Mortgaging of Aircraft
When an aircraft is financed and there is an attached mortgage, the mortgage can be registered on the Cayman Islands Register of Aircraft Mortgages under The Civil Aviation Authority Law (2005 Revision) – The Mortgaging of Aircraft Regulations, 2015 (MAR).
Cape Town Convention and the International Register
After the UK ratification of Cape Town effective November 1, 2015 and its extension to the Cayman Islands, The Cayman Islands Government along with the Civil Aviation Authority of the Cayman Islands announced the enactment of The International Interests in Mobile Equipment (Cape Town Convention) Law, 2015, which brings the Cape Town Convention into force in the Cayman Islands effective 1 November 2015 and, consequently, the Cayman Islands will have international recognition under the Cape Town Convention.
Accordingly, relevant filings such as the Irrevocable Deregistration and Export Request Authorisation (IDERA) and the Consent to Deregister an aircraft from the Cayman Islands Aircraft Register, can now legally be filed with the Cayman Islands Aircraft Register under the Cape Town Protocol. Such filings are to be notarised and carry a fee of CI$250/US$304.88.
Filings on the International Register for a Cayman Islands registered aircraft should be done independently by interested parties. Further enquiries can be made to email@example.com.