Ireland: Marine/ Shipping

With its favourable tax rules, tax treaty network and pool of skilled professionals and advisers, Ireland has long been an international hub for aircraft leasing. What is less appreciated is that those features also make Ireland an attractive location for shipping activity.

When does title in the ship pass from the shipbuilder to the shipowner?

Ireland boasts a very attractive tax regime for shipping operations known as the tonnage tax regime. It is designed to ensure that shipping businesses based in Ireland pay tax on a nominal profit which is based on the tonnage of a vessel as opposed to on actual profit generated by the business.