Young Fisher Scheme

Who is Eligible

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.

*A legal entity is a company or partnership that has a bank account in its name

What is funded

Eligible expenditure:

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).
• On payment, the vessel must be registered in the Irish Register of Fishing Boats
• There is a grant aid cap of €250,000
• Only one application can be made for any one vessel.

Ineligible expenditure:

• Only vessels registered and purchased from within the EU are eligible for grant aid. Vessels imported from any third countries (including the UK) are not eligible for grant aid under the scheme
• Gear cost
• Where the transfer of ownership occurs within the same family up to the second degree.

Amounts Granted

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:

1. Apply the 40% grant aid rate to the total eligible expenditure.
2. Multiply this amount by the percentage of the vessel that the applicant will own.
3. 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.

Public meeting demo

	Applicant public session
Meeting ID	392 147 003 098 0
Passcode	K6Jq29Nd
Dates	25 June – 3pm 02 July – 3pm 09 July – 3pm
Link