Originally Posted by
dont overfil
Would it simplify things if it was a no capital share group?
DO.
No.
Given you are looking to have a UK based N-reg group you have two choices.
1 - Find an American, give him some cash to buy an airplane (which he legally owns and has all of the rights and responsibilities for) and have him let your group use it. - generally a pretty high risk strategy!!
2 - Setup a Trust with one of the companies that does this. They still own the airplane as above, but you (or your group) are defined as the beneficial owners and the Trustees have a fiduciary responsibility (and generally insurance) to you. the Trusts will be very familiar with the documentation for Groups of beneficiaries vs. a single person.
Re - No Capital, some one either has to give the Trustee the airplane or give them the cash to buy the airplane. Fundamentally, the US citizen (i.e. Trust in most cases) must actually own the aircraft.