Adhering to stringent safety protocols, the Cayman Islands Aircraft Registry has created a system to focus on the transition of aircraft between multiple jurisdictions
The Cayman Islands Aircraft Registry is the registry of choice for many owners, financiers, management companies, attorneys and other key decision makers. The Civil Aviation Authority of the Cayman Islands (CAACI), the custodian of the Registry, has a dedicated technical team that works with aircraft owners and operators on annual plans to ensure regulatory standards and timelines are met and where appropriate, flexibility and customised solutions afforded.
The Cayman Islands provides a credible, politically stable jurisdiction of choice for aircraft registration. As a leading, tax neutral, international financial centre the English legal system, (Privy Council in England being the jurisdiction’s final court of appeal) provides owners and financiers of aircraft certainty and confidence. The register has traditionally been deemed a “private” register, however, CAACI in conjunction with the CI Government and the Cayman Islands’ Special Economic Zone – Cayman Enterprise City (CEC) introduced an alternative means for compliance with the “Principal Place of Business” requirement to allow the grant of Air Operator’s Certificate (AOC) for certain commercial operations offshore. This collaboration markets the Cayman Islands to the global aviation industry, promoting its robust regulatory environment, neutral tax status, sound legal and finance systems and world-leading lifestyle, promoting it as the perfect domicile from which to operate a business aviation company.
Another focus of CAACI has been the creation of a Transition Register that enables aircraft to be transitioned between multiple jurisdictions in an expeditious manner whilst adhering to stringent safety protocols. To facilitate these activities, CAACI has established a project management system specifically for the Transition Register. This management system generates the need for close coordination between all the participants involved and regular liaison meetings are arranged to ensure the transition project remains active during the aircraft’s tenure on the registry and commensurate with the status of the lessors’ operational objective. Within the project management system, aircraft in storage are maintained at a standard that allows the aircraft to be easily transitioned to a new lessee and mitigates any last minute maintenance exercises, which is common in cases of aircraft in storage with very little or no maintenance arrangements.
In conjunction with the Transition Register, CAACI has developed a Service Level Agreement (SLA) that specifically establishes a clear list of the services and certifications offered under a fixed fee structure. This provides the lessor with confidence and pre-defined budgetary information often required by financiers and investors associated with aircraft assets.
CAACI’s online portal VP-C Online is a superb tool for aircraft management. It provides secure login accounts with access to all of the airworthiness/operational certifications of the various aircraft of a particular lessor registered in the Cayman Islands. In addition, VP-C Online is currently being enhanced to include a Lessor Module whereby a lessor can apply for a VP-C Online account, which allows for ready access to all of the airworthiness and operational certifications of the various aircraft on the registry concerned with that particular lessor.
CAACI remains committed to offering a personal, responsive and high quality service to their customers, and to finding innovative and efficient solutions to the needs of those they work with.