The Corporate Transparency Act (CTA) requires certain legal entities to identify their individual Beneficial Owners on a report filed electronically with the U.S. Department of the Treasury's Financial Crimes Enforcement...more
10/3/2024
/ Aircraft ,
Anti-Money Laundering ,
Aviation Industry ,
Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Domestic Corporations ,
Filing Deadlines ,
FinCEN ,
Foreign Corporations ,
Limited Liability Company (LLC) ,
Personal Information ,
Reporting Requirements ,
Statutory Trusts
Differences in law as well as cultural differences can prolong international aircraft transactions. Assembling a good team of legal and technical professionals, as well as an aircraft broker familiar with international...more
9/29/2023
/ Aircraft ,
Aviation Industry ,
Contract Terms ,
Cross-Border Transactions ,
Due Diligence ,
Exports ,
Federal Aviation Administration (FAA) ,
Imports ,
Know Your Customers ,
Letters of Intent ,
Purchase Agreement ,
Regulatory Requirements
The Corporate Transparency Act (CTA), enacted by Congress as part of the Anti-Money Laundering Act of 2020, for the first time under federal law, requires the establishment of a centralized, national beneficial ownership...more
9/6/2023
/ Aircraft ,
Anti-Money Laundering ,
Aviation Industry ,
Beneficial Owner ,
Corporate Crimes ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
Money Laundering ,
Reporting Requirements ,
Shell Corporations ,
Special Purpose Vehicles ,
Tax Fraud ,
Terrorism Funding
Update: This Holland & Knight alert has been updated on Sept. 25, 2022, with additional information. In plain English, anytime an aircraft departs the United States, this is an "export" and will fall in one of two "buckets":...more
9/27/2022
/ Aircraft ,
Aircraft Sales ,
Aviation Industry ,
Customs and Border Protection ,
Electronic Filing ,
Export Controls ,
Exports ,
Federal Aviation Administration (FAA) ,
Filing Requirements ,
Foreign Entities ,
Registration Requirement
Please note: This Holland & Knight alert has been updated on Sept. 13, 2021, with additional information.
In plain English, anytime an aircraft departs the United States, this is an "export" and will fall in one of two...more
9/14/2021
/ Aircraft ,
Aircraft Sales ,
Aviation Industry ,
Bureau of Industry and Security (BIS) ,
Customs and Border Protection ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exporters ,
Exports ,
Federal Aviation Administration (FAA) ,
Filing Requirements ,
ITAR
There are two common types of aircraft exports: 1) permanent exports – where the aircraft is physically exported (i.e., flown) from the U.S. as part of a sale, lease or transfer of possession and control to a foreign person,...more
2/23/2021
/ Aircraft ,
Aircraft Sales ,
Aviation Industry ,
Bureau of Industry and Security (BIS) ,
Customs and Border Protection ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exporters ,
Exports ,
Filing Requirements ,
ITAR
In late January 2020, Airbus agreed to pay nearly $4 billion and to take a number of remedial measures in order to resolve alleged corruption violations with the French National Financial Prosecutor's Office (PNF), the United...more
2/27/2020
/ Airbus ,
Airlines ,
Anti-Corruption ,
Aviation Industry ,
Bribery ,
Brokers ,
Chief Compliance Officers ,
Compliance ,
Consultants ,
Corporate Counsel ,
Corruption ,
Counterparties ,
Department of Justice (DOJ) ,
Enforcement Authority ,
Export Credit Agency (ECA) ,
Financial Institutions ,
Foreign Corrupt Practices Act (FCPA) ,
France ,
Government Investigations ,
Sales Commissions ,
Serious Fraud Office (SFO) ,
Settlement ,
Third-Party Risk ,
UK ,
UK Bribery Act ,
US Department of State
• Family offices are increasingly involved in structuring and managing the ownership or use of private aircrafts for business and personal travel.
• The optimal structure will vary depending on a number of factors,...more
3/14/2019
/ Aircraft ,
Aircraft Equipment ,
Aviation Industry ,
Excise Tax ,
Family Offices ,
Federal Aviation Administration (FAA) ,
Personal Property ,
Property Tax ,
State and Local Government ,
Succession Planning ,
Tax Liability ,
Tax Planning ,
Timeshare Arrangement
On May 8, President Trump announced that the United States is withdrawing from the multilateral nuclear accord with Iran known as the Joint Comprehensive Plan of Action (JCPOA). The U.S. will reimpose sanctions suspended...more
5/11/2018
/ Aircraft Sales ,
Aviation Industry ,
Cross-Border Transactions ,
Economic Sanctions ,
Exports ,
Foreign Banks ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
Foreign Relations ,
Foreign Subsidiaries ,
General Licenses ,
Iran ,
Joint Comprehensive Plan of Action (JCPOA) ,
Lessor ,
Manufacturers ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Trump Administration
The management, operation and maintenance of a business aircraft is a complex and expensive undertaking. Although some aircraft owners may be able to hire experienced pilots and mechanics, a good charter-manager brings...more