Not entirely the full story. This all depends on where exactly you decide to take your JAR-FCL. You see, like all things European, the meaning is more in the translation than in the intent.
An ICAO type rating that includes (amongst other things) 500 hours on type, can be transferred to a JAR-FCL with the resctriction that it is valid on non-JAA registered aircraft only. What good is that you say? Well, it means that all you will need is a JAA LPC with any TRI/E and the rating becomes fully JAA valid.
I know, I did it! But then again I hold a European licence.
