Watch out vwhat JAA really is...
Hi zoom,
sorry for the late reply, I've been on the road for a while. Yup, essentially that is what would happen in Germany. BUT: understand what JAA license means: It means a license has a certain standard, and is mutually recognized by all member states without formalities. The way to obtain the license can differ slightly from state to state, and it does. These differences were filed with and approved by the JAA commitee when JAR FCL was introduced. So REALLY LOOK into where you want to convert, it needs NOT be the country that you plan to work in. I would go through the UK, since the conversion of FAA to JAA licenses is clearly set in the rules there (check out the online copy of LASORS) Having a tailored training programme set up will take quite a bit of time while the paperwork is done, but you will not get away with less hours. ( after all the FTO make their money with selling you hours...)
@Paul_K
the scenario you describe does not work. If you have a license from a JAA member state that is delivered according to JAR FCL, you need no validation, recognition or anything to work in another memberstate. What might happen is that you are talking about a NATIONAL license delivered in a JAA member state that is not delivered according to JAR FCL, but to their old national standards. In this case, the way to go is to convert the National License to a JAA License in the country where it was originally issued. That should not entail much more then an Air Law exam. With that new JAA license, you will be able to fly G-registered aircraft without any other formality.