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ARTICLE · 11 NOVEMBER 2013

International Ship Finance Through Ireland

Maples Group
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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.

IrelandTax
Andrew Quinn
Andrew Quinn
David Burke
David Burke
Nollaig Murphy
Nollaig Murphy
William Fogarty
William Fogarty
Sherice Arman
Sherice Arman
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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. Ireland can facilitate ship financing, leasing, debt structuring and securitisation transactions. It is therefore no surprise that in July 2013 a major investor submitted plans to build a shipping finance centre in Dublin's docklands.

Ireland offers a range of options to the sector.  A shipping company with strategic and commercial management in Ireland can elect to be taxed on the tonnage of its fleet rather than its profit. A shipping lessor can avail of the 12.5% tax rate and generous tax depreciation. In either case substantial and legitimate tax savings are achieved if the conditions are met. Perhaps more important in view of recent trends in ship finance is Ireland's structured finance

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