When I read articles or blogs online about GA flying in Europe I get the impression that it's not unusual for European GA pilots to have FAA licenses and fly N (US) registered aircraft.
I've never seen any numbers mentioned so I don't know how common this really is, whether they hold only FAA licenses or also European ones etc. But in general, as a European GA pilot, what is the benefit of operating an N-reg aircraft rather than a locally registered one?