Cyprus is currently holding the 10th largest merchant navy in the world and the 3rd largest in the European Union.
The Cyprus Tonnage Tax System in relation to ship owners
Registration of Ships and Shipping Companies in Cyprus
Due to the law taxation in Cyprus, our country is an attractive place to register a ship under the Cypriot Flag or to register a shipping company.
Protection of Cyprus Ships against acts of piracy & the licensing of private ship security companies
In recent years the seizure of vessels and detention of mariners under inhuman conditions for ransom payment claims on behalf of ship-owners for their release has increased dramatically. The Cyprus Government has followed other jurisdictions in preparing legislation to combat piracy on the high seas, mainly with the provision of specially trained and certified armed guards/escorts on the merchant vessel flying the flag of Cyprus.