Flags of Convenience (FOC) 1
Flags of Convenience (FOC) 1 : The registration of ships in a country that offer favourable tax structures and regulations; also the flag representing the nation under whose jurisdiction a ship is registered. Ships are always registered under the laws of one nation but are not always required to establish their home location in that country. FOC states often offer low tax rates and their requirements concerning manning or maintenance are not stringent. The term always denotes registration of vessels in foreign nations
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