Why Choose The Bermuda Registry?
Bermuda’s Registry has earned a solid reputation internationally for being safe and well-regulated. Its significant growth is a reflection of Bermuda’s status as the jurisdiction of choice for aircraft registration, with excellent credibility, high regulatory standards and professional staff.
The BCAA accepts Type Certificates from the EASA, the FAA and Transport Canada. As a result, an aircraft from another registry can be registered in Bermuda with minimal inconvenience and expense, and if subsequently sold, it can be easily exported to another jurisdiction.
When international lenders finance an aircraft, the registration jurisdiction must be acceptable to them, yet suitably neutral for the operator. Bermuda is an attractive choice, with a mature legal system and significant infrastructure to provide leasing companies, lenders and operators assurance that their asset is protected.
In Bermuda, aircraft financiers can protect their interests through two mortgage registers - aircraft and aircraft engines. By registering a mortgage, aircraft financiers may obtain priority over unsecured creditors, take possession of aircraft in the event of a default by the owner or borrower and sell the aircraft to recover funds to satisfy the lender’s debt.
Operators of Bermuda private registered aircraft fully comply with ICAO Annex 6 Part II standards, ensuring their compliance with EASA third country operations requirements.
Airworthiness Inspectors are based in offices in Bermuda and the United Kingdom. This Airworthiness team is complemented by 20 Designated Airworthiness Inspectors who are strategically located throughout the world. In addition, BCAA has engaged Bureau Veritas (BV) for many years to conduct inspections and oversight on its behalf, from offices based in Moscow and Toulouse. Flight Operations Inspectors based in Bermuda are joined by seven Designated Flight Operations Inspectors in strategic locations worldwide.
Air operators have advised BCAA that leasing costs have been reduced under an Article 83 bis Agreement. In addition, air operators have obtained a higher residual value for the aircraft when they are resold.
Bermuda is essentially tax neutral. By registering aircraft in Bermuda, owners and operators may be in a position to take advantage of favourable tax treatment in their principal place of business.