Frequently Asked Questions

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Frequently Asked Questions

Why engage Charterhouse Lombard Limited?

Charterhouse Lombard Limited is a reputable and established Corporate Service Provider based in the Isle of Man. It is licensed by the Isle of Man Financial Supervision Commission to provide Corporate and Trust Services to its international clientele. As a licensed entity, Charterhouse Lombard is regulated and must comply with the Isle of Man Financial Services Act 2008 as interpreted by the Isle of Man Financial Services Authority (FSA) Rule Book and Guidelines. The FSA conducts supervisory and focus visits, typically on an annual basis. In these visits, Charterhouse Lombard must demonstrate to the regulator that it has complied with the Rule Book and failure to comply will result in the removal of its licence.

All key staff are professionally qualified in their field of expertise. As such, Charterhouse Lombard’s employees are Chartered Accountants, Society of Trust and Estate Practitioners, Chartered Security and Investment Institute Members and Chartered Secretaries. In addition, they possess many years experience in serving this niche market.

The Isle of Man has a reputation for being a well regulated financial centre and has maintained its Standard and Poor’s AAA rating in 2010, despite the global economic recession. In addition the Isle of Man now appears alongside major nations such as the United States of America, United Kingdom, France and Germany in the OECD’s White List. The island benefits from an advanced telecommunications infrastructure including mobile 3.5G, 100% home broadband coverage at speeds of up to 16Mbps and five diverse high speed fibre links off-island, linking all major international data hubs. With a high reliance on telecommunications to manage its administration efficiently, Charterhouse Lombard benefits from this world-class infrastructure and offers unrivalled services to its clients.

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What jurisdiction is best for my requirements?

This depends on your personal circumstances and the activities of the structure to be incorporated.

Charterhouse Lombard Limited can incorporate and manage companies in many international jurisdictions including the Isle of Man, Jersey, Guernsey, Seychelles, British Virgin Islands, Gibraltar, United Kingdom, Bahamas, Dubai, Ras Al Khaimah as well as many others. Information sheets for popular jurisdictions can be downloaded from this site. For details of other jurisdictions available please contact us.

We also establish Isle of Man Trusts and Panamanian Private Foundations.

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What can a company, foundation or trust be used for?

Companies are typically used for investment and asset holding such as property, aircraft and yachts. They can also be used for consultancy work and are popular with international contractors engaged on foreign assignments.

Foundations and trusts can be used to protect assets, inheritance planning and for charitable purposes.

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How long does it take to incorporate a company?

This largely depends on the chosen jurisdiction. As a guide, a company will normally be incorporated in 1-2 weeks and a foundation within the same period. A trust can be established within 2-3 days.

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To what extent do you provide management services?

Charterhouse Lombard Limited can provide directors who will control the management and day-to-day affairs of the company, a company secretary who is responsible for the statutory filings of the company and nominee shareholders. Full trustee and foundation council services are also provided using our in-house corporate entities.

We also offer full bespoke management services such as invoice raising, execution of payments, providing bank account signatories, holding and documenting minutes of the directors meetings, holding shareholders’ meetings, holding Annual General Meetings and maintaining the companies under management in good standing at all times.

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Which banks do you work with and can you arrange corporate financing?

We work closely with major UK banks such as Barclays, Royal Bank of Scotland, National Westminster, HSBC and Lloyds TSB.

We also deal with Anglo Irish, AIB, Standard Bank, Credit Suisse, ABN Amro, Handelsbanken and Fairbairn Private Bank.

Financing can be arranged for property or asset purchasing with our panel of bankers. Please note however that the final decision in respect of the lending facilities remain with the bank concerned. Please contact us for more details.

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Does Charterhouse Lombard Limited provide tax advice?

Charterhouse Lombard is not licensed or authorised to provide any tax advice. We can arrange for our clients to receive specific tax advice from an independent professional advisor.

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Can you look after the financial aspects of the entities under management?

Yes. Our team of accountants can take responsibility for the preparation of accounts, tax returns, VAT applications and returns, registration and management of Non-Resident Landlord Schemes and credit control. Other accountancy services can be requested.

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What do I do next?

Please contact us either by email (link email to enquiries@charterhouselombard.com) or by calling us at our offices:

• Isle of Man +44 (0) 1624 817494 (Monday to Friday, 9am to 5pm)
• London +44 (0) 207 623 4501 (Monday to Friday, 9am to 5pm)
• Dubai +971 (0) 4 332 6318 (Sunday to Thursday, 9am to 5pm)

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How long does it take to register an aircraft in the Isle of Man?

Registration can be completed very quickly, in some cases within 6 hours.

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What aircraft can be registered and is there a minimum take-off weight?

The Isle of Man Aircraft Registry can only register private or corporate jets and twin turbine helicopters with a take-off weight of 5,700 kgs or over.

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Does the aircraft need to come to the Isle of Man in order to be registered?

No, registration can take place with the aircraft standing anywhere in the world.

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Can the aircraft be owned by anyone in any jurisdiction?

No, the aircraft must be owned by either an individual or company of the Commonwealth or EEA state. There are advantages if the aircraft is owned by a company and we would be happy to discuss these with you further.

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Can an existing aircraft transfer its registration to the Isle of Man?

Yes, as long as the aircraft meets the Aircraft Registry’s requirements.

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What registration letters will appear on the aircraft?

All Isle of Man aircraft are prefixed with the letter M followed by 4 letters. This gives a wide choice including endless personalisation possibilities such as M-AGIC, M-ICKY or M-ONTY.

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What documentation/licenses will be issued once the aircraft is registered and the survey complete?

A pack containing all the necessary documentation will be provided once the aircraft is registered including:

Certificate of Registration
Certificate of Airworthiness (valid for one year)
Noise Certificate
Airspace Approvals (valid for three years)
RVSM including operating manual (if required)
MNPS including operating manual
RNAV including operating manual
Cat II/Cat III Approaches (operating manual required)
London City Airport Steep Approach Airspace Approval (Registry Publication 18)
Aircraft Radio Licence (valid for one year)
Flight Crew Licence Validations (valid for one year)
Maintenance Programme Approval document

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Can an aircraft transfer its registration from the Isle of Man?

Yes, and de-registration can be completed very quickly one particular case took only 15 minutes.

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What experience does the Isle of Man have in aircraft registration?

The Isle of Man Aircraft Registry started on 1 May 2007 and is headed up by Brian Johnson who has worked for more than 10 years in the flight operations inspectorate of the UK Civil Aviation Authority. Latterly he was Head Flight Operations Inspectorate - Aeroplanes, based at Gatwick, and also acted as the UK Safety Assessment Coordinator - Foreign Aircraft Programme, for the UK Department for Transport. Brian is widely considered to be a “true gentleman” of the aircraft industry. The Aircraft Registry also operate to high regulatory standards similar to the CAA although with some notable differences that allow it to offer a customer friendly service.

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How many aircraft have been registered?

At the end of 2009 there were 200 aircraft registered on the Isle of Man aircraft register.

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What is the largest aircraft registered?

The largest aircraft registered so far is an Airbus A340 which is used as a corporate aircraft.

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What details are available to the public regarding aircraft registered in the Isle of Man?

The registration mark, the date registered, the aircraft manufacturer, the aircraft type, the serial number, the Mode S code, the registered owner, any previous registration mark, the date the aircraft was de-registered and the new state of registry.

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