Paradoxical as it seems for a land-locked country with no direct sea access, Luxembourg’s venture into the shipping sector is a remarkable success story. By combining financial expertise with attractive corporate, operational and tax structures, companies can develop new international opportunities.
The tax regime, for example, underpins accelerated depreciation and investment tax credits while regular corporate taxes at competitive rates replace tonnage tax. An independent “Maritime Cluster” organisation enables ship owners and operators of both merchant and small commercial cruise ships to benefit from existing expertise in other fields such as investment funds, asset management, securitisation, private equity, insurance, and logistics.
As of 2015, some 227 vessels were recorded in the Luxembourg Maritime Register, among them ships from well-known companies, including Jan de Nul Group, Cobelfret, Socatra, Bourbon and Dredging International.