I owned an N registered airplane while training to fly in Canada. Had to set up an LLC company that actually owned the airplane. Set it up in Montana as there is zero sales tax and it cost me $5.00 to register the plane. When I flew it into Canada customs kicked me out until I paid the GST then I was good to keep the plane in Canada and do a Canadian license. Best part of having a N registered airplane was when it was time to sell it I had a much bigger market. Also didn’t need to deal with Transport Canadas mechanical issues to convert it to a C register.