US Trustee for Aircraft & Yachts
Aircraft and Yacht Registration Worldwide for US and International Clients
Please note, we can not establish a company or accept your application, nor open a bank account for you if you are from Cuba, Iran, Iraq, Afghanistan, Pakistan, North Korea, Sudan, Western Balkans, Burma, Liberia, Nigeria, Zimbabwe and some other African and MidEastern countries to be determined as acceptable by the Bank or if your name appears on the OFAC list of blocked persons or companies. That list can be accessed from this link found at List of Specially Designated Nationals and blocked Persons
To fulfill the requirements established by the FAA and fly an aircraft with an "N" number outside the USA, the aircraft must be 75% owned by US citizens. The same 75% citizenship requirement has also been established by the US Coast Guard prior to documenting a vessel.
As an International client (not a citizen of the US) to protect your aircraft or yacht and meet these requirements you will need US Registration through a Delaware Company & Trust Structure. This is our "Specialty".
Purchasing an aircraft or yacht is a huge investment and requires a lot of thought. There are several possible options available, other than deciding on the type of aircraft yacht or cost. The legal ramifications including asset protection must be considered.
To protect your personal assets one should own an aircraft or yacht as a Corporation.
The state of Delaware is recognized as having a favorable tax climate with:
No Sales tax
No Personal property tax
No Intangible property tax
No Stock transfer tax
Frequently Asked Questions
Q. Can an International citizen own an aircraft or a yacht without qualifying as a US citizen?
1. Yes. Foreign aircraft corporation - if the aircraft will be flown at least 60% of its flight time in the US, it can be registered to a US corporation which is foreign owned provided that regular returns are filed with the FAA proving its flight time in the US. You must keep a log and provide the address as to where the log is located for inspection at all times.
2. No. Foreign-owned yacht corporation - The USCG requires that you meet the 75 % citizenship requirements at all times.
Q. If I do not meet the above requirements what are my options to meet FAA or USCG requirements for citizenship?
The answer is to form a Statutory Trust.
Owner Trust - If the aircraft is settled in trust with a US trustee it may be beneficially owned by a foreign person or company.
Q. What is a Statutory Trust?
A Statutory Trust is quite simply an agreement between one person (the settlor) who gives 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 solely for one beneficiary which is the settlor. The reason that a Trust is required by the FAA and USCG is that in this way they can ultimately control the aircraft or yacht through their US Citizens who are the registered trustees of US registered aircraft or yacht.
Q. When establishing the trust, how am I protected?
We take the following steps to minimize your risk and maximize your security:
1. We specialize in registering US aircraft with the FAA for foreign owners and take your interest to heart.
2. 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.
3. 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 your follow the 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.
4. We ensure that you have not just the trust and registration documentation but also all ancillary documents required to legally operate the aircraft or yacht internationally.
5. All State and Federal government documentation will be sent promptly
Q. What does it cost to initiate the Trust Agreement and register the aircraft?
Initial costs to set up a new Delaware Corporation and Delaware Statutory Trust including the Trust Agreement with a Procession Directors is as follows:
1850 - Preparation of Trust Agreement
1500 - Professional Directors (initial year)
430 - Formation of Corporation for Aircraft and Yachts
500 - Statutory Trust preparation and filing in Delaware
450 - Prepare and File the application with the USCG or (yachts)
215 - Sign and File application with FAA (aircraft)
250 - Process FAA application expedited
You must provide us with the following documentation:
- Proof of Insurance naming us and holding us harmless for any debt or injury pertaining to the aircraft or yacht
- Notarized copy of Passport and Drivers License for all directors and officers of the Delaware entity
- Letter of Recommendation notarized by a licensed attorney or accountant that can attest and state that they know you and believe you to be a reputable person.
- Proof that the aircraft or yacht is free of debt or if mortgaged a letter from the bank indicating our involvement with the aircraft or yacht.
- Notarized Bill of Sale from present owner to new Delaware corporation
Builders Certificate, if never registered or USCG documented
Copy of USCG Document if documented
Original title if state registered
Q. Is there an annual administration fee?
Thirty days prior to the anniversary of your agreement we will bill you for renewing the
Professional Director and
These fees include the cost of directors' fees.
Other fees payable in January on a calendar basis are:
$ 90 - Registered agent fees
$125 - Delaware State Franchise tax
$ 35 - Preparation and filing of above
$450 - Filing and signing of federal tax returns with the IRS
N/C - Proof of Insurance naming us as the Trustee
NOTE: Our base package price includes a standard legal review of up to two (2) hours to verify the submitted documents meet our corporate and due diligence AML/KYC requirements. If the actual transaction involves more legal time, such as reviewing loans, guarantees, due diligence submissions, collateral agreements, vetting multiple owners, supplementary agreements, changes to the Professional Directors Agreement insurance issues, or related items to the core transaction, we reserve the right to charge the client for the required additional attorney, paralegal, administrative, and out of pocket direct costs (such as overnight carrier or filing fees) at the standard rates we are billed from the provider. Such charges are to be paid prior to any final papers being issued from our company to the Parties.
Please click here to get started or request additional information on our Trustee Services for Aircraft Registration for International clients.Call toll-free 800.219.9359.