Can a foreigner own an N-Registered aircraft?
Yes, a foreigner can own an N-Registered aircraft. The general rule is that only US citizens and green card holders can own American registered aircraft. However, there are four exceptions to this rule:
1. Foreign corporation – if the aircraft will be flown at least 60% of its flight time in America it can be registered to a US corporation which is foreign owned provided that regular returns are filed with the FAA proving its flight time in America.
2. Owner Trust – If the aircraft is settled in trust with a US trustee it may be beneficially owned by a foreign person or company.
3. Voting Trust – If a US corporation is structured so that not less than two thirds of the Directors and Officers are US citizens and not less than 75% of the voting rights in the shares of the corporation are settled in trust then that corporation can be the registered owner of a US aircraft and may be owned by a foreigner.
4. The Aircraft is registered in a US corporation where two thirds of the Directors and Officers are US citizens and the President is a US citizen. In this case is the aircraft property of the corporation.