United Arab Emirates, and related financing.
Importing and Exporting
Importing and exporting corporate aircraft is a complex addition to an already complex process. An imported aircraft will require deregistration from any international government registry as well as evidence that it is free of liens and encumbrances not only of record with the foreign registry but of record with whatever local filing locations may be applicable.
In order for an aircraft to be able to operate after being U.S. registered, it will need to have a U.S. Certificate of Airworthiness, which can only be issued after it is U.S. registered (and therefore acquired). Similarly, a U.S. registered aircraft will need to be deregistered from the FAA registry for export. In both instances, it is also important that appropriate U.S. and foreign customs entries be made, and attention to value added tax liability be considered if the aircraft is located in a foreign jurisdiction at the time of acquisition.
Although there is typically no U.S. customs duty upon import of an aircraft into the U.S., significant penalties can apply if an appropriate entry is not made. A buyer or seller will also need to be on the lookout for doing transaction with persons on various government watch lists. A good aircraft purchase agreement will include provisions addressing these issues and the appropriate timing.
KEEPING YOU ON COURSE
We are experienced in working with tax, legal and financial advisors of companies of all sizes in addition to family offices, to implement appropriate operating structures and planning objectives. For first time business aircraft buyers, we can quickly assemble a team of experienced industry professionals and others to assist the client with business, technical and other aspects of an aircraft purchase and ongoing aircraft management under Parts 91 and/or 135 of the Federal Aviation Regulations.
THE RIGHT TEAM. THE RIGHT DEAL.
Using business aviation to run a company is not only smart, it means the organization is well managed.
- Stewart Lapayowker