Quick Reference Country Data

Austria

Registry: Austro Control GmbH (Austrian CAA) Prefix: OE-

Location: Austria Country Status: Republic, EU Member

Aircraft

Weight Restrictions: No

Maximum Age: No

Aircraft Type Certificate: EASA

Typical Structure: N/A

Operation

Private Use: Yes (EASA standards applied)

Commercial Air Transport: Yes (EASA standards applied)

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Only Chattel mortgage (Seek legal advice).

Priority Notice: Yes, but not publicly registered.

Public Registration: No

Deregistration Power of Attorney: Yes

Cape Town: No.

Azerbaijan

Registry: Registry of the State Civil Aviation Agency under the Ministry of Digital Development and Transport of the Republic of Azerbaijan Prefix: CAA- Location: 11 Azadlig avenue, Baku, AZ1095, Republic of Azerbaijan Country Status: Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: None

Typical Structure: None

Operation

Private Use: Aircraft can be operated by individuals and legal entities having an air operator certificate issued for certain fee. A person leasing aircraft in accordance with laws based on an operating lease must also have an air operator certificate. The air operator certificates are issued by the CAA. Foreigners and foreign legal entities may operate aircraft in Azerbaijan upon the recognition of analogical documents issued by CAAs in other countries.

Commercial Air Transport: Civil aviation conducting the carriage of passengers, luggage, cargo and mails for a certain fee is considered commercial civil aviation. Carriage of weapons in the part allocated for passengers in commercial aircraft is allowed only if accompanied by the armed forces and subject to taking the relevant security measures.

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Under the Azerbaijani International Private Law, in rem rights in transport means must be determined in accordance with laws where the transport means are registered. Law applicable to a mortgage agreement can be chosen by the parties to it. Otherwise, the law of the mortgagor shall apply subject to the conflicts of law rules.

Registration/recordation of security interests for foreign-registered aircraft is not required under the Azerbaijani aviation laws. Under the Aviation Law, information about the aircraft (other than a foreign-registered aircraft) mortgage is entered into the aircraft registry.

Priority Notice: Pursuant to sub-section 748-1.12 of the Civil Code, the lessor is entitled to repossess the object of a lease and take the funds back unconditionally and terminate the lease if:

(i) Lessee’s use of the lease object does not comply with the terms of lease and contradicts the designation of the lease object

(ii) Lessee subleases the lease object without the lessor’s consent

(iii) Lessee fails to maintain the lease object in appropriate condition, thereby deteriorating its operation features

(iv) Lessee fails to make payments under the lease more than two consecutive times.

Public Registration: Aircraft operated from Azerbaijan must be publicly registered in the Republic of Azerbaijan and its registrability is achieved subject to all the following conditions being met:

(i) The owner (possession) of aircraft is the Republic of Azerbaijan or individuals or legal entities of the Republic of Azerbaijan

(ii) There is an airworthiness licence (certificate) issued in accordance with the Aviation Law or an analogical document issued by another country and recognised in the Republic of Azerbaijan

(iii) The aircraft is not registered in any other state. If the ownership of aircraft belongs to a subject of the Republic of Azerbaijan and it is stationed in the territory of another state or if it is a foreign-registered aircraft leased to, and operated from, Azerbaijan, it may be temporarily recorded in Azerbaijan.

Temporary recordation card of aircrafts in the Republic of Azerbaijan shall be kept on the aircraft together with the certificate of registration issued by lessor state.

Deregistration Power of Attorney: A waiver of the right to revoke a power of attorney is void in the Republic of Azerbaijan. The validity or enforceability of an irrevocable power of attorney valid under a foreign law has never been challenged in the Azerbaijani courts.

Cape Town: No.

Bahrain

Registry: Bahrain Civil Aviation Affairs (BCAA) Prefix: A9C- Location: Asia Country Status: Kingdom

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: EASA

Typical Structure: None.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: There is no detailed law organising the mortgage of an aircraft. However, as per the Civil Aviation Law, the aircraft mortgage must be approved and registered with the BCAA in order to be effective.

Priority Notice: The registration of a right over the aircraft with the BCAA will automatically grant priority to the owner of such right from the date of registration of such right.

Public Registration: No

Deregistration Power of Attorney: Although the deregistration power of attorney is not required by the BCAA, original notarised copy should be submitted to the BCAA.

Cape Town: Yes.

Bermuda

Registry: Bermuda Civil Aviation Authority Prefix: VP-B/VQ-B Location: Located in the Atlantic Ocean between the UK and the US

Country Status: United Kingdom Overseas Territory

Aircraft

Weight Restrictions: No

Maximum Age: No

Aircraft Type Certificate: ANAC (Brazil), EASA, FAA and Transport Canada

Typical Structure: The registrant will typically be a company incorporated with limited liability.

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes. (The costs depend on the amount of the mortgage and range from $100 to $800).

Restriction Governing Mortgage Law: The mortgage need not be governed by Bermuda law.

Priority Notice: Yes

Public Registration: Yes

Deregistration Power of Attorney: Yes

Cape Town: Yes. It came into effect on January 1st 2018.

Canada

Registry: Canadian Civil Aircraft Register maintained by Transport Canada Civil Aviation Prefix: C- Location: North America Country Status: Federal State

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: State of Design

Typical Structure: Canadian SPV (Corporate or Partnership).

Operation

Private Use: Yes

Commercial Air Transport: To operate commercial services, the operator must obtain an air operator certificate and air carrier licence(s).

