September 16, 2013 – Bati Newsletter
BATI Weekly Quotes:
Every great and commanding movement in the annals of the world is the triumph of enthusiasm. Nothing great was EVER achieved without it.
Starting September 16, 2013, the new policies with respect to Non-Citizen Trusts are in effect at the Civil Aircraft Registry in Oklahoma City. The manager of the Registry has gone on record to state that NO registrations under Non-Citizen Trusts will be made without an Aeronautical Center Counsel’s (AAC) opinion confirming that the trust documentation properly supports the registration of the aircraft to the Owner Trustee.
Prior to closings, the title companies and law firms in Oklahoma City will now supply the AAC complete copies of the documentation supporting an application for registration in the name of an owner trustee. This will add several days, if not weeks, to the registration process, but we feel it would be better to know before title passes and funds are exchanged whether the FAA will register to an owner trustee.
Those of you in the field who do not use Oklahoma City-based title professionals or special FAA counsel should make a note that the AAC opinion is one more closing document you should require before finalizing any transaction.
BATI FAA and IR UPDATE
New International Registry Fee Schedule:
|Fee Description||Fee (in U.S. Dollars)|
|User Set-Up Fee (1 year)||$200|
|Controlled Entity Set-Up Fee (1 year)||$180|
|Replacement Administrator Fee||$50|
|Spare Engine Registration Fee||$50|
|Priority Search Fee (per object)||$22|
|Entity Name Change Fee||$200|
|Lost Certificate Fee||$10|
A registration fee of $100 will be charged for all registrations initiated by the same party during a registration session relating to (i) one airframe and all engines regularly used thereon (or any subset thereof or any individual engine); or (ii) one helicopter. A registration session will last for 24 hours for the purposes of the registration fee. Spare engines are further engines beyond the number normally fitted to an airframe. Spare engines that are to be registered with an airframe during a single registration session will be subject to an additional spare engine fee of $50. The Transfer of a Right to Discharge is treated, for fee purposes, as a registration and can form part of a registration session. If performed separately it will incur the appropriate registration fee.
BATI Pot Pourri
We serve the happiest customers on the planet