Shipping and Ship Management
Cyprus is an attractive location for the establishment of ship management companies and companies with shipping related activities. The geographical position of the island, its accession to the main international maritime convention, as well as the generous tax incentives and the extensive network of bilateral agreements in merchant shipping have enabled Cyprus to become an ideal shipping centre and among the 5 leading merchant fleets of the world.
Our Team undertakes all matters relative to the following:
- Registration of ship and yacht owning companies
- Registration and deletion of vessel and yacht
- Provisional and permanent registration
- Payroll
Advantages:
- No tax on profits from the operation or management of a Cypriot registered vessel or on dividends received from a shipowning company
- No capital gains tax on the sale or transfer of a Cypriot registered vessel or the shares of a shipowning company
- No estate duty on the inheritance of shares in a shipowning company
- No income tax on the emoluments of officers and crew
- No stamp duty on ship mortgage deeds or other security documents
- Signatory to numerous international maritime conventions
- Competitive ship registration costs and annual tonnage taxes
- Full protection for financiers and mortgagees
- Favourable tax regime for ship management and other international business enterprises
- Low set up and operating costs for companies
