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The British Virgin Islands is becoming an increasingly popular jurisdiction for aviation finance, not only in the private and corporate jet sectors, but also in the commercial aircraft sector.
Although commercial aircraft are generally not operated out of or registered in the British Virgin Islands, the British Virgin Islands is playing an important role in the structuring of international transactions to acquire, finance and lease aircraft.
i Registration of aircraft
The British Virgin Islands is an overseas territory of the United Kingdom. As such, the Register of Aircraft is governed by a UK statute, the Air Navigation (Overseas Territories) Order 2013 (ANOTO). Air Safety Support International, a wholly owned subsidiary company of the Civil Aviation Authority of the United Kingdom, acts as the oversight regulatory body for the Overseas Territories of the United Kingdom in relation to aviation matters.
Aircraft can be registered in the British Virgin Islands. There are currently only five aircraft registered in the British Virgin Islands, all in the names of locally registered corporations. Requirements for registration of aircraft are fully set out in the ANOTO. This includes who is considered to be a qualified person for registration.
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British Virgin Islands
This article was first published in The Aviation Law Review.