The legal and aviation regulatory requirements are paramount when purchasing any private aircraft.
Along with Registration this element is as important as the choice of aircraft.
The Legal and Regulatory Aviation Requirements when buying a private aircraft.
Both legal and regulatory aviation requirements should be a primary factor when purchasing a private aircraft. They need to cater for and safeguard individuals, and entities in the ownership and operation of aircraft. Accurate and timely legal advice is of paramount importance. Likewise regulatory matters and aircraft registration with the CAA (Civil Aviation Authority) , both of which are obligatory, require careful handling.
Knowledge and Specialism in Aviation.
Hermes Aviation Consultants can provide individuals and entities with law firms specialising in aviation and commercial law. Professional people we have worked over the years and who, in our opinion, maintain the highest industry standards. We can also provide through our network, specialists to advise on tax laws, VAT, importation and how to control the costs associated with acquisitions and sales.
Ownership of Private Aircraft.
The first consideration when purchasing is the type of ownership structure because of the implications otherwise in relation to tax and personal liability. There are many options available. If you plan to own a jet outright, we will provide the right professional legal advice as to the best way to make the purchase given your financial position, your business arrangements and general interests.
Ownership options include:
Owning the jet in your own name | Forming a limited liability company | Ownership through a trust | Forming a joint venture platform (i.e. if a group of people are going to be involved in the purchase).
The Purchase Process.
Buying an aircraft can involve multiple professionals going over the sale and purchase agreement and the aircraft itself with a fine tooth comb to ensure your safety and financial security are not compromised. Please ensure that you involve us when you are at the initial stage of thinking about the purchase.
Caveat Emptor [buyer beware] is the underlying principle that an investor must be conscious of. Ensuring proper due diligence is undertaken by people in the know is critical given the likely level of investment.
At Hermes Aviation Consulting we will project manage the entire process, including procurement of surveyor and engineer reports, undertaking comprehensive due diligence to uncover the build, history and ownership details as well as negotiate the acquisition contract with appropriate warranties / indemnities.
Call us to chat through the different considerations in greater detail.
Providing Expert Private Aviation Advice.
Hermes Aviation Consulting are up-to-date on the changes in aviation legislation. They are time-served professionals with the knowledge and experience to confidently guide you through the often complex legal and regulatory frameworks which exist here in the UK and in overseas territories. In cases where additional support is required we have a panel of advisors to work with, all of whom are experts in asset management, regulatory and tax affairs.
We have a wealth of resources at our disposal our aim is to help you navigate through this process quickly and efficiently.
By keeping up to date with the current regulatory and legal requirements. We are able to give the right advice and guide our clients through the process ensuring all the complex legal and regulatory aviation requirements are met.