Walkers and the Civil Aviation Authority of the Cayman Islands ("CAACI") recently discussed the frequently asked questions in connection with the CAACI's new expanded transitional aircraft registration offering.
Here are our top 5 FAQs from the recording:
- Who can register transitional
aircraft with the CAACI?
The registered owner of an aircraft must be a "Qualified Person" which includes (i) a Cayman incorporated entity, (ii) an entity incorporated in any part of the Commonwealth and which has its registered office or principal place of business in any part of the Commonwealth or (iii) an entity formed in accordance with the law of an European Economic Area ("EEA") state and which has its registered office, central administration or principal place of business within the EEA.
- How are costs determined for
transitional registration of aircraft with the
A Service Level Agreement ('SLA") between the applicant and the CAACI outlines the fee structure. The associated services offered in this SLA will cater for vast majority of transition projects. Fees are determined on a case by case basis where a SLA is developed between the CAACI (in collaboration with an agreed Continued Airworthiness Management Organisation ("CAMO") with whom the CAACI work closely) and the applicant based on the specific requirements of the applicant. Some of the relevant factors in determining cost include the aircraft type, how many aircraft are involved in the project, the length of the project and the certifications required while the aircraft is on the Cayman register.
- Can the registration process
be completed online?
Yes, using the CAACI VP-C Online portal which can be accessed at https://www.vp-conline.com. Provision of all required 'Know Your Customer' information in respect of the applicant as well as payment of registration costs can be completed online. The CAMO assigned for the aircraft and the applicant will be granted login access.
- How long will review of a
registration application typically take?
If the applicant has indicated that the required registration of the aircraft is imminent, the CAACI team will give the registration application priority but generally the application can be handled within 2-3 days.
- What arrangements are
required for the storage of aircraft and how long could an aircraft
remain in storage?
The aircraft will be technically managed by the assigned CAMO and the CAACI will have active oversight during the storage period working with the CAMO in preparation for the issuance of an Export Certificate of Airworthiness.
The SLA has been adapted to cater for a 12 month period without any additional fees in light of the current market conditions. All projects are intended to be actively managed for transition and such time periods remain under review.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.