It does mean it was registered in the States Kris, but as with certain aircraft, they have to be certified by the CAA/FAA/Other countries Aviation Authoritys before they can be allowed to fly there, its quite a regular thing to see a "N" registered aircraft in a country other than the states.
This has been copy'd from the C.A.A Website:
The following standards are based on the time taken from the receipt of all relevant documentation, to the despatch of the appropriate Certificate, or other item, by first class post. :-
ISSUE OF CERTIFICATE OF REGISTRATION OR CANCELLATION
New Aircraft, Restorations and Changes of Marks -up to 3 working days
Change of Registered Ownership and Other Register Amendments - up to 7 working days
Aircraft de-registered to other countries - up to 3 working days
Exemptions from Article 5 of the Air Navigation Order - up to 3 working days
Also
this Link might be of some use to you.
I'll also see if i can get some info from where i used to work about this.
nemo....