You make some valid points Ebbie but of course you are very close to the US mainland.
You also have the option of the Cayman Island register.
Fine if you have a corporate jet moving across continents.
Not so easy with a locally based 182 or Saratoga.
The point I am making is that Europe is a long way from the USA in terms of regulation.
We already have a lot of old former military helicopters and fixed wing ex Eastern European airframes exploiting the regulations.