The 995 fee they charge has more implications in my view. A fractional ownership from a tax perspective is only one if you buy into a definable share of a good and you run an economical risk on this good. In other words: you buy a share in aircraft X and based on what the market value of that aircraft is you get your share back. In this case it is a very obvious way to provide grey market charters.... So which authority looks after them...
