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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 ship sails under a flag of convenience, it means it is operated or taxed under the laws of a country different from its home country in order to save money: They always register their ships 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 offer flags of convenience in order to gain income. An increasing part of the world's merchant fleet is operating under a flag of convenience, chiefly for financial reasons involving lower taxes and less stringent regulations.
(Definition of flag of convenience from the Cambridge Business English Dictionary © Cambridge University Press)
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