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: No

Priority Notice: IR and/or provincial registry, as applicable

Public Registration: Yes (International Registry for Cape Town Convention aircraft objects; applicable provincial registry for all aircraft objects and non-Cape Town assets).

Deregistration Power of Attorney: Irrevocable Deregistration and Export Request Authorisation.

Cape Town: Yes.

Cayman Islands

Registry: The Cayman Islands Aircraft Registry (CIAR) Prefix: VP-C (plus 2 letters) Location: Cayman Islands, Caribbean Country Status: United Kingdom Overseas Territory, operated by the Civil Aviation Authority of the Cayman Islands (CAACI)

Aircraft

Weight Restrictions: Other than aircraft where the Operational Base is approved to be in the Cayman Islands, it is the CAACI’s policy to only accept aircraft of a Certified Maximum Take-Off Weight (MTOW) exceeding 12,500lbs/5,700kg for registration on the C.I. Aircraft Registry.

Exceptions are considered, and decisions for acceptance are based on generality of interests to aviation on the Cayman Islands aircraft register in respect of modern light turbojet, turboprop aircraft and helicopters based on Cayman Islands registered yachts.

Maximum age restrictions: There is no set age restriction. However, for aircraft 20 years and older, before a Registration Application is submitted for CAACI acceptance, applicants within this category are requested to enquire with regards to the suitability of the aircraft to the CIAR. The enquiry should be sent to the director of Air Safety Regulation at [email protected]. The following details of the aircraft should be provided in the enquiry: its designation, year of manufacture, TCDS compliance, current State of Register, overview of operating history and details of any modifications incorporated required to comply with current certification and operating requirements. Each aircraft will be considered on a case-by-case basis.

Aircraft Type Certificate: The CAACI accepts and validates a certification approval granted by the Authority of the State of Design. For aircraft type certificates issued by the EASA, TCCA, or FAA, the CAACI accepts that they comply with the basic requirements of the required airworthiness standards.

Typical Structure: Ownership through special purpose company. Eligible owners: (a) The Crown in right of His Majesty’s Government in the UK or in right of the government of the Territory (Cayman Islands) (b) UK nationals (c) Commonwealth citizens (which includes citizens of the Cayman Islands) (d) Nationals of any European Economic Area State or of the Swiss Confederation (e) Bodies incorporated in any part of the Commonwealth and which have their registered office or principal place of business in any part of the Commonwealth; or (f) Undertakings formed in accordance with the law of an European Economic Area State or of the Swiss Confederation and which have their registered office, central administration or principal place of business within the European Economic Area or within the Swiss Confederation.

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes

Governing Mortgage Law: Cayman Islands Mortgaging of Aircraft regulations 2015.

Priority Notice: Yes. If an intended mortgage has not yet been finalised or the aircraft is not yet registered, a priority notice can be filed with the CAACI to secure the order of priority of the mortgage should there be another mortgagee intending to register a mortgage. A priority notice is effective for 14 days and can be renewed indefinitely but there is a charge of CI$250 at each renewal [sec 9 (2)(a) of Air Nav (Fees) Regulations, 2010]. To request a registration of a priority notice a Priority Notice Application should be completed and sent by email to [email protected]. It is not necessary to include any final mortgage documents with the priority notice application but a draft of the mortgage deed should be sent to crosscheck the particulars.

Public Registration: The Cayman Islands Aircraft Mortgage Register is not currently a public document but a search of the mortgage register can be conducted at a fee of CI$100 at [email protected]

Cape Town & Deregistration power of attorney: After the UK ratification of Cape Town effective November 1st, 2015 and its extension to the Cayman Islands, The Cayman Islands government along with the Civil Aviation Authority of the Cayman Islands announced the enactment of The International Interests in Mobile Equipment (Cape Town Convention) Law, 2015, which brings the Cape Town Convention into force in the Cayman Islands effective November 1st 2015 and, consequently, the Cayman Islands will have international recognition under the Cape Town Convention.

Accordingly, relevant filings such as the Irrevocable Deregistration and Export Request Authorisation (IDERA) and the Deregistration power of attorney can now legally be filed with the Cayman Islands Aircraft Register under the Cape Town Protocol. Such filings are to be notarised and carry a fee of CI$250/US$304.88.

Filings on the International Register for a Cayman Islands registered aircraft should be done independently by interested parties. Further enquiries can be made to [email protected].

China

Registry: Civil Aviation Administration of China Prefix: B- Location: Asia Country Status: Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: Yes

Typical Structure: None

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: PRC

Priority Notice: Yes

Public Registration: Yes

Deregistration Power of Attorney: Yes (not registerable)

Cape Town: Yes.

Columbia

Registry: Unidad Administrativa Especial de Aeronáutica Civil de Colombia (UAEAC) Prefix: HK- Location: Bogotá, D.C., Republic of Colombia Country Status: Republic of Colombia

Aircraft

Weight Restrictions: Aircraft with a MTOW over 363,000 kg must obtain prior consent from the UAEAC for import purposes.

Maximum Age: For commercial passenger aircraft there is a maximum age of 22 years.

For a commercial passenger/cargo aircraft there is a maximum age of 40 years.

For aircraft used for non-regular activities other than agricultural aviation there is a maximum age of 35 years.

For aircraft used in any other activity other than the ones above there are no maximum age restrictions provided the aircraft meets the airworthiness and operation criteria set out in Chapter II of the Colombian Aviation Regulations No. 4.

