Registrability of lease interests Aircraft
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How is the process to register a lease interest?
Lease interests can be recorded with the Public Registry. The lease agreement, evidence of the existence of lessee and lessor, and the corresponding corporate authorities must be translated into Spanish if executed in another language, and processed and filed with the Public Registry.
All documents executed abroad must be certified by a notary public. The notary must state that the signature is authentic and that, pursuant to sufficient evidence provided to him or her, the party signing is duly authorised to sign on behalf of the company. Thereafter, the signature of the notary must be certified according to the 1961 Hague Convention on the apostille or by a Panamanian consul in the place of issuance
Registration fees are US$100 for review by the Public Registry, plus US$1.50 for each US$1,000 or fraction thereof. Additionally, notarial fees in the amount of US$14 per page and translation fees based on the length of the document apply.
Aviation Finance & Leasing in Panama – Key Contact:
MarÃa de Lourdes Marengo (mmarengo@pmalawyers.com)
PATTON MORENO & ASVAT, the experienced legal guidance you can trust.
An extract of the Aviation Finance & Leasing Guide 2021, originally published by Getting the Deal Through / Lexology