Shipping Business Activities

The conduct of maritime activities and the rendering of shipping services world-wide can be achieved through Cyprus. Our firm can provide information and assistance to non- resident ship-owners or other professional businessmen as to how to register a ship under the Cypriot flag. This can be done by forming a company. The ownership of the ship can then be transferred to the Cypriot Company. The various fiscal and other incentives of such an investment for ship owners, charterers and ship managers can be summarized as follows:

  1. EU fully approved Cyprus Tonnage Tax (TT) system is considered as one of the most advanced and most competitive
  2. Relatively low fees payable by Cypriot registered vessels as compared with other countries
  3. No tax on profits or the payment of dividends from the operation of a Cypriot registered vessel, in international waters
  4. No Capital gains tax on the sale or transfer of a Cypriot registered vessel or the shares of a ship owning company
  5. No income tax on the emoluments of officers and crew.