Aircraft Type Certificate: Accepted by the UAEAC from the state of manufacturer of the aircraft.

Typical Structure: No specific requirements

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: After the accession of Colombia to the Cape Town Convention, mortgages over Colombian or foreign registered aircraft do not need to be subject to Colombian law in order to be recognised or enforceable in Colombia. Thus, the choice of foreign laws to govern a mortgage would be a valid choice of law in Colombia.

Yet, if the mortgage is to be enforced in Colombia it might not be enforced as per its terms since there are no proceedings envisaged to this effect in Colombia. Therefore, Colombian law may be applied in this case. Mortgages in Colombia do not afford the secured lender any rights to take possession of the aircraft. The lender’s rights are limited to initiate legal proceedings to causing the aircraft to be sold in public auction through judicial proceedings and to be repaid with the proceeds of the sale or mortgagee may request in the judicial proceedings that the aircraft is awarded to it.

Priority Notice: None

Public Registration: An aircraft mortgage must be registered with the Aircraft Registry of the UAEAC to be valid and enforceable in Colombia. The Aircraft Registry is a public registry.

Deregistration Power of Attorney: DPoAs are enforceable. IDERAs are not.

Cape Town: Colombia has ratified and brought into force the Cape Town Convention on International Interests in Mobile Equipment and the Protocol to the Convention on Matters Specific to Aircraft Equipment by means of Law 967 of 2005 and such Law was reviewed by the Constitutional Court through ruling C-276-2006. The Cape Town Convention and the Aircraft Protocol are in force in Colombia since June 1st 2007.

Costa Rica

Registry: Costa Rican Aeronautical Registry, National Registry Prefix: TI- Location: Central America Country Status: Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: Aircraft Type Certificate, issued by manufacturer

Typical Structure: None

Operation

Private Use: Yes, with incorporation of aircraft in the Aeronautical Registry

Commercial Air Transport: Yes, with incorporation of aircraft in the Aeronautical Registry.

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: In general terms, the laws of the Republic of Costa Rica shall govern chattel mortgages on Costa Rican aircrafts. Local legislation regarding chattel mortgages and aircraft include: the Commerce Code, Civil Code, Civil Procedures Code, Notarial Code, the General Law of Civil Aviation, the Regulations for the Operation of the Costa Rican Aeronautical Registry and the Regulations for the Organization of the Public Registry of Moveable Property.

In Costa Rica it is widely accepted that the parties to any contract may choose any governing legislation, for execution and security purposes it is recommended for chattel mortgages on Costa Rican aircraft to be governed by local legislation and to be dully registered within the Public Registry of Moveable Property.

Priority Notice: First in time, first in right.

Public Registration: Yes. Chattel mortgage shall be agreed by the parties in a public deed before a public notary to be able to then proceed with registration within the Public Registry of Movable Property.

Deregistration Power of Attorney: Yes. A chattel mortgage may be discharged by agreement between the parties or by payment of the total amount outstanding. Discharge of the chattel mortgage will also occur upon adjudication in the case of a foreclosure sale, upon the loss or destruction of the aircraft (in the absence of insurance), and upon expiration of the statute of limitations.

For deregistration to take place, a document cancelling the chattel mortgage must also be documented in a public deed format granted before a Costa Rican public notary. Deregistration documents must be filed for registration at the Public Registry of Movable Property and at the Aircraft National Registry.

Cape Town: Yes.

Croatia

Registry: Croatian Civil Aircraft Register, maintained by the Croatian Civil Aviation Agency (CCAA) Prefix: 9A- Location: Europe Country Status: Republic, EU Member State

Aircraft

Weight Restrictions: None

Maximum Age: None, but subject to airworthiness requirements

Aircraft Type Certificate: EASA

Typical Structure: Limited liability company, company limited by shares.

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes, called pledge (hypothec) over aircraft.

Restriction Governing Mortgage Law: The law of the country of registration shall be applied regarding ownership title and other rights in rem over the aircraft.

Priority Notice: N/A. The priority of mortgages over aircraft is determined according to the date and hour that the CCAA received the request for registration of mortgage. Under Croatian law, it is possible to register the so-called ‘note on priority order’ before the mortgage has been created to keep the priority order in the Croatian Civil Aircraft Register.

Public Registration: Yes, in the Croatian Civil Aircraft Register.

Deregistration Power of Attorney: Yes, but with limited effect because it can be revoked any time and it may be considered outdated due to lapse of certain period of time.

Cape Town: No.

Denmark

Registry: The Danish Aircraft Nationality Register maintained by the Danish Civil Aviation and Railway Authority Prefix: OY- Location: Europe Country Status: Unitary State and EU Member State

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: EASA

Typical Structure: If non-Danish owner, then on lease to a Danish registered company.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes, Cape Town mortgages. Local mortgage registration available only when aircraft does not qualify as Cape Town aircraft.

Restriction Governing Mortgage Law: No restriction

Priority Notice: None

Public Registration: Yes

Deregistration Power of Attorney: Yes, but it is not possible to register the Deregistration power of attorney with the Danish Aircraft Nationality Register and it will automatically be revoked in case of the grantor’s bankruptcy. IDERAs are available and survive grantor’s bankruptcy.

Cape Town: Yes, since February 1st 2016.

Estonia

Registry: Aircraft Register of the Estonian Transport Administration (TRAM) Prefix: ES- Location: Europe Country Status: Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: EASA

Typical Structure: For registration in the Estonian Aircraft Register, an application by the owner of aircraft or by a person authorised by the owner for the registration of aircraft together with the required documents shall be submitted to TRAM.

