Bermuda’s Parliament has now enacted the Bermuda International Interests in Mobile Equipment (Cape Town Convention) Act 2016, thereby incorporating the Cape Town Convention into local Bermuda law.
This means that the United Kingdom is now in a position to extend the application of the Cape Town Convention to Bermuda, and it is anticipated that such extension will take place in the fourth quarter of 2016. The Convention has already been extended to the Cayman Islands.
This development is intended to make Bermuda increasingly attractive, and competitive, as a jurisdiction for aircraft registration and aircraft finance transactions.
For more discussion of the Cape Town Convention, and some of the advantages associated with its extension to Bermuda, see: