Register A Vessel in Cyprus
Vessel Registration in Cyprus
Our firm’s Shipping & Maritime Law Department takes pride in its responsiveness, efficiency, reliability and diligence in servicing our clients in a cost-effective, time-efficient and highly qualitative manner.
The geographical position of Cyprus has been and is considered to be an asset throughout the history. Given its unique characteristics, Cyprus will always preserve a protuberant place in the international maritime sector. Cyprus maintains one of the largest registered merchant fleets in the world and is an approved ‘open’ registry by the European Union. Apart from its great geographic location, Cyprus has always attracted many shipowners to register their vessels under the Cyprus Flag. Some of the main reasons why Cyprus is such an attractive destination for shipowners to register their vessels are the following:
Equally to a yacht registration, the ownership criteria for a vessel to be eligible to register under the Cyprus Flag are the following:
- in accordance with the laws of the Republic of Cyprus and have their registered office in the Republic; or
- in accordance with the laws of any Member State (EU/EEA) and have their registered office, central administration or principal place of business within the European Economic Area and which will have either:
- Appointed and maintain an authorised representative in Cyprus; or
- Ensured that the management of the ship is entrusted in full to a Cypriot or a Community ship management company having its place of business in Cyprus; or
- Outside Cyprus or outside any other Member State (EU/EEA) but controlled by Cypriot citizens or citizens of Member States and have either appointed an authorised representative in Cyprus or ensured that the management of the ship is entrusted in full to a Cypriot or a Community ship management company having its place of business in Cyprus.
Cyprus has one of the largest registered merchant fleets in the world, being at the same time a well-established shipping and ship management center, located
Mortgages on vessels are a common practice in the maritime/shipping industry and can be an effective way for shipowners to obtain financing for their vessels.
Στις 6 Οκτωβρίου 2022 ψηφίστηκε από τη Βουλή των Αντιπροσώπων «ο περί Ναυτιλιακής Εταιρείας Περιορισμένης Ευθύνης (Ν.Ε.Π.Ε.) Νόμος του 2022» (ο «Νόμος»). Ο Νόμος εγκαθίδρυσε
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