An aircraft will be entered in the Aircraft Register on the basis of an application if:

1) The owner or operator of the aircraft is an Estonian citizen, a person holding a long-term residence permit or the right of permanent residence in Estonia, a legal person registered in Estonia, a local authority or the Estonian state.

2) The aircraft has a permit to fly, a certificate of airworthiness issued in Estonia, or a certificate of airworthiness issued by the competent authority of another state and recognised in Estonia.

3) The type of aircraft is either certified based on airworthiness requirements recognised in Estonia or recognised by the TRAM.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Mortgage shall be governed by Estonian law.

Priority Notice: No

Public Registration: Yes

Deregistration Power of Attorney: Yes. (Not necessary for deregistration by the owner).

Cape Town: No.

Guernsey

Registry: 2-REG Guernsey Aircraft Registry Prefix: 2- Location: Guernsey, Europe Country Status: British Crown Dependency

Aircraft

Weight Restrictions: No maximum weight restriction. Minimum weight restriction is 750kg. For any aircraft under 5,700kgs, the owner must be natural or legal person resident in Guernsey (or register through a resident agent).

Maximum Age: An aircraft where its State of Design type certificate or any variation relevant to the type registered is established as being more than 50 years old, or its production stopped at least 25 years ago.

Aircraft Type Certificate: UK CAA, EASA, FAA, ANAC, Transport Canada

Typical Structure: Body corporate, registration by individuals and unincorporated bodies is also permitted.

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: No

Priority Notice: Yes

Public Registration: Yes

Deregistration Power of Attorney: Yes

Cape Town: Yes.

Hong Kong

Registry: The Civil Aviation Department (CAD) Prefix: B-H, B-K, B-L

Location: Asia Country Status: Special Administrative Region of the People’s Republic of China

Aircraft

Weight Restrictions: Any aircraft other than ‘small aircraft’ (ie. aircraft weighing not more than 7kg without its fuel) can be registered.

Maximum age restrictions: None, as long as a certificate of airworthiness in respect of the aircraft has been issued and is in force.

Aircraft type certificate: The CAD can issue type certificates subject to specific requirements. The CAD accepts and validates a certification approval granted by the Authority of the State of Design ‘as far as possible’. For aircraft type certificates issued by the EJAA, EASA or FAA, the director-general of the CAD accepts that they are comply with the basic requirements of the Hong Kong airworthiness standards.

Typical structure: Ownership through special purpose company. The persons entitled to hold a legal or beneficial interest in aircraft in Hong Kong comprise (i) the mainland Chinese government or the Hong Kong government; (ii) Chinese citizens; (iii) Hong Kong permanent residents; or (iv) bodies incorporated in Hong Kong or other parts of the People’s Republic of China and having their principal place of business in Hong Kong or in other parts of China.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Hong Kong does not maintain a register of aircraft mortgages or charges. Information about legal ownership, demise charter agreement, mortgages and charges are required at the time of registering the aircraft. If the mortgagor is (i) a company incorporated in Hong Kong or (ii) a company having a place of business in Hong Kong and, as a generally accepted principle, the aircraft is registered in Hong Kong, an aircraft mortgage must be registered with the Companies Registry, subject to specific conditions, under the new Companies Ordinance. If the mortgagor is an individual, the aircraft mortgage must be registered as a bill of sale under the Bills of Sale Ordinance.

Priority Notice: There is no register of aircraft mortgages in Hong Kong. Priority of aircraft mortgages will (i) be determined in accordance with the common law rules governing priority of mortgages and charges; (ii) depend on the type of mortgage, whether legal or equitable. Legal mortgages will have priority over earlier equitable encumbrances if the legal interest was acquired bona fide, for value and without notice of the previous equitable interests. Legal and equitable mortgages will rank inter se based on the order in which they were created.

Public Registration: There is no register of aircraft mortgages in Hong Kong.

Deregistration Power of Attorney: Deregistration powers of attorney are frequently issued but it is in the CAD’s discretion to decide whether an aircraft can be deregistered merely based on a deregistration power of attorney.

Cape Town: Not yet ratified.

Hungary

Registry: Hungarian Aircraft Registry (owner registry, registration of, among others, owner, operator and mortgage) Prefix: HA- Location: Europe Country Status: Republic; EU Member State

Aircraft

Weight Restrictions: N/A

Maximum Age: N/A

Aircraft Type Certificate: Required

Typical Structure: N/A.

Operation

Private Use: Yes. Leasing and maintenance service require separate licence.

Commercial Air Transport: Yes. Air Operator Certificate required. Leasing requires separate licence. Acquisition of aircraft used primarily in international transport may be exempt from VAT.

Finance

Mortgage Possible? Yes, mortgage is possible. Mortgage over airframe is registered in the Hungarian Aircraft Registry. Mortgage over engines is registered in the Hungarian Security Interest Register.

Restriction Governing Mortgage Law: Yes. Hungarian law shall govern to be recognised and enforced by Hungarian courts.

Priority Notice: No. Third parties rely on authentic registries as to priority ranking.

Public Registration: Yes. Required to perfect the mortgage.

Deregistration Power of Attorney: Yes. Common practice to file with the Hungarian Aviation Authority. Not registered.

Cape Town: No.

