GREECE Law and Practice Contributed by: Betty Smyrniou, Bahas, Gramatidis & Partners
2.3.4 Registration of Leases With the Domestic Aircraft Registry A lease (and a lessor’s interest therein) must be filed in the domestic aircraft registry – otherwise, registration of the aircraft is not completed. For the registration of an aircraft, the lease must be submitted by the operator for filing with the HCAA along with certain other documents, including: • deregistration from the previous registry; • proof of paid nominal duties; • an original or certified copy of the executed lease with signature authentication, or notarised and apostilled if executed abroad; • proof of signatories’ authority, such as notarised and apostilled powers of attorney; • corporate documents; • a resolution of lease approval by the lessee; • a Certificate of Airworthiness (CoA); and • an insurance certificate. Registration can be completed fairly quickly, depend - ing on the airworthiness of the aircraft. Generally, no government applications or consents are required prior to the execution and delivery of an aircraft and/or engine lease for an aircraft registered in Greece. 2.3.5 Requirements for a Lease to Be Valid and Registrable For a lease to be registered in the Greek aircraft reg - ister, it does not require translation, but it must be executed with the signatures authenticated by a com - petent Greek authority, or notarised and apostilled if executed abroad. 2.3.6 Taxes/Duties Payable for Registering a Lease The fees payable to the aircraft registration for regis - tering a lease are nominal. 2.3.7 Registration of Aircraft in Alternative Countries There are instances where aircraft habitually based in Greece are registered in other jurisdictions such as Malta, in line with the application of Article 83bis of
the Convention on International Aviation (the “Chicago Convention”). 2.3.8 Requirements for Documents Concerning Registration For an aircraft registration to be accepted and pro - cessed, the Greek aircraft register necessitates the filing of original executed documents or certified cop - ies from a lawyer. Translations from English are not required by the Greek register. 2.4 Lessor’s Liabilities 2.4.1 Tax Requirements for a Foreign Lessor Upon leasing an aircraft or engine to a Greek lessee, a foreign lessor is not obligated to pay any income tax or capital gains. Withholding tax may be due, subject to the provisions of double taxation treaties. The withholding tax should be paid (retained) by the lessee. The lease agreement may provide that the lessee is under obligation to pay lease rental net of any Greek taxes, including any withholding tax. Gross-up provi - sions are recognised. 2.4.2 Effects of Leasing on the Residence of a Foreign Lessor A foreign lessor cannot be deemed to be resident or domiciled in Greece simply as a result of its being a party to, or its enforcement of, the lease. 2.4.3 Engine Maintenance and Operations Liabilities in respect of aircraft or engine maintenance and operations may not generally be imposed on a foreign lessor under a lease as a result of its being a party to such lease. 2.4.4 Damage or Loss Caused by an Asset If the lessor is also the owner of the aircraft, the les - sor as the owner would be fully liable for damages to third parties caused by the aircraft’s use while in flight. Here, “damages” refer to those affecting the property and personal safety of any third party, such as crew members and passengers of other aircraft, and indi - viduals on land or at sea. The owner’s liability extends up to the value of the aircraft. The limits of liability
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