ARTICLE · 25 AUGUST 2022

Aviation: Finance & Leasing Guide 2022

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The Cayman Islands currently have no form of income, corporate or capital gains tax and no estate duty, inheritance tax or gift tax. Stamp duty may be payable on documents executed in, or brought to, the Cayman Islands...

Cayman IslandsTransport

Alexandra Franklin

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1 . AIR CRAFT AND ENGINE PURCHASE AND SALE

1.1 Sales Agreements

1.1.1 Taxes/Duties Payable Upon Execution of the Sales Agreement

The Cayman Islands currently have no form of income, corporate or capital gains tax and no estate duty, inheritance tax or gift tax. Stamp duty may be payable on documents executed in, or brought to, the Cayman Islands or put before the Grand Court of the Cayman Islands (the Cayman Court).

1.1.2 Enforceability Against Domestic Parties

There is no formal legal requirement under Cayman Islands law that a sale agreement must be translated, certified, notarised or legalised to be valid or enforceable.

1.2 Transfer of Ownership

1.2.1 Transferring Title

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