First Business Jet Manufacturer Visits Malta

April, 4th July 2008, Malta International Airport. Malta is fast gaining ground in the business aviation scene. Late in 2007, the first JAR-OPS AOC was issued for a company which will operate a Lear 60XR in Moscow. Last Friday, we experienced another first in this niche industry. Embraer, a Brasilian aircraft manufacturer, through the Executive Aircraft arm, landed in Malta with a Legacy 600. In collaboration with Sierra Aviation the aircraft was shown to a number of businessmen residing in Malta, both local and foreign. Christophe Fantapie, regional sales director for Embraer Executive Jets, stated that he definitely sees Malta's potential as very competitive institution where one could register, operate or manage a business jet. In view of Malta's now world renowned yacth register and Malta's maritime history, Embraer also sees the potential to showcase its executive aircraft. The existing Legacy 600, shortly the lighter Phenom 300 and Phenom 100 which will be released to service this year and next respectivley, Embraer offers high end business jets at very competitive prices, also banking on its experience as an aircraft constructor. Embraer boasts of a 99.98% dispatch reliability on its Legacy 600. A record which is second to none. Although Embraer, is expected to launch small mid size jet at EBACE in Geneva this year, once Embraer has demo aircraft of available in Europe for either of its Phenom line, Malta is sure to be on the agenda.

Malta, Fiscal Incentives, Business Aviation and Embraer

Malta a country with a population of just under 400,000, with one of the lowest GDP's in Europe surely cannot be a huge market for business jet aircraft? Here is the surprising part, Malta joined the EU in 2004 and the Eurozone in January 2008, and in the last weekend of March it has become also a Schengen Country. I here you say, "So?". Malta has a unique tax infrastructure approved by the EU whereby, anyone could take tax residence at very interesting fiscal incentives not only for individuals but also for organisations. A foreign individual who takes tax residence in Malta, is taxed at 15% on the income brought into Malta, whilst 0rganisatons who set up a real office in Malta, although still attract a corporate tax of 35%, the foreign shareholders are refunded 30% of the tax within 20 days. Malta is the first EU country to licence online gaming companies and has one of Europe's largest Super Yacth registry. Combine all of that with a legal framewaork based on British and European laws, English is not a second language but an official legal language together with Maltese, and the let's not forget the 300 days of sunshine all year round, Malta has seen a huge influx of high net worth individuals, organisations and foreign investment. Sierra Aviation, had forseen this potential back in 2002, and became the first company and is still todate the only company which is dedicated to business aviation. As the number of these individuals and organisations grow, and as Malta's profile through its EU connection continues to come to the forefront the more such people will travel to the island of Malta and call it home. Embraer is the first manufacturer to recognise this and will on the 4th April demo its flagship aircraft the Legacy 600 at Malta International airport. If you happen to be in Malta and are in the market for a new business jet contact Sierra Aviation for an appointment.

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