Dotting the i's and crossing the t's on EASA FCL for Third Country
I thought the basic regulation and FCL 1 talked about the residency of the aircraft operator.
So, if Ringo55 incorporates as "Ringo Flying Services LLC", registered in Nevada, (or Delaware or another US state that doesn't eat your 6-O'Clock out when you start a business), with the spam can as one of the assets, then, as long as the directors of "Ringo Flying Services LLC" determine where and when the aircraft flies, FCL1 doesn't apply.
So if Ringo's Czech friend (Mr. Jaromír Užitečný) has current FAA papers, and he is exercising Ringo's spam can at Ringo Flying Services's request/permission, even Mr. Užitečný doesn't need EASA papers.
Btw, if he did, then all Delta pilots resident in Europe would need EASA papers, which would cause a bit of a stir at ICAO and WTO level...
If the plane is going to stay in the EU for a period longer than X (6 ?) months, it needs to be imported and VAT on it is due. Don't have Mr Užitečný fly into France without proper VAT papers if you value your aircraft and/or Mr Užitečný's friendship.
The ones who are screwed by this regulation are small EU operators that rented out N-reg planes as a business. They can theoretically operate with an non-EU subsidiary operating the aircraft, but then all kinds of tax complications prop up, depending on the EU country (vive la différence !).