IO540
I'm no expert on this - I don't have to be!
As a non US citizen FAR 47.9 does NOT apply. A non US citizen /resident alien cannot legally own a N reg aircraft.
Quote:
| That is very interesting because it means that when you import an N-reg, or transfer a plane to N-reg, you don't have to put it in a U.S. trust for 6 months, doesn't it? |
I believe that the importation part is the area where folks can get into legal trouble.
The new (non citizen) 'owner' does not have some months grace period.
As soon as the sale concludes, the registration changes ownership from the prior US owner to the new 'owner' who then wants to fly it or crate it over to the UK, that is the time that the UK 'owner' can be in violation of the Federal law - as he cannot legally own the aircraft and the aircraft has to be registered to somebody.
My understanding is that the trust should be set up before the aircraft is purchased and the trust be fully involved in the purchase and the aircraft put into that trust immediately as part of the purchase process. The trust company perform the registration filing with the FAA etc.
At no time can the non citizen own the aircraft.
The various trust companies are the best folks to advise on this.