Be.Legal can assist you with various aviation-related services including the setting-up of the appropriate corporate structures and the registration of aircraft and aircraft mortgages, in accordance with the Aircraft Registration Act, 2010 which is the main Maltese legislation regulating the following:
- the registration of aircraft and aircraft mortgages;
- the aircraft register;
- the recordation and enforcement of aircraft mortgages and other interests in aircraft
- the special privileges on aircraft;
- the ranking of secured creditors;
- the implementation of the Cape Town Convention and the aircraft protocol and its interface with domestic law.
Main advantages under the Act and related legislation
- Encourages the development of finance and operating leases of aircraft and provides clear rules on the tax treatment of the finance charge, available tax deductions to finance lessors and capital allowances for lessees;
- No withholding tax on lease payments where the lessor is not a tax resident of Malta;
- Competitive minimum depreciation periods for aircraft;
- The private use of an aircraft by an individual who is not resident in Malta and is an employee/officer of an employer/company/partnership whose business activities include the ownership/leasing/operation of aircraft used for international transport does not constitute a taxable fringe benefit;
- Implements the provisions of the Cape Town Convention on International Interests in Mobile Equipment and its Aircraft Protocol thereby granting secured lenders a higher degree of protection and more effective remedies whilst allowing lower borrowing costs.
Who may register aircraft
- An owner of the aircraft who operates the said aircraft;
- An owner of an aircraft under construction or temporarily not being operated or managed;
- An operator of an aircraft under a temporary title who satisfies the conditions as may be prescribed;
- A buyer of an aircraft under a conditional sale or title reservation agreement which satisfies the conditions which may be prescribed and who is authorised to operate the aircraft.
