PPRuNe Forums - View Single Post - URGENT Foreigner owns Aircraft but FAA "N" US registered through american citizen
Old 4th May 2009, 10:18
  #24 (permalink)  
mm_flynn
 
Join Date: Aug 2003
Location: Surrey
Posts: 1,217
Likes: 0
Received 0 Likes on 0 Posts
Deegan,


You are probably going to have to go the Delaware corporation route as described in your link. The trust solutions are more applicable to people who want to operate the aircraft outside the US for extended periods of time.

NOTE VERY IMPORTANT - as FF has indicated, if your description is accurate, the aircraft is almost surely unregistered at the moment. This means illegal to fly and uninsurable. The FAA and insurance companies both have a track record of prosecuting/not paying in the event they discover the owner has allowed an unregistered aircraft to be operated.

Also, you may find US insurance companies are a bit twitchy about insuring your particular situation. AVEMCO, while not the cheapest, does have quite a flexible approach. You may need to take an annual policy with quarterly payments (and the ability to cancel on a couple of months notice).

It is worth considering if it is more economic to set the Delaware Corp up, do your US flying ending at your hangar and then have the the engine 'winterised', move to ground only insurance and when you are ready have it crated and shipped rather than have it be periodically flown by someone else (who may be problematic to insure). IO's point regarding European VAT doesn't apply if you are shipping the aircraft (rather than ferrying).
mm_flynn is offline