A/C group share - guide to setting one up?
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Join Date: Apr 2000
Location: London, UK
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A/C group share - guide to setting one up?
Hi all,
I'm looking for some information regarding setting up an A/C group share.
Am currently looking at an aircraft based in the States. Once it is purchased it (i.e. once prospective group members have been found and the cash raised
) it will be flown to the UK.
The aircraft is a single engine RG, 170KT kit-build so don't know what implications this may or may not have.
Obviously I'm doing my research too but would appreciate any additional info. If anyone has any information (links or personal advice) regarding setting one up from scratch within the UK - information regarding all matters legal and otherwise, that would be appreciated
Many thanks.
I'm looking for some information regarding setting up an A/C group share.
Am currently looking at an aircraft based in the States. Once it is purchased it (i.e. once prospective group members have been found and the cash raised
) it will be flown to the UK. The aircraft is a single engine RG, 170KT kit-build so don't know what implications this may or may not have.
Obviously I'm doing my research too but would appreciate any additional info. If anyone has any information (links or personal advice) regarding setting one up from scratch within the UK - information regarding all matters legal and otherwise, that would be appreciated
Many thanks.
Not a hope mate.
There are no, repeat no, readily available concessions that will allow you to take a US kitbuilt aircraft and operate it routinely in the UK.
I could give you chapter and verse, but it would be easier to ask directly. You need to talk to
(1) PFA Engineering ([email protected])
(2) CAA (A&[email protected])
I'll let them give you the detail since they're paid to do that sort of thing and I'm not - but you'll not succeed.
Either buy something already with a UK permit / CofA, or import an N-reg aircraft with a full CofA. Don't try and get inolved in a US "experimental" aircraft from the UK, it'll all end in tears.
G
There are no, repeat no, readily available concessions that will allow you to take a US kitbuilt aircraft and operate it routinely in the UK.
I could give you chapter and verse, but it would be easier to ask directly. You need to talk to
(1) PFA Engineering ([email protected])
(2) CAA (A&[email protected])
I'll let them give you the detail since they're paid to do that sort of thing and I'm not - but you'll not succeed.
Either buy something already with a UK permit / CofA, or import an N-reg aircraft with a full CofA. Don't try and get inolved in a US "experimental" aircraft from the UK, it'll all end in tears.
G
Not so N, but still FG
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Assuming that you find an aircraft that you will be able to operate here, I suggest that you then go to any of the web based company formation agents and obtain a £100 limited company to buy the aeroplane. Issue one £1 share per group member and appoint each one a director, with one person as secretary. THe requirements of annual returns and accounts are very simple: guidance is freely available from Companies House. Treat each member's capital input as a director's loan to the company. Shares can change hands for a nominal sum, with new members lending the company the mponey to pay off the outgoing member. There are other ways, this is just one of them. Perhaps other ppruners can send you their sample group agreements/group rules.
Sort out responsibilities for engineering, for billings, and for bookings. Start an engine fund and don't dip into it. Decide who pays for minor damage to the aircraft (group or person responsible). Have fun.
Sort out responsibilities for engineering, for billings, and for bookings. Start an engine fund and don't dip into it. Decide who pays for minor damage to the aircraft (group or person responsible). Have fun.
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Thanks for the input so far, please keep it coming.
Geng: I have emailed the engineering department at the PFA. Will see how it goes. The plane is by a well known kit-build brand with hundreds of similar planes flying in the States. Though not listed on the PFA site as an approved type, I'm damn sure I've seen a pic of a G-registered one...
Geng: I have emailed the engineering department at the PFA. Will see how it goes. The plane is by a well known kit-build brand with hundreds of similar planes flying in the States. Though not listed on the PFA site as an approved type, I'm damn sure I've seen a pic of a G-registered one...
