The Civil Aviation Authority of the Cayman Islands (CAACI) is back at the NBAA show looking to promote the growing popularity of the offshore aircraft registry. Joining officials at the authority’s exhibit this week in Orlando (Booth 3612) will be financial and legal experts from Cayman-based law firm Maples & Calder, as well as Aviation Management Services (Cayman).

Aircraft owners registering their assets in the Cayman Islands can benefit from the Caribbean nation’s tax-neutral environment. This can include operational savings such as access to tax-free fuel under an initiative developed in November 2015.

Apart from a favorable tax regime, the UK overseas territory promises a combination of a straightforward, streamlined approach to bureaucracy (including its VP-C online electronic document management system) with a solid legal foundation based on English common law and a commitment to privacy. The declared average timeline for an aircraft registration is six to eight weeks, and CAACI will send its aircraft inspectors to an owner’s home base. Aircraft mortgage registration can be processed within 24 hours.

Operators of Cayman-registered aircraft are exempt from some waiver authorization requirements of the U.S. Transportation Security Administration. This gives greater operational flexibility, as the process normally requires applications for flights to the U.S. to be made five to seven business days in advance. Business aircraft have to be registered purely for private use and carry tail numbers beginning VP-C.