Young Fisher Scheme

This scheme is open to individuals, or legal entities wholly owned by one or more individuals: Who are each under 40 years of age at the time of application. Who each has worked for at least 5 years as a fisher and is fully qualified to operate the vessel being purchased. Who is tax resident in Ireland, and has the right to live in Ireland.

There is a grant aid cap of €250,000. Scheme aid intensity will be 40% of the cost of vessel acquisition, proportionate to the applicant’s shareholding in the vessel. The calculation of the grant aid will involve 3 steps: Apply the 40% grant aid rate to the total eligible expenditure. Multiply this amount by the percentage of the vessel that the applicant will own. If this amount exceeds the grant aid cap, apply the cap. Otherwise, the amount calculated in step 2 will be the amount offered to the applicant.

Acquiring ownership, in full or in part (at least 33%), of your first fishing vessel. The eligible expenditure covers the vessel cost and licence/capacity costs, proportionate to the applicant’s vessel shareholding. The vessel must: Have a length overall (LOA) of less than 24 metres; Be equipped for sea fishing; Have been registered in the Union fleet register for at least five years (three in the case of SSCF) and less than thirty calendar years preceding the year of submission of the application for support; Belong to a DCF fleet segment that is identified as balanced in the most recent Irish Fleet Annual Report submitted to the European Commission (at present all segments are reported as in balance).