Although Luxembourg, as a land-locked country, has no direct access to the sea, its venture into the shipping sector has developed into a remarkable economic success. The financial sector expertise combined with attractive corporate, operational and tax structures allows for companies to take advantage of great opportunities in view of the globalisation of their businesses.

 

For example, the tax regime allows for accelerated depreciation and investment tax credits. Additionally, rather than a tonnage tax, standard corporation taxes apply, which for certain sectors can be quite advantageous. Innovative solutions are available to encourage investment and an independent “Maritime Cluster” organisation promotes the development of the maritime sector as well as its related services in Luxembourg. The diversified membership of the cluster allows ship owners and operators to benefit from existing expertise in various other fields like investment funds, asset management, securitisation, private equity, insurance, logistics etc.

 

So for both merchant and small commercial cruise ships, Luxembourg has the regulatory and financial expertise to make the most out of your investment. As of August 2009, some 196 vessels were recorded in the Luxembourg Maritime Register, among them ships from well known names like, Jan de Nul Group, Cobelfret, Socatra, Bourbon and Dredging International.