Indonesia

Registry: Owner registry Prefix: PK- Location: South East Asia Country Status: Republic

Aircraft

Weight Restrictions: None

Maximum Age: Yes, depending on aircraft categories

Aircraft category: Firstly registered and operated in Indonesia

Passenger transport maximum age: 20 years

Non-passenger transport: 25 years

Transport, and non-transport for cargo (freighter): According to aircraft flight hour and / or flight cycle according to manufacturer’s provision.

Helicopter: 25 years.

Aircraft category: In operation

Passenger transport maximum age: According to aircraft flight hour and/or flight cycle according to manufacturer’s provision.

Non-passenger transport: According to aircraft flight hour and/or flight cycle according to manufacturer’s provision.

Transport, and non-transport for cargo (freighter): According to aircraft flight hour and / or flight cycle according to manufacturer’s provision.

Helicopter: According to aircraft flight hour and/or flight cycle according to manufacturer’s provision.

Aircraft type certificate: Available. Prerequisite to issuance of Certificate of Airworthiness.

Typical structure: None.

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Aircraft mortgage is not applicable due to the absence of implementing regulation for the aircraft mortgage as required by the Aviation Law. Mortgage is possible only for other valuable parts of the aircraft, e.g. engine, by way of fiduciary security instrument.

Restriction Governing Mortgage Law: None

Priority Notice: None

Public Registration: None. Any information regarding registration must be put through the Directorate General of Civil Aviation as the registrar. The registry is maintained by them.

Deregistration Power of Attorney: Available as accorded by Irrevocable Deregistration and Export Request Authority (IDERA).

Cape Town: Ratified and enforceable in Indonesia since February 20th 2007 with Presidential Decree No. 8 of 2007.

Iran

Registry: Civil Aviation Organization (of Iran) (CAO) which is affiliated with Ministry of Roads & Transportation

Prefix: EP- Location: Asia Country Status: (Islamic) Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: Air Operation Certificate (AOC)

Typical Structure: Corporate.

Operation

Private Use: Yes. (Basically, ultra-light aircraft).

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes.

Restriction Governing Mortgage Law: No

Priority Notice: Yes, but this will need to be processed through courts of law with the CAO to be advised for more information and not a regulatory body.

Public Registration: Through the aircraft register maintained by CAO.

Deregistration Power of Attorney: Not mandatory

Cape Town: Yes.

Kenya

Registry: Kenya Civil Aviation Authority Prefix: 5Y- Location: Africa Country Status: Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: FAA, EASA, TCCA, ANAC, UK CAA

Typical Structure: Limited liability company.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: No

Priority Notice: Yes, if it has been registered under Cape Town.

Public Registration: Other than registration of international interests under Cape Town, Kenya does not have a dedicated register for aircraft mortgages. A mortgage may nonetheless be registered at the Companies Registry if created by a Kenyan company, but it is no longer mandatory for ensuring priority in view of Cape Town.

Deregistration Power of Attorney: Yes

Cape Town: Yes.

Latvia

Registry: The Civil Aviation Agency of Latvia (CAA) Prefix: YL- Location: Europe Country Status: Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: Fixed form certificate issued in a hard-copy paper form.

Typical Structure: Certificate contains, inter alia, data on nationality and registration marks, manufacturer and manufacturer’s designation of aircraft, aircraft serial number, aircraft owner, lessee, information on authority, and basis for issuance of certificate.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Latvian law (the Commercial Pledge Law) for aircraft registered in Latvia.

Priority Notice: Yes, priority can be set in the registered aircraft pledge (mortgage) based on the Commercial Pledge Law.

Public Registration: Yes, the commercial pledge record over aircraft is a public record.

Deregistration Power of Attorney: Yes

Cape Town: Latvia acceded to the Cape Town Convention and its Protocol on February 8th 2011; the Convention and its Protocol (Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment) entered into force with respect to Latvia on June 1st 2011.

Lithuania

Registry: Civil Aircraft Registry of the Republic of Lithuania Prefix: LY- Location: Europe Country Status: Republic

Aircraft

Weight Restrictions: No

Maximum Age: No

Aircraft Type Certificate: EASA

Typical Structure: UAB (i.e. LLC).

Operation

Private Use: Yes, subject to regulatory obligations

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: No

Priority Notice: Yes

Public Registration: Yes

Deregistration Power of Attorney: Yes (but not IDERA)

Cape Town: Not a signatory but covered by EU accession.

Malaysia

Registry: Civil Aviation Authority of Malaysia (CAAM) Prefix: 9M- Location: Asia Country Status: Sovereign State

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: CAAM may issue aircraft type certificate. It may also validate aircraft type certificate issued by FAA, EASA or any equivalent certifying authority familiar to CAAM.

Typical Structure: Owner based registry with non-citizen owned aircraft having to be leased to a citizen (individual or company) to qualify for registration with CAAM.

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: None

Priority Notice: Yes, with CAAM and the International Registry.

Public Registration: Yes, with CAAM and the International Registry.

Deregistration Power of Attorney: Yes, the deregistration power of attorney document must be duly stamped and registered with the Courts in Malaysia.

Cape Town: Yes.

Maldives

Registry: Maldives Civil Aviation Authority Prefix: CAA- Location: Asia Country Status: Unitary state

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: Foreign Type Certificates are accepted on validation.

Typical Structure: Natural or legal person.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: No

Priority Notice: None

Public Registration: Yes

Deregistration Power of Attorney: Yes

Cape Town: No.

Nepal

Registry: Civil Aviation Authority of Nepal Aircraft Register Prefix: 9N- Location: Asia Country Status: Independent Federal Democratic Republic

Aircraft

Weight Restrictions: None

Maximum Age:

For Import:

1) Pressurised aircraft – no more than 15 years or completed 75% of its design economic life or 45,000 pressurisation cycles, whichever is earlier.

