I’ve owned an N registered Piper Cherokee and kept it in Canada where my partner did all her Canadian licences on. The airplane can not be owned by a Canadian (US RULE) but a Canadian can own a US company (LLC) that owns the airplane. We set our company up in Montana as there is no sales tax so the airplane cost $5.00 to register with the FAA. $1200USD to set up the company, $140USD/year to maintain. Annuals done in either the US but now I have a US ÂME in Canada. As a Canadian wanting to fly the airplane in Canada you must pay the tax to CRA which we did at the border. CBSA don’t care what you do with the airplane they just want the tax. I know of the 90 day rule, but no one enforces it and it was never a problem. Now we’re selling our plane in the US and have a much bigger market to sell back into.
i know of another flight school in Canada doing the same thing and teaching multi-IFR on an “N” register. Transport Canada has no problem with it.