Shipping Services
Ship Registration // Yacht Registration // Shipping Tax // Cyprus Shipping Benefits

Cyprus Shipping Services

Expert Shipping Support and Consultants

We offer Cyprus shipping services via our associates, Asticrest Ltd. Cyprus is an internationally renowned shipping centre, home to the biggest names in the industry.  Advanced infrastructure and services, as well as the very competitive shipping taxation and other strategic advantages, make Cyprus an ideal location for ship owning, ship management, ship chartering and ancillary shipping-related services.

Cyprus Shipping Facts:

  • 10th largest merchant fleet in the world
  • 3rd largest merchant fleet in the EU
  • 2nd largest Ship Management Centre in the world
  • Largest third party Ship Management Centre in the EU

 For more information, please visit Asticrest.com

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Overview:

Cyprus has the only EU-approved “Open Registry” Regime with a very wide and legally endorsed Tonnage Tax System (TTS), which covers; ship owning; ship management (crew and technical management), and; chartering.

Cyprus TTS benefits include:

  • No tax on shipping activities other than “Tonnage Tax”
  • No tax on shipping profits including profits from the sale of ships
  • No tax on dividends paid from shipping profits
  • No estate duty or capital gains tax
  • No income tax for seafarers on Cyprus-flagged ships
  • No stamp duties on documents or mortgage deeds

 

140 + Ship owning, management and shipping related companies are located in Cyprus (mostly in Limassol), controlling a merchant fleet of 2,200 vessels, with 50 million Gross Tonnage.

Some shipping businesses located in Cyprus…

  • Bernhard Schulte
  • Columbia Shipmanagement Ltd
  • Dartmonth Shipping Limited
  • Hanseatic Shipping Company Ltd
  • Ocean Challenge
  • OceanWide
  • Schoeller Holdings Ltd
  • Synergy

 

In addition to tax incentives and the country’s excellent geographical location, Cyprus maintains its competitive advantages through a high quality maritime cluster, offering efficient and quality services, as well as:

  • Recognition of Competence Certificates from many countries
  • Bilateral agreements of cooperation in merchant shipping with 23 countries
  • Classification of the Cyprus flag on the “White List” of the Paris and Tokyo MoUs
  • Competitive ship registration fees
  • Beneficial owners’ protection through nominee or trustee shareholders

 

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