Why Cyprus for Maritime?


Recognizing the political, economic and social importance of shipping, as from 1963, Cyprus managed to develop the country into a fully-fledged shipping centre combining both a sovereign flag and a resident shipping industry, which is renowned for its high-quality services and standards of safety.

Why choose Cyprus for Maritime?

  • Among Top 3 Shipmanagement centre’s in the world
  • 11th largest fleet worldwide
  • 3rd largest fleet in Europe
  • ≥ 24 million gross tonnage
  • Competitive registration fees & benefits
  • EU approved Open registry
  • White listed by Paris & Tokyo MOU’s on port state control
  • Top quality flag
  • Maritime Centre of Excellence

Denoted Shipping Deputy Minister reporting directly to President of the Republic

Tax Benefits

  • First ever Tonnage Tax system to have been approved by EU
  • Applicable to Shipowners – Charterer’s - Ship managers
  • Comprehensive & favourable
  • More than 60 double tax avoidance treaties
  • More than 25 bilateral agreements on merchant shipping
  • Attractive and transparent tax regime

Why Cyprus?

  • Low cost of doing business
  • Strategic location
  • Access to markets
  • Access to talented and highly skilled workforce
  • Excellent regulatory infrastructure
  • High quality of life
  • Strong business support service
  • Positive economic outlook
  • Bonus plus: the sun, the sea and the great food!

See why Maritime Cyprus video HERE.

For further details on maritime operations in Cyprus and/or vessel registrations under the Cyprus flag, please contact our dedicated Shipping team at mkshipping@kyprianou.com