From Longman Business Dictionaryflag of convenienceˌflag of conˈvenience noun (plural flags of convenience) [countable]TRANSPORT the national flag of certain countries which are willing to REGISTER a ship owned by someone who is a citizen of another country. Owners sometimes register their ships in one of these countries in order to avoid paying heavy taxes in their own country and because they can apply lower safety standards and rates of payFishing trawlers sailing under a flag of convenience can ignore their home countries’ conservation agreements.
