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The San Marino Aircraft Registry delivers business advantages

05/12/2014 by Aviation Times

Speaking at CEPA Expo 2014 David Colindres, President of the San Marino Aircraft Registry, took the opportunity to alert delegates to the business advantages of registering their aircraft with the San Marino Aircraft Registry. David advised “One of the key factors that we offer to aircraft owners, financiers and leasing companies is the flexibility to use offshore “vehicles” operating in ECD whitelisted tax-neutral jurisdictions; while at the same time the aircraft or asset is regulated andoverseen by a reputable Civil Aviation Authority.”

To conduct commercial air transport operations, an operator must comply with all San Marino Civil Aviation Authority requirements CAR-OPS 1. The certification process is designed to ensure that prospective AOC holders understand and are capable of fulfilling this duty. When satisfactorily completed, the certification process should ensure that the operator is able to comply with Civil Aviation Authority legislation and regulations, which are in accordance with the international standards.

To further underline the San Marino Aircraft Registry’s commitment to the aviation industry, the Registry has the honor of recently announcing the San Marino Republic’s accession to the Cape Town convention. The agreement comes into force on January 1, 2015.

The Cape Town Convention is one of the most important and innovative international conventions ever to have been concluded in the field of transactional commercial law and has already secured nearly 50 ratifications.

The Cape Town Convention is intended to give parties involved in such transactions greater confidence and predictability, principally through the establishment of a uniform set of rules guiding the constitution, protection, prioritization, and enforcement of certain rights in aircraft and aircraft engines. It alters the rules governing aircraft sales, leases and financing on a jurisdiction-by-jurisdiction basis by establishing a new international framework and providing for the creation of an International Registry (“The International Registry”) to be supervised by the International Civil Aviation Organization (“ICAO”).

David Colindres added: “This ratification is very important as it gives value added and confidence to banks and leasing companies. The Registration of interest in an asset such as an aircraft is considered to be best practice for owners, creditors, debtors, lessors, lessees, agents and others in protecting their financial interest in such an asset.”