Ireland is rated amongst the most attractive and efficient locations in Europe and an excellent choice for shipping services - an English speaking, neutral country with a vibrant economy, a highly efficient low cost telecommunication service, a productive and flexible workforce and low tax rates.
The new Irish Tonnage Tax regime, combined with the double taxation agreements the Irish State has signed with all major trading partners, offers the shipping industry the most competitive business environment within the EU/EEA. There are significant tax efficiencies to be gained by operating ships in international trade from a base in Ireland. The Irish flag does not require Irish nationals on board - STCW qualified officers are sufficient. The regime also offers greater flexibility in terms of the ways companies can arrange finance for vessels.
Maritime Management's mission is to provide the services that will allow shipowners and investors to benefit from these efficiencies and is engaged in all phases from Feasibility to Finance to Building to Operation.
Many Shipowners and Charterers no longer accept flags of convenience. There are a number of reasons for this:
1) Changes in internal corporate governance policy that requires a higher ethical standard and an end to indirect support of corrupt or dictatorship states.
2) The oil majors’ requirement, in post-Enron and 9/11 environment, for financial and ownership transparency that materialises through the demands of a quality flag.
To relocate to Ireland also makes commercial sense. By carrying the Irish flag and/or joining the tonnage tax regime you will signal to your clients and other stakeholders that you have a quality operation and ships of the highest standard. Financially, it will provide a distinct distance to offshore accounts and tax havens and fully accredit your business according to EU / US standards. This has a strong marketing value and provides a stronger motivation for sea and shore staff.