We license each of our vehicles in the name of a New Mexico limited liability company. The address of the New Mexico LLC (shown on the registration) is a ghost address in Spain. If we are ever stopped by a traffic cop, the first item to be checked will be the license plate number, followed by whatever is clearly printed on the license plate frame.
In this case, the cop is made aware of the foreign reference, and will find it to be consistent with the registration. (If asked if I work for the company, I always answer, "No, I own it." I get no further questions about this.)
True, most states do not allow a foreign address, but the same principle applies. If your New Mexico LLC uses a ghost address up north, just have the plate say "Fairbanks, Alaska."
However, suppose you do not use a New Mexico LLC. Instead, you license your vehicle in your own name but with a ghost address elsewhere in your state For example, you live in San Diego but your driver's license lists a PO Box in Redding. Why not get a license plate frame that reads "Redding, California?"