2) Non-pressurised aircraft – no more than 20 years.

For operation:

Maximum age for operation is not specified. But operation of an aircraft that has reached more than half its economic design life shall depend upon the results of a structural integrity programme.

Aircraft Type Certificate:

(a) A type certificate issued by the EASA

(b) A type certificate issued by the FAA

(c) A type certificate accepted by EASA

(d) A type certificate accepted by FAA

(e) A type certificate issued by an ICAO Contracting State Authority other than above, if the Design Approval Holder of the product can effectively demonstrate to be equivalent to (a) or (b) above, to the satisfaction of the director general.

Typical Structure: Private or public limited company

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Mortgage shall have to be executed in accordance with Nepal law for any party to obtain legal remedy in Nepal.

Priority Notice: Yes

Public Registration: Yes

Deregistration Power of Attorney: Yes

Cape Town: No.

Pakistan

Registry: Pakistan Civil Aviation Authority Prefix: PCAA- Location: Asia Country Status: Islamic republic of Pakistan

Aircraft

Weight Restrictions: We understand from the PCAA that there is no aircraft restriction as such, provided that the relevant aircraft complies with the guidelines/manuals of its manufacturer.

Maximum Age: The aircraft age/life limits as per the National Aviation Policy 2019 and the Air Navigation Order ANO-019-AWRG-3.0 dated 28 July 2022 shall be as follows:

Regular Public Transport (RPT): calendar age of all aircraft, used as passenger transport for scheduled/non-scheduled passenger-carrying services, shall not be more than 18 years at the time of induction with minimum of 35% remaining operational life initially defined by the Original Equipment Manufacturer (OEM). The operational life expectancy shall be based on international standards considering limitations on maximum hours, flight cycles and chronological age etc. Operations would be permissible up to a maximum calendar age of 25 years.

Pressurised Non-RPT Pax: For charter passenger, Tourism Promotion and Regional Integration (TPRI), aerial work passenger and private aircraft operations, calendar age of all aircraft shall not be more than 18 years at the time of induction with minimum of 35% remaining operational life initially defined by OEM. Operations would be permissible up to a maximum calendar age / life cycles as defined by OEM subject to airworthiness.

RPT/Non-RPT Cargo: For freighter / cargo aircraft, minimum of 35% remaining operational life would be required as initially given by OEM at the time of induction. Operations would be permissible up to a maximum calendar age of 30 years subject to airworthiness.

Unpressurised CH (Pax.) AW & FS: For unpressurised aircraft being used for Charter (Pax.), aerial work and flying school operations, the calendar age at the time of induction shall not be more than 25 years; operations would be permissible up to a maximum calendar age as prescribed by the manufacturer of the aircraft provided the aircraft is airworthy.

Aircraft Type Certificate: Type certificate for aircraft below and above 5,700 kg manufactured outside Pakistan, are Federal Aviation Administration and European Union Aviation Safety Agency (EASA). Type certificate for an aircraft below 5,700 kg manufactured in Pakistan, is EASA 23 or FAR Part 23.

Typical Structure: Statutory Corporation – PCAA.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes, however registration and perfection of the mortgage in Pakistan will only take place if the aircraft is owned by the Pakistani operator. If the aircraft is owned by a foreign entity, then Pakistan law will recognise foreign mortgages created by such entities as international interests in accordance with the terms of the Cape Town Convention and Aircraft Protocol (Implementation) Rules, 2004 (Implementation Rules 2004).

Restriction Governing Mortgage Law: No

Priority Notice: If the mortgage is created by the Pakistani aircraft owner, the perfection of such mortgage will be done by relevant filing with the Securities and Exchange Commission of Pakistan which will also constitute public notice. Since Pakistan has ratified the Cape Town Convention and implemented it in domestic law by enactment of the Implementation Rules 2004, international interests duly created thereunder will be recognised in Pakistan.

Public Registration: Yes. See above

Deregistration Power of Attorney: Possible. Generally, an IDERA is lodged.

Cape Town: Yes.

Panama

Registry: Panama Prefix: HP- Location: Central America Country Status: Republic

Aircraft

Aircraft which may be registered in Panama include:

(a) Aircraft owned by the government of Panama.

(b) Aircraft involved in public transportation or carrying out remunerated aircraft operations which are owned or operated by Panamanian nationals, be they natural or juridical persons, legally authorised to operate.

(c) Aircraft involved in private operations which are owned or operated in Panama by Panamanian nationals or foreigners, be they natural or juridical persons.

There are two systems of aircraft registration in the Republic of Panama. The Civil Aeronautics Authority (Autoridad Aeronáutica Civil) maintains an administrative registry of aircraft in Panama by means of the National Aeronautical Registry. In addition, there is an aeronautical section at the Public Registry Office, wherein all matters concerning the juridical status of aircraft are registered; namely proof of ownership, leases and encumbrances on aircraft etc to make them effective against third parties.

Weight restrictions: Weight restrictions will depend on the aircraft capacity, fuel, flight.

Maximum age: Maximum age requirements are not specifically addressed. Proper maintenance is required.

Aircraft type certificate: Certificates such as those of the United States and European Union are recognised.

Typical structure: Not specifically addressed in our regulations.

Operation

Private Use: Private registration and use of aircraft is allowed, subject to obtaining the required operation certificates and permits from the Civil Aeronautics Authority.

