Q. I understand that if I am not a US citizen I can still either register my airplane or yacht in the US by registration through a Delaware Company & Trust Structure. How am I protected?
A. We take the following steps to minimize your risk and maximize your security. At AMG we specialize in registering US aircraft with the FAA for foreign owners and take your interest to heart.
1. All aircraft and yachts, under our administration are registered to individual owner Trustee corporations. This is important because the Trust agreement, which the beneficial owner of the aircraft or yacht will have to sign, will include indemnities in the event that the Trustee is sued. Where an individual or a Trust company, which registers itself directly as the owner of the aircraft or yacht, is sued then they will claim against you under its indemnity. Where the Trustee is a separate trustee corporation for your use only, then you get the added protection of being able to rely on its limited liability for your protection.
2. By utilizing our professional and knowledgeable services you can be assured and feel confident that your aircraft or yacht will be properly owned by a US Corporation registered in Delaware and provide you with all proper documentation included in the trust agreement. As long as you follow the administrative rules and provide us with the due diligence we require, you will have the ability to fly the aircraft or sail the yacht legally outside of the US.
3. We assure that you have the trust and registration documents required to legally operate the aircraft or yacht internationally.
4. All State and Federal government documentation will be sent promptly.
Q. If I do not meet the above requirements what are my options to meet FAA or USCG requirements for citizenship?
A. The answer is to form a Statutory Trust.
Q. What is a Statutory Trust?
A. A Trust is a legal entity that is formed under an agreement between one person (the Settlor or Grantor); the terms of the trust transfers to another person (the Trustee), an asset; in this case an aircraft or yacht, to hold on certain terms. In the case of an Owner Trust, the aircraft or yacht is typically held for one beneficiary, which is the Settlor.
In the case of a foreign owner of the aircraft or yacht desiring US registration, a Trust is required for compliance with the with the FAA and USCG regulations because an owner can ultimately control the aircraft or yacht through their US Trustee (US citizen), who is the registered Trustee of the US registered aircraft or yacht.
- Owner Trust - If a foreign person or company settles the aircraft in trust with a US Trustee, it may be beneficially owned.
Q. Can I own my aircraft in the US if I am not a US citizen and fly with an “N” number?
A. Yes. A non-citizen corporation lawfully organized and doing business under the laws of the U.S. or one of the States as long as the aircraft is based and primarily used in the U.S. (60% of all flight hours must be from flights starting and ending within the U.S.) An address for all records or flight hours must me available for inspection.