- flag of convenience
- In international maritime practice, the registering of a ship in a country other than the ship’s country of origin. A flag of convenience tends to be used to simplify administrative requirements, or to avoid or minimize taxation and regulatory responsibilities.
Auditor's dictionary. 2014.
Look at other dictionaries:
flag of convenience — ˌflag of conˈvenience noun flags of convenience PLURALFORM [countable] TRANSPORT the national flag of certain countries which are willing to register a ship owned by someone who is a citizen of another country. Owners sometimes register their… … Financial and business terms
flag of convenience — n. the flag of the foreign country in which a fishing vessel, tanker, etc. is registered, usually so as to avoid taxes, regulations, etc. in the home country of the vessel s owner … English World dictionary
Flag of convenience — This article is about merchant shipping. For the general business strategy, see Flag of convenience (business). The MOL Pride, owned and operated by the Japanese company Mitsui O.S.K. Lines, flying the flag of Liberia. The term … Wikipedia
flag of convenience — registry of a merchant ship under a foreign flag in order to compete with ships of foreign nations must operate under a flag of convenience or go out of business Walter Hamshar * * * ˌflag of conˈvenience [flag of convenience] noun a flag of a… … Useful english dictionary
flag of convenience — If a ship, boat or yacht sails under a flag of convenience, it is registered in a foreign country in order to avoid regulations and taxes, and reduce operating costs … English Idioms & idiomatic expressions
flag of convenience — The national flag of a small country, such as Panama, Liberia, Honduras, or Costa Rica, flown by a ship that is registered in one of these countries, although the ship is owned by a national of another country. The practice of registering ships… … Big dictionary of business and management
flag of convenience — noun a) Registration of a ship in a country chosen for its low taxes, permissive regulations, and so on. b) The flag flown by a ship so registered (which flag then corresponds to the country of registration) … Wiktionary
flag of convenience — Date: 1956 registry of a merchant ship under a foreign flag in order to profit from less restrictive regulations … New Collegiate Dictionary
flag of convenience — the foreign flag under which merchant ships register in order to save on taxes or wages, or to avoid government regulations. [1955 60] * * * … Universalium
flag of convenience — noun a flag of a country under which a ship is registered in order to avoid financial charges or restrictive regulations in the owner s country … English new terms dictionary