This article examines migrant workers’ experiences of state-constructed vulnerability to labour exploitation, through the case study of non-European Economic Area (EEA) migrant fishers in Ireland. It draws on the findings of interviews with 24 migrant fishers, together with information obtained from public bodies and legal analysis. Building on the work of Mantouvalou, Zou, and others, we demonstrate that the Irish legal and policy framework – most importantly, immigration law – places migrant fishers in a position of ‘hyper-dependency’ and ‘hyper-precarity’ in their work relations. We outline how this state-constructed vulnerability to labour exploitation is experienced in practice through an in-depth account of the interviewees’ experiences of working conditions; immigration status; and racism and discrimination at work. In particular, the interviews reveal the work permit scheme for non-EEA fishers to be a powerful structure of exploitation, within which workers have little bargaining power and protective employment mechanisms are rendered ineffective.