KNOWLEDGE BASE

AIRCRAFT REGISTERS

The Isle of Man "M-Register"

Overview Key Advantages How to Proceed

OVERVIEW

Sound business reasons should underpin the choice of jurisdiction when considering where to register your craft. The checklist should include ease of practical operations, geographical convenience, running costs and ease of administration. Other overlapping considerations include the availability of cost-effective and professional services, the status and international acceptability of the jurisdiction and the ability to register a charge or mortgage.

A careful weighing of these factors will often indicate which is the optimum register for any given aircraft. ("Owners need to brush up on the art of aircraft registration" Mike Byrne, ebanmagazine.com, February 2007)

The Isle of Man checks all the boxes for owners wishing to take advantage of the Island's easy operating distance from the UK and Europe. It is open to all non-commercial aircraft including private jets, corporate jets and helicopters, and has secured the coveted single letter "M" prefix.

The island has structured its registration service to maximise benefits for aircraft owners. It operates its own mortgage registry, offers no insurance premium tax and a competitive scheme of charges. The small scale of the register is likely to appeal to owners who will find it more user-friendly and less bureaucratic, and its Civil Aviation Team is able to travel, outside of business hours where necessary, to accelerate the registration process.

As a AA+ rated offshore jurisdiction that operates as a Crown Dependency with its own government and legislation, it enjoys an outstanding reputation within the international community and consequently registration here would not be considered a "flag of convenience".

The Isle of Man's thriving yacht registration sector is a major factor in its government's decision to offer a private aircraft registry primarily aimed at business aircraft. Yacht owners who also have aircraft or helicopters will benefit from registering them in the same jurisdiction.

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ADVANTAGES OF THE ISLE OF MAN M-REGISTER

A few advantages of the M-Register include:

  • Secure Mortgage Registry - The island offers a secure mortgage registry to facilitate the financing of aircraft where required.
  • Privacy - The identity of the owner can remain undisclosed.
  • Flexibility - Unlike similar registers, your unique M-registration can be transferred to future new aircraft.
  • Stability and Neutrality - The Isle of Man, and its aircraft registration prefix, is considered politically neutral – an important consideration in the modern era.
  • Lowered Operational Costs - The Isle of Man offers a zero rate on corporation tax and has eliminated Insurance Premium Tax (usually 5%) –significantly lowering operational costs.
  • VAT Zero Rating - The Isle of Man is the only offshore centre that enables registration for EU VAT/IVA, yet still enables businesses to benefit from a zero direct tax regime.
  • Yacht & Aircraft Registration Synergy - Yacht owners who also own aircraft or helicopters, will benefit from being able to register these aircraft in the same jurisdiction.
  • Single Letter Registration Prefix - Aircraft owners registering on the island enjoy a single letter “M” registration with distinctive tailsign options such as M-AGIC, M-YJET, M-ICRO and M-NACO.
  • High Regulatory Standards - The Isle of Man offers the same regulatory standards as the United Kingdom’s familiar “G” prefix. As it operates as a Crown Dependency, it will not be considered a “registration of convenience”.
  • AA+ Rated Jurisdiction - The M-Register delivers a high level of service and beneficial financial and insurance arrangements.
  • European Time Zone - Air travel time from the Isle of Man to the UK and onward to the nearest European city is less than two hours.
  • All Hours Registration Service - The island’s aviation authority can (by arrangement)operate outside of normal business hours to facilitate registration where aircraft are set for delivery in other time zones.
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CALL A CONSULTANT

Purchasing an aircraft is a major acquisition which requires careful planning and consideration. OCRA Aerospace is one of only a select few Isle of Man-based aircraft companies with the depth of experience to handle every aspect of an aircraft’s life cycle. We enjoy a close working relationship with the Isle of Man’s Department of Civil Aviation, ensuring a seamless registration process and helping owners to realise the full benefits of the M-Register.

As a dedicated division of OCRA Worldwide, we are positioned to assist at every level. Our professional services go beyond aircraft registration and include ownership structuring that provides for beneficial VAT planning and tax mitigation (and/or deferral). We are also able to arrange for aircraft finance and insurance, and will take care of any project management requirements in addition to the day-to-day maintenance and management of the aircraft. In short, we take care of all aspects of aircraft ownership providing owners with a single and dedicated point of contact for the ongoing management of this most valuable asset.

If you would prefer to make contact with a consultant at one of our offices who speaks your language, click here for a full list of our office contact details, otherwise follow the details below to make contact.

Alternatively, click on the link below to complete and submit our aircraft questionnaire:
Aircraft Questionnaire or visit our website www.ocra.aero for more information.

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Disclaimer: Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other
professional advice. OCRA Worldwide does not accept any responsibility, legal or otherwise, for any errors or omission.