The government of the Grand Duchy of Luxembourg has drafted a regulation that allows for lowering ship registration duties. The duties will be calculated based on the vessel’s tonnage, during the first registration in the jurisdiction.
The Luxembourg government hopes to boost the competitiveness of jurisdiction’s ship registry by making first registration and renewal fees even.
Currently, if a ship is to be registered in the Grand Duchy of Luxembourg ship registry, it must be less than 15 years old, used for commercial shipping and have a tonnage of 25 tonnes minimum.
An exception to the age limit may be granted if the ship has gone through significant design changes applicable to the new ships.