Information regarding the registration of a mortgage
and the fees.
A. In order to place a lien
(mortgage or security interest) on an aircraft, the aircraft must
become a registered property. To obtain this status the aircraft
needs to be registered in the public register at the Mortgage Office
in Aruba. Note that the Mortgage Register is not the Aircraft
Nationality Register at the Department of Civil Aviation (DCA). The aircraft as registered
property can become subject to real rights such as ownership,
mortgage, lease or conditional sale.
For the registration of an aircraft in the Mortgage Register in
Aruba, the following information and documentation is requiring:
Certificate of Registration of the aircraft (C of
R) issued by the DCA;
Declaration issued by the DCA of the aircraft
maximum weight (must be a minimum of 1,000 kg);
The bill of sale and purchase agreement of the
aircraft (must be submitted in original and in four counterparts)
Certificate of de-registration from its previous
aircraft nationality register. In case the aircraft has never been
registered, if necessary to submit the bill of sale and purchase agreements from the
manufacturer of the aircraft to the present owner (must be submitted
in original and in four counterparts).
B. The registration of an
aircraft mortgage or security interest in the public mortgage
register must be applied for at the court of First Instance of Aruba
and must be approved by a judge of said court.
C. For a mortgage or security
interest to be in effect, a mortgage deed needs to be passed in
front of a civil law notary and deposited with the mortgage
register. The mortgage deed will be based on the loan agreement and
/or promissory notes made between parties (must be submitted in
original).
In order to receive the documents mentioned in A1 and
A2; the aircraft needs to be registered with the DCA. Aircraft
Registration is completed through or has already been completed by
The Registry of Aruba/ Int’l Air Safety Office (Miami
Office). The registration of the aircraft must be done through a
special purpose company; Aruba Exempt Company (AEC/AVV), which will
become the owner of the aircraft or the holder based on a lease
agreement and is able to register the aircraft in the Aircraft
Nationality Register of Aruba kept at the Department of Civil Aviation (DCA)
in Aruba.
AMTR N.V. has a wealth of experience in assisting for
almost 15 years the clients of The Registry of
Aruba/Int’l Air Safety Office with the process for the
registration of aircraft mortgage or security interest, mortgages’ court
application and mortgage notary deed in the public mortgage register in
Aruba, and with the incorporation of the Aruba Except Company (AEC/AVV).
The estimated charges and other handling fees for the aircraft mortgage
or security interest registration process is: U$D 10,000. Civil law notary
fees and charges for the mortgage deed is based on the amount of the
mortgage or security interest. In order to provide you with the fees and
charges for the notary deed, it is necessary to know the amount of the
mortgage or security interest that will place on the aircraft.
AMTR N.V. can also assist you in Aruba with the
incorporation of the AEC/AVV Company, which is require for the
registration an aircraft in the Aircraft Nationality Register with the
Department of Civil Aviation (DCA). The estimates expenses, fees and
charges for the incorporation of the AEC/AVV Company, including AMTRs’
management fee for the first fiscal year is approximately U$D 4,000.
For any further information do not hesitate to contact AMTR N.V.
at +297 583.8166 or e-mail at
amtr@setarnet.aw attention Stanley Looman, Managing Director.
This document is construed for general information
only. The information presented should not be construed to be formal
legal advice.
