Covid-19 : Cyprus Economy and shipping
The impact of Covid-19 Pandemic on Cyprus Economy and Shipping industry.
Ever since the global pandemic of the Covid-19 appeared on the face of the earth, it brought along unprecedented detriments to the economy, business and social life of people all over the world. Cyprus is no exception. The economy of Cyprus is suffering significant financial losses from the isolation period, and the...
Ship Finance
Cyprus has a well-established maritime infrastructure which offers many advantages to ship owners and business people in this industry. Shipping upholds a significant role in the Cyprus economy and after overcoming the economic crisis in 2013, the shipping finance has flourished. The Republic of Cyprus is a member of the IMO, the Council of Europe, the Commonwealth and many other...
Shipping companies in Cyprus
Cyprus has always been targeted by many nations for its beneficial geographical position and, amongst other elements, its attractive shipping operations. Ever since 1963, when the government first offered incentives encouraging ship ownership and registration, Cyprus has become a thriving international business and shipping centre for shipping companies. Throughout the years, Cyprus has been...
Why Register a Ship in Cyprus
Cyprus has always been targeted by many nations for its beneficial geographical position and, amongst other elements, its attractive shipping operations. The country is one of the top five ship management centres worldwide, having around 60 ship management companies in operation while employing almost 40,000 seafarers. This accounts for the one-fifth of the world’s third-party ship management...
REGISTER A SHIPPING COMPANY IN CYPRUS
In the article “Registration of Ships in Cyprus” Michael Chambers presented the essential information about eligibility criteria and ship registration procedures. Cypriot and European citizens may proceed with the necessary procedures and register their vessel on the Registrar of Ships. However, non-European citizens who wish to register a ship under the Cyprus flag they are obliged to...
Considerations when Registering a Vessel under the Cyprus Flag
There is a vast array of benefits available to those wishing to register a shipping vessel under the Cypriot flag. In terms of geographical location, infrastructure, safety and efficient operations Cyprus can offer substantial advantages. Underlying the entire system is a highly profitable economic environment which offers major tax advantages and other fiscal incentives to those who operate...
CYPRUS SHIPPING INDUSTRY: MORTGAGES
Shipping is an important sector of the Cyprus economy. Consequently, shipping finance constitutes an essential part of Cyprus shipping industry. International and national financial institutions may shape the development of the shipping industry in the island. Apart from banking and financial institutions, another important dimension that should be taken into account is the provision of...
REGISTRATION OF SHIPS IN CYPRUS
Cyprus is a major international shipping centre. In the article “International Shipping Companies Choose Limassol,” Michael Chambers explained the major incentives that motivate international shipping companies to establish their operations in Cyprus. In this article Michael Chambers presents the basic information concerning ship registration procedures in Cyprus. Generally, the Policy and...
International Shipping Companies Choose Limassol
Cyprus is a leading market in ship management. Tax incentives and well-developed business infrastructures attract ship owners and shipping companies from all over the world to register and launch their services in Cyprus. Shipping is an important sector of the Cyprus economy. Ship management activities account almost 6% of Cyprus GDP. Precisely, Cyprus is the largest third party ship...
Maritime security for ships flying the Cyprus flag
Cyprus is the third biggest maritime fleet in the EU and the tenth biggest fleet in the world. Generally speaking, Cyprus is a strategic market leader for many reasons. Firstly, it is located at the crossroads of three continents, Europe, Asia and Africa. Secondly, Cyprus has double tax treaties with 45 countries and bilateral agreements of cooperation in merchant shipping with 23 countries....