QUALIFICATIONS
As you may be aware, 49 U.S.C. 44102 and 14 C.F.R. 47.2 restrict which individuals and entities may legally register an aircraft with the Federal Aviation Administration (FAA).
The following people and entities qualify as a registrant:
- An individual who is a citizen of the United States of America (a "Citizen");
- A resident alien (lawfully admitted for permanent residence in the United States of America), in his or her individual name;
- A partnership, each of whose partners is an individual who is a Citizen;
- A corporation or association (including a limited liability company) which qualifies as a Citizen, in that:
- The corporation or limited liability company is organized under the laws of the United States of America or any state, the District of Columbia, or a territory or possession of United States of America;
- At least 75 percent of the voting interest must be owned or controlled by Citizens;
- The president must be a Citizen;
- At least 2/3 of the other managing officers must be Citizens; and
- At least 2/3 of the managing directors must be Citizens.
- A non-citizen corporation (organized under the laws of the United States of America or any state, the District of Columbia, or a territory or possession of United States of America). In this instance, the aircraft must be based and primarily used within the United States of America. In order to meet this qualification, 60 percent of the aircraft use must occur between 2 points within United States of America (with the exception of emergency and fuel stops). The registrant is required to report, to the FAA each 6 months, that the aircraft flight hours support registration.
If you are considering the acquisition of an aircraft registered with the FAA, but do not qualify to act as the registrant, you should consider whether an Owner Trust or a Voting Trust is right for you. Please contact us if we can assist you in any way.
info@aircrafttrust.com | 445-223-1156
