i would suggest that EVERYONE who is considering a UL ppl should change their minds and get an FAA licence .
Not a very wise suggestion given the imminent arrival of the very much more protectionist restrictions of EASA Part-FCL under which a licence issued under ICAO Annex 1 may be validated only for up to one year. The validation may be renewed only once and only provided that the holder is undergoing training for the issue of a Part-FCL licence.
...when in Europe you cannot operate IFR on this licence...
Not quite - you cannot operate IFR
in controlled airspace on a licence rendered valid under Article 62(2).