Cyprus is among the world’s foremost shipping and ship management centres, due to the uniquely strategic location that the island boasts, at the crossroads between three continents. As such, the Cyprus Flag offers a number of competitive advantages, and is highly sought after among the maritime industry.
Its main benefits include:
- Zero taxation on profits obtained by the operation of a vessel under the Cyprus flag
- Zero taxation on company dividends
- Exclusion of income tax for Cyprus flag ship officers and crew
- Competitive registration costs and minimal tonnage tax
- Zero stamp duty on ship mortgages and subsequent mortgage party protection
- Consideration as an EU flag
- And many more
We offer clients our full support around the registration of a vessel under the Cyprus Flag, advising and addressing on all requirements as stipulated by the governing Cyprus Department of Merchant Shipping.
Our team of highly qualified professionals boast in-depth experience with the Cyprus marine regime and law as well as additional shipping and admiralty procedures, which they apply in the preparation of tailor-made solutions to fulfil clients’ extensive marine needs.
Contact us today to learn more about our extensive shipping services and how we can fulfil your business’ needs.