Cyprus is one of the largest and widely known shipping centers in the world, consisting of both ship owning and ship management companies and is an ideal destination for shipping companies around the world as it provides one of the most efficient ship registration and attractive tax advantages for ship-owning and ship management companies.
According to Cypriot law, any ship can be registered under the Cyprus flag, provided she meets the ownership prerequisites of the Merchant Shipping (Registration of Ships, Sales and Mortgages) Law of 1963 (45/1963) and as amended from time to time.
Applications for the registration of ships and for the related transactions in the Register of Cyprus Ships or in the Special Book of Parallel Registration must be submitted to the Registrar of Cyprus Ships.
It should be noted that apart from the headquarters of our Firm in the heart of Nicosia, our Firm also maintains an office in Limassol that effectively provides close access to the Cyprus’s main port and also to the Cyprus Shipping Deputy Ministry which is based in Limassol. This enables our Shipping team to facilitate the completion of shipping transactions, to deliver prompt service when completing various registry transactions and to respond promptly to urgent matters.
Our Shipping team has the relevant knowledge and expertise and a long-term view on the shipping legal framework and market to facilitate the needs of our clients by providing comprehensive legal services on shipping matters in a professional and efficient manner.
Our Shipping team provides legal services including amongst others:
Ship and Vessel registration and compliance with the rules and guidelines of the Cyprus Department of Merchant Shipping
Chartering, including time and voyage charters parties
Sale and Purchase of second hand tonnage and memoranda of agreement
Ship Financing transactions
Enforcement of ship charges and mortgages
Choice of flag
Ship building and repair contracts
Ship management agreements and related matters
Drafting and negotiating of shipping related contracts
Shipping loans and mortgages registration
Feel free to contact a member of our firm for any further information and/or clarifications.