Aviation 1.jpg

Aviation

The Isle of Man established its own Aircraft Registry in 2007, and since then the cluster of related businesses is growing steadily.

The Isle of Man has become increasingly confident in the Aviation sector, since the establishment of the Isle of Man Aircraft Registry in 2007.

Island businesses are able to offer mortgages, Manx lawyers will register such mortgages for foreign banks, and corporate service providers (CSPs) offer new structures to own and manage locally registered aircraft.

The cluster of aviation-related businesses is currently growing, thanks in part to high regulatory standards, in conjunction with no insurance premium tax (compared with 6% in the UK).

Plane

The Isle of Man's aircraft registration prefix nationality mark is 'M' followed by a hyphen and four characters. This has already produced some interesting registrations such as M-AGIC, M-YJET, M-IDAS and M-ONEY. Aircraft owners may also transfer their personal registration to their next aircraft.

In July 2012 the Aircraft Registry achieved a significant milestone with the registration of its 500th aircraft.

Acknowledgements: whereyoucan.im and DED