Flag-of-convenience meaning

A foreign flag under which a merchant vessel is registered for purposes of reducing operating costs or avoiding government regulations.
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The flag of the foreign country in which a fishing vessel, tanker, etc. is registered, usually so as to avoid taxes, regulations, etc. in the home country of the vessel's owner.
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(figuratively) Registration of a ship in a country chosen for its low taxes, permissive regulations, and so on.
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(literally) The flag flown by a ship so registered (which flag then corresponds to the country of registration).
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