PRIVATE CLIENT

PRIVATE CLIENT

* AIRCRAFT REGISTRATION & MANAGEMENT

Aircraft can be registered in the name of the owner, but registering an aircraft in the name of a company or special purpose vehicle (SPV) can provide a number of distinct advantages. Access to corporate limited liability and enhanced levels of confidentiality may be the most immediate, but a company structure also offers significant potential benefits in respect of inheritance tax and succession issues, as well as reducing transfer fees in any future sale of the asset.

AV’s services are primarily tailored to private clients with corporate jets, turboprops or helicopters but we can also assist commercial passenger and freight operators as well as general aviation entities and fliers.

All such corporate structures must comply with the current legislation in the home country of the beneficial owner and with international standards.

The large majority of corporate aircraft remain registered where their owners are based and in their principal spheres of operation. However, there is a sizeable and growing group of ‘geographically mobile’ owners, usually operating internationally who are keen to look at other jurisdictions which perhaps offer distinct advantages.

The number of jurisdictions launching registries or opening up the eligibility criteria for existing registers continues to grow. Whilst the registration process in each case is broadly similar, each registry aims to offer a unique selling point and these factors may need to be taken into account when making a decision on where to register:

- Ease of process and customer service

- Acceptability to financial institutions

- Ability to register a mortgage

- Cost

- Potential tax advantages

- Recognition of technical standards

- Crew licensing

- Minimum aircraft age

- Neutral registration marks

- Acceptance of corporate structure

- Nationality/residence of the owner

- Geographical location of the register

* FOREIGN PROPERTY OWNERSHIP

Arkadia Venture assists many of its clients with the acquisition of real estate worldwide. We advise on tax and structuring, and can also manage the transaction process and financing arrangements. With our regional knowledge of property ownership laws and regulations, along with our tax planning expertise, we can help clients to reduce any potential exposure.

Most people who own or intend to own property abroad will not be fully conversant with local legal procedures or taxes – stamp duties, municipal and wealth taxes – and may not fully recognise the longer term implications in terms of potential exposures to capital gains tax, inheritance tax or forced heirship rules. Substantial benefits may be derived through the use of corporate, trust or foundation structures to address these issues.

Issues that would-be buyers need to consider include:

01 - The purpose of the property

02 - Who will live there

03 - The legal status of the owner

Arkadia Venture has long experience in structuring foreign real estate ownership. We appreciate that each family presents a unique set of circumstances and will work to balance their residence requirements with their estate planning needs and to structure ownership of real property to the family’s advantage.

Through our global office network we have built particularly close relationships, over many years, with lending institutions, leading agents and foreign lawyers, enabling us to offer our clients a seamless and consistently high-level of service when acquiring real estate across the world.

Spanish property is a particular area of expertise. Arkadia Venture can assist clients in the sourcing, financing, acquisition and ownership structuring of residential, ‘buy-to-let’, and commercial and development properties, regardless of the client’s domicile or their current country of residence.