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Boyer-Cartwright: Bahamas Moves Closer, Eagerly Awaits Bid Selection, Launch

LBC red tie at desk

Callenders Partner Says Aruba Easing Restrictions, Expanding Offerings to Boost Business; UK Moving towards Ratification of the Cape Town Convention. 

Two countries are making advancements in its aviation sector which make it easier and more attractive to do business, according to a local aviation law expert.

Llewellyn Boyer-Cartwright, the leading proponent of The Bahamas establishing an international aircraft registry. Boyer-Cartwright is concerned that while The Bahamas is moving in the right direction, competition is getting stronger. Other jurisdictions are aggressively marketing its registries.

“The Bahamas is making good progress toward the establishment of an international aircraft registry, however the momentum has slowed somewhat” said Boyer-Cartwright, a partner at the law firm of Callenders & Co. where he specializes in real estate and Aviation Law. “The study committee completed its work, requests for tender went out, and proposals for the feasibility of establishing a world competitive registry have been received which we trust the government is reviewing. We have every reason to believe that things are moving in the right direction.”

Aruba has enacted new aircraft registration regulations to accommodate the demands of the the rapidly expanding aviation industry.

There is evidence that the U.K. is inching closer to signing the Cape Town Convention, further enticing aircraft owners, lessors, insurers and financiers to remain registry loyal, says the man who flown B737s for Bahamasair and B727s for Laker Airways and who is also type-rated on the B747 before turning to law some 20 years ago.

More recently, Boyer-Cartwright has been leading the charge for a registry he says will be a huge economic boost to the country. Fees from the registry itself are nominal, he said, but an International registry will be an added bonus to the array of financial service products allowing The Bahamas to rank among the most desirable of full-service offshore financial jurisdictions. The registry could be headquartered in Nassau with satellite offices in London and Hong Kong in the Bahamas Maritime Authority alongside the Bahamas Ship Registry and Yacht Registry.

“High net worth individuals who have mobile assets, including a private jet and a megayacht and who choose to live in any one of the desirable gated communities in New Providence or even on a private island do not want to have to do business in multiple jurisdictions which is more costly and less efficient.” said Boyer-Cartwright. “And by satisfying the needs of the high net worth individual or that company considering The Bahamas, we are then providing all sorts of opportunities for Bahamian entrepreneurs in new businesses.”

The country’s ship registry is the fourth largest in the world and Boyer-Cartwright believes the aircraft registry can be modeled after it, accepting only new aircrafts or aircraft that are less than 15 years old thereby avoiding the undesirable reputation of being regarded as a mere flag of convenience.

“We want the Bahamas International Aircraft Registry to operate with the same world-respected standards as the ship registry that attracts the finest tonnage such as Disney, Carnival and Holland America,” said Boyer-Cartwright. “Orders for new aircraft have never been greater and this is our opportunity to develop an industry that has major benefits for so many young Bahamians.”

Posted on February 26th, 2014