Non-citizen ownership trusts

[Mark Albery]

Since moving to the US, I've been suffering RV withdrawal symptoms, which I feel the need to address before too long.

One of the snags however, as a non-permanent resident (H1B visa) is that I need a US citizen or corporation trust to 'own' any aircraft that I want to buy.

Does anyone have experience of setting up these trusts and any recommendations for where to go to get one?

One more thing, what is my position regarding 'use tax' (CA) if I buy and operate an aircraft here.

Thanks,

Mark

[Firstlight]

Hi Mark:

Your airplane can be owned by a non-citizen corporation. For a reference, have a look at the records for N1478. The owner of this airplane is a foreign corporation registered to do business in the state of NY.

Don't give up on the joys of flying, just because you were born in the wrong country. I spent six years living in the US, and it would have killed me to stop flying.

Cheers,

Wayne BK

[penguin]

Mark,

Its relatively straight forward to use a company (not a trust) - of which you are the President (and only stock holder) - known to the FAA as a non citizen corporation. Best to register the company not in the state you are resident in, and there are some advantages in regfisterying in a state that you think you might not ever visut. I wasin Texas and registered in Maryland. Best to use an attorney to set up the company and make your yearly tax return, you will also have to file a 6 monthly return with the FAA to ensure you fly the majority of the hours (I think 60%) in the US - the FAA sends out the form. If you're interested I might be able to find the name & address of the attorney I used (ex USAF pilot so knew about airplanes).

The disadvantage of finding a friend to register it is that everything has to be in his name (insurance, etc), so he has some liability. If you ever prang the cheque will also be in his name!

Although a company will cost you $500+ per year I thought it wasn't a bad way to go.

Pete