San Marino Aircraft Registry Touts Fiscal Benefits
The San Marino Aircraft Registry (Chalet B14) has announced that 63 Dubai-based aircraft have joined since its opening 11 months ago. The organization touts the confidentiality it guarantees to owners, as well as the fiscal flexibility as to which jurisdiction their taxes are attached to. Moreover, the San Marino “T7-” registration mark is said to be politically neutral.
In San Marino, fixed-wing aircraft heavier than 5,700 kg (12,550 pounds) are not subject to import duties or VAT. The claimed lead-time to register an aircraft, after airworthiness inspection, is one to two business days. Certificates and licenses are valid for three years.
The Republic of San Marino and the Italian government have recently signed an act under which some designated areas of the International Airport of Rimini-San Marino are entrusted to the state of San Marino for the next 40 years. The goal of the San Marino ministry of industry is thus the development of new projects in the entrusted areas. These could include an FBO terminal, a business jet maintenance center, a completion center, a cargo facility and hangars.
Separately, the republic is in the process of ratifying the Cape Town Convention on international interests in mobile equipment. This should be completed by April 30 next year.