ICAO vs FAA
Hi,
It has to do with the country that you will be dealing with...Let's say that your boss owns a brand new BBJ and wants to have it registered in Bermuda, the Bahamas or some other tax haven. In order for you to fly his plane you would have to get a license validation from that country. If you hold the type rating it is pretty much a done deal. These countries will issue validation on just about every ICAO, JAA or FAA license.
Same goes for the Middle East or Asia but you will have to write some exams to complete the conversion. (Air law and so on)
Remember the FAA is NOT part of the ICAO so when you see someone asking for an ICAO license the FAA doesn't count. Also, an ICAO license doesn't exist by itself-it comes from a country like Canada-Australia (ICAO members)
Last but not least ANY country will validate ANY license based on economics. If companies are loosing money because of a pilot shortage then the goverment will allow for validations to take place.
Supply and demand.