This is a bit like renting a car.
You don’t know or care where the likes of Hertz,Sixt,Eurocar etc are based for tax or other reasons.
Everything is fine until it all goes wrong.
Trusts,limited companies etc all provide separation to allow the person who might be carrying the can to avoid liability.
However if there are people in the middle not wise enough to think about the bigger picture they can lose everything.
As I said earlier there are some complicated legal cases on the horizon in this one and
the matter of the FAA register,the CAA regulator , trusts and insurance companies are going to be a key issue.