Source: Date: Updated: |
TheBahamasInvestor.com
Wednesday, February 13, 2013 Wednesday, February 13, 2013 |
For the fourth time in less than a year, a senior attorney from The Bahamas will attend a major international conference on aviation.
Llewellyn Boyer-Cartwright, a partner at Callenders & Co law firm, will attend the conference in Malta March 4, his fourth following others in Washington, DC, Orlando and Aruba.
Boyer-Cartwright, a former commercial jet pilot and a senior lawyer, has long championed aviation in The Bahamas. In late 2012, the government convened an Aircraft Registry Consultative Committee, hoping to propel a movement first proposed by the Bahamas Financial Services Board (BFSB) in 1999.
“There are so many opportunities out there for business for The Bahamas if we establish a quality aircraft registry,” said Boyer-Cartwright. “Financing, legal services, appraisals, surveying, inspection, maintenance, repair, fueling, pilots, landing fees.”
According to Boyer-Cartwright, the business is hinged on two major factors–the ratification of the Cape Town Convention, a legal technicality that would bring The Bahamas in line with most of the rest of the world, which provides protection for third party rights, and the second factor, the removal of stamp duty on Bahamian-registered aircraft.
“We have the potential to create so many jobs, to contribute to financial services through aircraft financing, to build new industries and diversify the Bahamian economy,” said Boyer-Cartwright. “The income derived from establishment of a registry would far outweigh what is currently collected from stamp tax, which provides little to no income, because there are so few registered aircraft.”
Boyer-Cartwright said his goal at the Malta conference, which is themed Opportunities in Business Jets, is to forge relationships with leading regulators, including the Director of Civil Aviation of Malta and the Director of the Malta Aircraft Registry.
“I also want to get a better feel for the marketing,” he said. “If we do establish an international aircraft registry, we will need to understand very clearly how best to market The Bahamas in a way that appeals to owners of private jet aircraft.
“It is a booming industry and I just hope we move quickly enough to benefit from it before all our neighbours leapfrog over us. Guernsey in the Channel Islands is already jumping on board and will launch their aircraft registry in June 2013 and estimate that they will have 150 aircraft on their register by 2015. I have to trust that we will move with equal urgency and prudence.”