Aircraft purchase advice for foreigner

[NadJ747]

Hi all,

Jolly foreigner here. I'm a European ATP and jet jockey but also have an FAA PPL. Fortune has favored the brave. My investments have returned good (crypto). I am looking for the most financially savvy way of purchasing an N reg aircraft. I have no intention of ever flying it outside of the US. I have no experience of purchase or ownership and understand I have a long road ahead of me and need to consult with people who know the game to avoid any risk. That is all to come. However, as preparation I need to position myself for a purchase in terms of legal entities or structures to facilitate the ownership and operation of the aircraft. Anyone here have any experience of helping foreigners purchase aircraft with emphasis on good legal structures or know of anyone who specializes in this?

Current aircraft of interest are both the Cessna 340 and Piper Aerostar with a budget of $250-300k.

Feel free to PM/DM me.

All the best

 

[Sac Arrow]

As far as I know, there are no restrictions on foreigners owning US property and/or US businesses, so the discussions on personal vs. business entity aircraft ownership would equally apply to you. In my own opinion forming a corporation or LLC to own the aircraft is more hassle than it is worth unless you plan on using it in the course of business, which you probably aren't doing as a PPL.

Assuming of course you aren't a citizen of a sanctioned country, in which case the rules might be a little different.

 

[Wheels]

As far as I know, there are no restrictions on foreigners owning US property and/or US businesses, so the discussions on personal vs. business entity aircraft ownership would equally apply to you. In my own opinion forming a corporation or LLC to own the aircraft is more hassle than it is worth unless you plan on using it in the course of business, which you probably aren't doing as a PPL.

Assuming of course you aren't a citizen of a sanctioned country, in which case the rules might be a little different.

It looks like it would depend on if the OP is a legal permanent resident of the U.S. or not.

§44102. Registration requirements​

(a) Eligibility.-An aircraft may be registered under section 44103 of this title only when the aircraft is-

(1) not registered under the laws of a foreign country and is owned by-

(A) a citizen of the United States;

(B) an individual citizen of a foreign country lawfully admitted for permanent residence in the United States; or

(C) a corporation not a citizen of the United States when the corporation is organized and doing business under the laws of the United States or a State, and the aircraft is based and primarily used in the United States; or


(2) an aircraft of-

(A) the United States Government; or

(B) a State, the District of Columbia, a territory or possession of the United States, or a political subdivision of a State, territory, or possession.

 

[Bell206]

Anyone here have any experience of helping foreigners purchase aircraft with emphasis on good legal structures or know of anyone who specializes in this?

If you cannot meet the US citizenship requirements for ownership of a N reg aircraft you'll need to go through an Ownership Trust. There are a number of them, each with their own process. There are also a number of FAA guidance references available on this, but each Ownership Trust is a private entity. Good luck.

These are 2 trust companies that I have seen used in the past, but have no direct personal experience with:
https://agcorp.com/
https://www.valiair.com/