Skud,
Sad reality is that a lot of foreign private airplanes are either registered in the US or in a “Tax heaven”. Small tax heavens are often too small to have a TC or FAA type of authority so they will only issue a license based on an FAA licence. I did my FAA ATPL a few years back, never did work abroad but it did bring a few short terms contracts my way. As far as I am concern, it was worth doing it and I am even looking into a JAA license. One can never have too many tricks up ones sleeve in this business.
D