Commercial Air Transport: Commercial air transport has nationality restrictions in terms of company ownership. A commercial exploitation permit for public air transport, issued by the Civil Aeronautics Authority, is required, as well as an operation certificate.

Finance

Mortgage Possible? Law No.21 of 2003 expressly contemplates the possibility of granting a mortgage over an aircraft as a whole or covering parts only its spare parts, and the Law on Mortgages on Movable Goods further allows the sale thereof with retention of title. Mortgages in respect of aircraft must be registered in the Aeronautical section of the Public Registry Office.

Restriction Governing Mortgage Law: There are no limits to the types of obligations that may be secured so long as these are lawful obligations, nor as to who may be a mortgagee.

Priority Notice: According to the Aeronautical Law, a credit secured by an aircraft mortgage will have priority over any other credit except for the national taxes that fall upon an aircraft.

Nonetheless, Panama has acceded to the 1948 Geneva Convention on International Recognition of Rights in Aircraft. This Convention imposes as compulsory liens the following:

(a) Indemnification for assistance to, or salvage of, the aircraft.

(b) Other expenses which are indispensable for the conservation of the aircraft. These liens have priority over all other liens or credits, including the aircraft mortgage.

Bearing in mind that ACC has the obligation to respect all international treaties and agreements to which Panama has acceded to, this clearly creates a conflict of laws which will have to be resolved by the Panamanian Judicial Branch once a case of this nature is presented.

Public Registration: A mortgage on an aircraft must be granted by public instrument in the Spanish language whenever the obligations secured are in excess of B./20,000.00 and must be registered at the Public Registry Office to affect third parties. Aircraft mortgages can also be filed at the National Aeronautical Registry. This filing, however, only serves as a notice to third parties. Thus, it will have no legal effects on the rights of the mortgagee. Apart from the registration of the mortgage as stated above no other registration or consents are required.

Deregistration Power of Attorney: Deregistration powers of attorney are available and effective in Panama.

Cape Town: Panama has also ratified the 2001 Cape Town Convention on International Interests in Mobile Equipment and its Protocols on Matters Specific to Aircraft Equipment, but with declarations under parts 39, 50, 53 and 54(2).

Papua New Guinea

Registry: Papua New Guinea Civil Aviation Safety Authority (PNG CASA) Prefix: P2- Location: South Pacific Country Status: Independent Sovereign State

Aircraft

Weight Restrictions: Code 4E (Boeing 747)

Maximum Age: None

Aircraft Type Certificate: Issued by PNG CASA upon application under Part 21 of the PNG Civil Aviation Rules. Certain FAA, EASA, TC, CAA-AUS, CAA-NZ and JCAB standards are recognised by applications granted to date.

Typical Structure: On- and offshore leveraged lease.

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: No restriction

Priority Notice: Yes

Public Registration: Yes

Deregistration Power of Attorney: Yes

Cape Town: No.

Romania

Registry: Romanian Civil Aircraft Register (“Romanian Unique Registration Register of Civil Aircraft”) Prefix: YR Location: Europe Country Status: Unitary state

Aircraft

Weight Restrictions: All civil aircraft must be registered in the Civil Aircraft Register held by the Civil Aeronautical Authority (CAA), with the exception of ultralight aircraft [1] with a maximum take-off weight up to 600 kg (depending on specific constructive type) and unmanned aircraft intended for ‘open’ and ‘specific’ operations, as defined in Commission Implementing Regulation (EU) 2019/947 of 24 May 2019, and for which European regulations do not require certification. Operational authorisation may be required depending on the weight and specifications of the unmanned aircraft.

[1] Starting with 1 January 2023, a new piece of legislation will enter into force, under which motorized ultralight aircrafts shall be subject to the obligation to obtain a registration certificate in order to be operated/used in Romanian airspace. The legal provisions regulating the exceptions to the registration of aircrafts, which are part of a separate enactment, are not currently correlated with the new piece of legislation, but it is likely that they shall be modified accordingly.

Maximum Age: None. Airworthiness conditions apply.

Aircraft Type Certificate: EASA

Typical Structure: Owner or lessee of aircraft must be a private individual domiciled or permanently residing in an EU-member state or a private entity headquartered in an EU-member state.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Mortgages (or equivalent security interests) are governed by the law of the country of aircraft registration.

Priority Notice: None. Rank of mortgage is primarily determined based on order of registration in the Register of Encumbrances held by the Romanian CAA. Same rule applies for facultative registration in the national database for registration of security interests (the National Registry of Publicity for Movable Property – RNPM).

Public Registration: Yes. Mortgages are registered in the Register of Encumbrances held by the Romanian CAA. Public registration in the National Registry of Publicity for Movable Property (RNPM) is also possible.

Deregistration Power of Attorney: Yes. However, if governed by Romanian law, the Deregistration Power of Attorney is revocable.

Cape Town: Yes.

South Korea

Registry: Civil Aircraft Register operated by the Office of Civil Aviation of the Ministry of Land, Infrastructure and Transport (MOLIT) Prefix: HL- Location: Asia Country Status: Democratic Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: The Ministry of Land, Infrastructure and Transport (MOLIT).

Typical Structure: Operator registry.

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Aircraft mortgage agreement must be governed by Korean law and registered in the Korean aircraft register.

Priority Notice: No

Public Registration: Yes

Deregistration Power of Attorney: No

Cape Town: No.

