The deadline of April 8, 2015 under s. 12 numbers 4 of the 1178/2011 regulations in relation to art. 4 of Regulation 216/2008 have been extended to April 8, 2016 by a decision of the commission.
You can continue to fly N-registered airplanes without problems in Europe with your FAA certificate and instrument rating until April 8, 2016 regarding non-commercial flights.
The extension of the deadline of 8 April 2014 to 8 April 2016 is implemented through the regulation 245/2014 which will come into force shortly (see modification art. 12 (page 2 bottom right of the Rules 245_2014)).
For commercial flights, the 1178/2011 regulation applies today because no opt-out is not provided for by art. 12 number 4 of the 1178/2011 Regulation.
An easy conversion of CPL of third countries is not provided by the 1178/2011 law and no amendment is in sight on this.
Annex 3 of Regulation 1178/2011 allows you under certain conditions to validate your CPL for a limited time.
After the period of April 8, 2016, converting your IR will be possible with the conditions laid down in Regulation 245/2014 that will change soon in part 1178/2011 regulations.
There will be an opportunity to convert your FAA instrument rating to an “instrument flight route (EIR)" or "instrument flight qualification (IR)" EASA.
Herewith you will find a copy of 245/2014 regulation.
In your case, depending on the choice of converting your FAA certificate instrument rating, the following is relevant:
- Let FCL.825. i (instrument flight qualification on) (page 9 of the pdf attachment);
- An IR (A) figure 8 (instrument flight rating) (page 15 of the pdf attached) a.
Finally, pursuant to article 3 of Regulation 1178/2011 Conversely, aircraft registered in a third country and used by an operator established or residing outside the European Community, those pilots are not subject to EU law.
According the Swiss Legal Office; Federal Office of Civil Aviation (FOCA)
The most significant portion of this message says:
“According to art. 3 regulations 1178/2011 Pilots of aircraft, registered (N-reg.) in a third (not EU) country, are not subject to EU legislation if the aircraft is used by an operator established or residing outside the European Community.”
This exception only applies if the company effectively acts (operates) as an aircraft operator in planning flights and paying taxes with its own funds.
That the pilot is even a European citizen has no influence.
More information is provided in this link