I hope I've posted in the right section!
I've heard good things about Southern Aircraft Consulting, are there any other good companies to consider that will register an N reg experimental for a non US citizen? Can i keep a N reg aircraft in Canada, any thoughts or limitations anyone knows of?
Gafunflier
I am with SAC and have been since 2005.
They have never given me any problems, and have been very good when some disorganised airport "lost" my landing fee payment and sent an invoice to them...
A couple of years ago I went to an FAA lawyer's presentation where the subject of trusts was raised. At the time there were rumours going round that the FAA wants to stop the trust option, but the FAA lawyer said they are entirely happy with it and merely want to stop trusts which are set up to conceal the identity of the trustor (the "beneficial owner" in UK-speak).
They specifically said to me that SAC is well known to them and they work together closely.
I am also with SAC since 2007, find them very good ,also competitive price. Rob
I was with SAC, I found them very helpful. I moved 18 months ago to IAS, who again I find very helpful, but more cost effective. One other small point was that my name appears on the trust with IAS, where it did not with SAC.
I was with SAC since 1999 until 5 months ago when I sold my aircraft. My name was on the trust and I never had a problem and where there was (French airfield refused to collect landing fees then sent an invoice + penalty for not paying) it was dealt with no complains. When my aircraft was sold the help and advice that was given to me was first rate.
Ben
I have mine in a private trust and it is specific to me and my aircraft. I do not know the details of the SAC scheme but the area I would want to understand is whether the actions of any other aircraft/pilot in the scheme can have an impact on me. Say another aircraft was involved in an incident where a legal action followed and the trustee was found liable and huge sums were awarded against the Trustee. Would my aircraft be considered to be an asset of the trust? I know several people that use SAC and most are happy with the arrangement they have.
It's a good question.
My understanding, having spoken to a top man at the top UK insurer about this, is that the only real risk is that of the trustee dying.
Then you can't fly, or sell the aircraft.
And that has happened, when Warren Chmura died a few years ago in a car crash. I did ask him some years previously what would happen if he died and he said his brother would take over, and this I believe is what happened, within a few days. I can't find it right now but the firm posted an explanatory message on some pilot forums at the time.
Obviously, most pilots didn't even know about the very sad event.
I just used Avcorp who were excellent.
My understanding is that the reason the more "upmarket" hardware is done with the Delaware trusts is that these are set up so the beneficial owner (a non-US citizen) holds 25%, while some US citizens (lawyers) hold the other 75%.
That meets the FAA requirement for a 75% or bigger US shareholding.
There is no chance of all the lawyers dropping dead and if one does they just replace him.
In 2005 I was offered such an arrangement for about £1500. It may have been Avcorp, or a very similar name (there are several round). Southern Aircraft charge a fraction of that.
What do Avcorp charge these days?
About 800 a year with a similar setup cost in year 1. But it is in a dedicated trust company and I have reasons why I wanted that.
