Rate
40% of the vessel cost, by your share
BIM says the scheme aims "to encourage younger fishers to enter balanced fleet segments through the purchase of their first vessel." The grant counts the boat and its licence or capacity.
Quick facts
- Rate
- 40% of the vessel cost, by your share
- Cap
- €250,000 per applicant
- Who
- Each owner under 40, five years fishing
- Vessel
- Under 24 metres, bought within the EU
- Closes
- 5pm, 13 January 2027
- Apply
- BIM Grants Portal
Who can get it — the full rules
The scheme is for people, or companies and partnerships wholly owned by people, who meet three tests. "The scheme is open to individuals, or legal entities* wholly owned by one or more individuals: Who are each under 40 years of age;"
Each owner must also have worked as a fisher for five years. "Who each has worked for at least five years as a fisher and is fully qualified to operate the vessel being purchased; and" You must also be "tax resident in Ireland, and has the right to live in Ireland."
It is for your first boat, and you must buy at least a third of it. BIM funds "Acquiring ownership, in full or in part (at least 33%), of an applicant’s first fishing vessel."
Which boats qualify
The vessel must be under 24 metres long. "Have a length overall (LOA) of less than 24 metres;"
There is an age window for the boat itself. It must "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; and"
Where you buy it from matters. "Vessels imported from any third countries (including the UK) are not eligible for grant aid under this scheme." A boat bought within the same family, up to the second degree, is also listed as ineligible.
How much it pays
"Scheme aid intensity will be 40% of the cost of vessel acquisition, proportionate to the applicant’s shareholding in the vessel." The cost counted is the boat plus its licence or capacity.
In BIM's first example, a fisher buys a whole vessel: "A grant of 40% on €200,000 is €80,000". In another, a 50% share of a bigger boat works out higher than the cap, so "the amount offered would be €250,000".
How to apply
Check you and the boat both qualify
Each owner must be under 40 with five years fishing, and the boat under 24 metres.
Join a BIM information session online
BIM runs online drop-in sessions on Microsoft Teams for applicants and agents, with the next on 28 October and 25 November.
Read the Guidelines for Applicants
BIM's guidelines explain the application process step by step.
Apply on the BIM Grants Portal
The form works on any device, but BIM advises using a desktop or laptop.
Get your application in before the deadline
The current call closes at 5pm on 13 January 2027.
Register the boat in Ireland before payment
On payment, the vessel must be on the Irish Register of Fishing Boats.
Things to watch
Only one application can be made for any one vessel. If you are buying with partners, the grant is worked out on your share only.
A boat from Scotland, Northern Ireland or anywhere else in the UK does not qualify, because "Only vessels registered and purchased from within the EU are eligible for grant aid."
Phone, forms and how long it takes
- Apply online (BIM Grants Portal), by 5pm 13 January 2027
- BIM Grants Portal
From the official pages (bim.ie), re-checked every night. Numbers and times can change, so check the official page before you send anything.
Common questions
What is the BIM young fisherman grant?
It is BIM's Young Fisher Scheme. It may pay 40% of the cost of your first fishing vessel, in line with your share, up to €250,000.
When does the Young Fisher Scheme close?
The current call opened on 30 September 2026 and closes at 5pm on 13 January 2027.
Can I buy a boat from the UK with the grant?
No. Vessels imported from third countries, including the UK, are not eligible.
Can I buy a share of a boat with older partners?
Yes, if you buy at least 33%. The grant is 40% of the cost multiplied by your share, then capped at €250,000.