Aviation

On 1st May 2010 the Isle of Man Aircraft Registry celebrated its third anniversary. In that time over 240 aircraft including corporate jets from all the world's business jet manufacturers and the airliner variants from Airbus and Boeing, have been registered. In the last 12 months 119 new aircraft have been added to the register and the register's successful growth continues unabated.

The Isle of Man Aircraft Registry was established to provide a customer focused service for the registration of high quality private and corporate 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 Registry offers high international standards and a competitive scheme of charges. The Registry has thirteen authorised Airworthiness Surveyors including a Surveyor resident in the USA.

We are able to provide a full service to individuals and corporations that wish to register aircraft on the Isle of Man register.

Some of the key facts in respect of the Isle of Man and the Island's Aircraft Register are set out below:

  • The Isle of Man Aircraft Register is an independently operated British Register with a legal framework that is very similar to that in the UK but with some favourable modifications.
  • The Isle of Man register is not a register of convenience and only aircraft of a high international standard will be accepted.
  • The Registry while small is highly efficient and provides a high quality service with access to senior Registry staff.
  • Isle of Man registered aircraft cannot fly for the purpose of public transport or aerial work.
  • Isle of Man registered aircraft bear the nationality mark "M" followed by the registration mark (eg. M-WZYZ) which consists of four capital letters. The Isle of Man nationality mark is generally considered to be a politically neutral mark.
  • The UK Mortgaging of Aircraft Order 1972 (as amended) has been applied to the Isle of Man with some slight modifications. The Islands laws on the registration and priority of mortgages over aircraft accordingly closely follows the English position.
  • The procedure for registering a mortgage over an Isle of Man registered aircraft is very straightforward.
  • Notice of an intention to register a mortgage, called a priority notice, can be entered on the Isle of Man register.
  • The Island has a favourable tax regime with a 0% corporation tax rate.
  • There is no capital gains tax, stamp duty or insurance premium tax on the Island (5% in the UK).
  • The Island is treated as part of the European Union for Vat and customs purposes.
  • The registry is not able to register fixed-wing aircraft below 5,700 Kgs other than for residents or for businesses operating from the Isle of Man.
  • The Island is a leading centre for aviation finance and leasing.

For more information please contact Timothy Mann e-mail: timothymann@mannbenham.com