If you would like to change your password, please contact IT Department.
Leading ship-owners prefer to register their vessels in Cyprus for the following reasons:
Member of the European Union.
Democratic country with a free market economy, in a strategic location at the crossroads of three continents.
Modern and efficient legal, accounting and banking services based on English practices, and a liberal Foreign Direct Investment regime allowing up to 100% foreign participation in most sectors of the economy.
No exchange control and thus there is freedom of movement of foreign currency.
Double tax treaties with 45 countries.
No tax on profits from the operation or management of a Cypriot registered vessel or on dividends received from a ship-owning company.
No capital gains tax on the sale or transfer of a Cypriot registered vessel or the shares of a ship-owning company.
No estate duty on the inheritance of shares in a ship-owning company.
No income tax on the earnings of officers and crew.
No stamp duty on ship mortgage deeds or other security documents. Cyprus is a signatory to numerous international maritime conventions.
Bilateral agreements with 27 countries, through which Cypriot ships receive either national or favoured nation treatment in the ports of other countries.
Ship registration costs and annual tonnage taxes are competitive.
Full protection for financiers and mortgagees.
Favourable tax regime for ship management.
Low set up and operating costs for companies. Excellent telecommunications and easy access by air and sea.
Highly qualified managerial, clerical and technical staff available.