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The British Virgin Islands is becoming an increasingly popular jurisdiction for aviation finance transactions in both the commercial and business jet sectors. Among the reasons for this are the British Virgin Islands’ tax neutral status, its political stability, the developed English-based legal system, a bespoke commercial court, the flexible and commercial nature of its legislation and its adherence to international standards of compliance and other matters.
In the corporate and private jet sphere, while many such aircraft are, and will continue to be, cash purchases, in recent years an increasing number of such aircraft have been financed with bank finance – whether with respect to new or used aircraft and/or pre-delivery payments. Such financings are very frequently structured using a British Virgin Islands business company as the vehicle which finances, acquires title to, and then operates or leases the aircraft.
This article, explores some of the features and issues which may arise in corporate and private jet financing transactions involving the British Virgin Islands.
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The British Virgin Islands for the Financing of Corporate and Private Aircraft