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Meaning of “flag of convenience” in the English Dictionary

"flag of convenience" in British English

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flag of conveniencenoun [C usually singular]

uk   /ˌflæɡ əv kənˈviː.ni.əns/  us   /ˌflæɡ əv kənˈviː.ni.əns/ UK
If a ​shipsails under a ​flag of ​convenience, it ​means it is ​operated or ​taxed under the ​laws of a ​country different from ​itshomecountry in ​order to ​savemoney: They always ​registertheirships under a ​flag of ​convenience.
(Definition of flag of convenience from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"flag of convenience" in Business English

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flag of conveniencenoun [C]

uk   us   (plural flags of convenience)
COMMERCE, TRANSPORT the ​flag of a country that will register a ​ship (= ​list it as a ​ship of that country) that is ​owned by someone from another country: Even some landlocked countries ​offerflags of ​convenience in ​order to ​gainincome. An ​increasingpart of the world's ​merchantfleet is ​operating under a ​flag of ​convenience, chiefly for ​financial reasons involving ​lowertaxes and less ​stringentregulations.
(Definition of flag of convenience from the Cambridge Business English Dictionary © Cambridge University Press)
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