I'm a British citizen but I hold an FAA PPL. Am I allowed to fly a European registered aircraft in Europe?
You can at the moment as there is an exemption until April 2014. After then you can only fly N registered aircraft in Europe on an FAA license. You can probably extend the deadline by another year by asking for a validation from April 2014, this will last until April 2015.The further problem to this is there will be few N registered aircraft in Europe by then as if they live in Europe, they will have to be re-registered or removed from Europe. As far as PPL's are concerned, I doubt if there will be much difficulty in transferring to EASA, unless you have a medical problem of course. You would then have to consider either the NPPL in the UK, or the E LAPL for the whole of Europe.