Sweden

Registry: Swedish Civil Aircraft Register Prefix: SE- Location: Europe

Country Status: Monarchy, member state of European Union

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: EASA

Typical Structure: Individual or corporate body is acceptable.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: None

Priority Notice: Yes

Public Registration: Yes

Deregistration Power of Attorney: Yes

Cape Town: Yes.

Switzerland

Registry: Swiss Aircraft Register maintained by the Swiss Federal Office of Civil Aviation (FOCA) Prefix: HB-

Location: Europe (Switzerland is not a member state of the European Union but member of EASA) Country Status: Confederation

Aircraft

Weight Restrictions: None

Maximum Age: None (but subject to airworthiness requirements)

Aircraft Type Certificate: EASA

Typical Structure: Swiss company or (subject to supply of aircraft to Swiss AOC operator) foreign company.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Swiss law (as a rule)

Priority Notice: Not available

Public Registration: Yes

Deregistration Power of Attorney: Yes (with qualifications)

Cape Town: No.

Turkey

Registry: Directorate General of Civil Aviation (DGCA) Civil Aircraft Registry Prefix: TC-

Location: Europe/Middle East Country Status: Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: EASA, FAA, TCCN or ANAC

Typical Structure: Turkish citizens and legal entities – the majority of shareholders and directors of an aircraft owner legal entity must be Turkish citizens. Foreign owned aircraft may also be registered if the Aircraft is on long term lease to a Turkish citizen or legal entity.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: Mortgage agreement has to be governed by Turkish law.

Priority Notice: None

Public Registration: In order to be valid and enforceable, an aircraft mortgage has to be registered with the Civil Aircraft registry.

Deregistration Power of Attorney (PoA): These are recognised and enforceable but a PoA cannot be irrevocable. However, an Irrevocable Deregistration and Export Request Authorization (IDERA)) cannot be revoked and will be recognised and enforced by the Civil Aircraft Registry.

Cape Town: Turkey has ratified Cape Town.

Ukraine

Registry: Civil Aircraft Register of Ukraine Prefix: UR-

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: A list of aircraft type certificates may be checked at SAA site https://avia.gov.ua/npd/typy-povitryanyh-suden-shvaleni-dlya-ekspluatatsiyi-v-ukrayini/

Typical Structure: There is no requirement for the typical structure. An aircraft leased by a Ukrainian carrier may be registered in the Registry. The Owner of the Aircraft or its lessor has no requirement to establish a local company. Aircraft registration under the lease contract does not create a taxable presence in Ukraine, neither for the owner nor for the lessor.

Refer to the website for the documents that must be submitted by the applicant that is usually a local lessee, to effect the registration of an aircraft in the Aircraft Registry.

Operation

Private Use: Yes

Commercial Air Transport: Yes

Finance

Mortgage Possible? Although the mortgage is used quite widely in Ukraine as a form of security, Ukrainian Law does not stipulate any particular type of mortgage for Aircraft. The Ukrainian law provides on possessory and non-possessory mortgages, while non-possessory aircraft mortgages are used in modern practice. The aircraft mortgage will automatically cover all accessories and spare parts unless it is expressly stipulated otherwise in the mortgage.

Restriction Governing Mortgage Law: The Ukrainian law on International Private Law, No.2709-IV dated June 22, 2005 (as amended) allows the parties to agree on any applicable law, including a foreign one, unless the aircraft is registered in Ukraine. The Ukrainian law shall govern the mortgage over registered in Ukraine aircraft. The mortgage over Ukrainian registered aircraft is valid if it is made in written and executed before a Ukrainian notary.

Priority Notice: The Law on Mortgage does not stipulate any cure period or obligation to submit a notification of the mortgagee’s default or register its notice of default in the Mortgage Registry. Nor does it lay down any requirements concerning the minimum content of the notice of default. Please refer to the website for more information.

Public Registration: A lien over an aircraft irrespective of whether the aircraft mortgage agreement is executed before the Ukrainian notary or abroad may be registered with the Mortgage Registry.

Deregistration Power of Attorney: The Ukrainian Aircraft Registry is held in the name of the owner. Correspondingly only the owner or its duly empowered representative may deregister the aircraft. Additionally, the lessor usually receives from a lessee an irrevocable deregistration power of attorney.

Cape Town: On November 1st 2012, the Convention on International Interests in Mobile Equipment (the Cape Town Convention) became effective for Ukraine. SAA was designated as an entry point for information related to registration of any security-type interests (created by or subject to security agreements, lease agreements, and title reservation agreements) relating to aircraft (the “International Interests”) or irrevocable deregistration authorisations (IDERAs) with the International Registry. Please see website for more details.

United States

Registry: Federal Aviation Administration Civil Aircraft Registry Prefix: N-

Location: North America Country Status: Constitutional Federal Republic

Aircraft

Weight Restrictions: None

Maximum Age: None

Aircraft Type Certificate: FAA

Typical Structure: Owner registry. Owner must be a US Citizen as defined in 49 USC 40102 (a) (15).

Operation

Private Use: Yes

Commercial Air Transport: Yes.

Finance

Mortgage Possible? Yes

Restriction Governing Mortgage Law: No, individual state laws govern.

Priority Notice: No, except for prospective interest registrations under the Cape Town Treaty.

Public Registration: Yes, Federal Aviation Administration

Deregistration Power of Attorney: Yes, if the Cape Town Treaty is applicable

Cape Town: Yes, with the Federal Aviation Administration as entry point to obtain a unique authorization code to allow registrations on the International Registry.