How to Articles

Should You Renew the Entity on the International Registry (IR)?

By January 15, 2019 December 31st, 2019 No Comments
International Registry

Do I need to Renew My Entity’s International Registry Registration

 

You received notice that your entity’s registration is expiring on the International Registry (IR).  The IR is also known as the Cape Town Registry, International Aircraft Registry, Aircraft Registry and IR.  Do you need to renew?

How to Evaluate Whether to Renew an Entity’s IR Registration

 

First, evaluate whether you have entered into any agreements, such as loan agreements, with covenants that require your entity to remain active on the IR during the term of the financing.  You want to avoid inadvertently violating the terms of your aircraft loan agreements.  If you are unsure of the answer to this question then the best action is generally to renew the entity on the IR so your status remains active.

Second, determine if any upcoming events require your status to be active on the IR.  These may include the purchase or sale of an aircraft, new financing or leasing an aircraft.

You can Renew/Revive an Entity’s IR Registration in the Future

 

Next, if you have determined that no financing documents require the entity to remain active on the IR and you have no pending events that require IR registration then you can simply not re-renew your entity’s IR registration. Fortunately, you may renew/revive your entity on the IR at any time.  If you decide to renew at a later time, please note to start the process a few weeks ahead of time to ensure the entity registration is active prior to the closing date of your transaction. Delays in obtaining proper registrations with the IR could result in a delayed closing.

Melissa K. Gowin is a Senior Legal Assistant with the aviation law firm of Jetstream Aviation Law, P.A. and assists attorneys, clients and escrow agents in coordinating documentation for complex aircraft purchase, sale and financing transactions.  Jetstream Aviation Law can be found at www.Jetstreamlaw.com.  

Sign Up for Jetstream Newsletter

Marketing Permissions
Jetstream Aviation Law, P.A. will use the information you provide through your subscription to provide updates and marketing. Please let us know all the ways you would like to hear from us:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.
We use MailChimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to MailChimp for processing. Learn more about MailChimp's privacy practices here.