Why Cyprus
A Sovereign Flag - An International Maritime Centre
Member of the European Union.
Democratic country with a free market economy. Strategic location at the crossroads of three continents.
Modern and efficient legal, accounting and banking services based on English practices. Liberal Foreign Direct Investment regime allowing up to 100% foreign participation in most sectors of the economy.
No exchange control and freedom of movement of foreign currency.
Double Tax Treaties with 40 countries.
No tax on profits from the operation or management of a Cypriot registered vessel or on dividends received from a shipowning company.
No capital gains tax on the sale or transfer of a Cypriot registered vessel or the shares of a shipowning company.
No estate duty on the inheritance of shares in a shipowning company.
No income tax on the emoluments of officers and crew.
No stamp duty on ship mortgage deeds or other security documents. 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. Competitive ship registration costs and annual
tonnage taxes. 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.