Charting a Course for Global Maritime Success

Located at the crossroads of Europe, Africa, and Asia, Cyprus has emerged as a key player in the global maritime industry. With over 3,500 years of maritime heritage, a skilled workforce and forward-thinking policies, Cyprus has evolved into a significant maritime centre renowned for excellence and quality.

An International Maritime Centre

Over the years, Cyprus has emerged as a leading maritime power, ranking among the largest shipping fleets globally and becoming an international centre for shipping and ship management activities. Its success is built on an advanced infrastructure, a competitive regulatory framework and strong maritime expertise. Last year, Cyprus proudly celebrated the 60th anniversary of the “Registry of Cyprus Ships,” a milestone that underscores the country’s dedication to sustainability and progress.

The maritime sector in Cyprus offers a wide range of fiscal and financial incentives, including competitive ship registration costs and annual tonnage taxes, ensuring the fleet´s worldwide competitiveness and enhance Cyprus’s reputation as a leader in maritime excellence. Cyprus has also concluded double tax treaties with over 60 countries and signed more than 25 bilateral agreements on merchant shipping offering a supportive international network.

The Cyprus Tonnage Tax System, fully aligned with the European Acquis on maritime transport, ensure stability for Cyprus-based shipping entrepreneurs. The country’s simple, robust and transparent legal framework based on the English common law system is constantly updated to maintain competitiveness.

Commitment to Safety and Quality

Maintaining and enhancing the exceptional quality for which the Cyprus flag is renowned remains a top priority. The Cyprus flag is consistently classified in the “White List” of the Paris and Tokyo MoUs on Port State Control, reflecting the commitment to effective implementation of international safety, security and environmental protection standards.

Cyprus actively engages in International and European Union fora, consistently contributes a strong voice to global maritime decision-making processes. The country’s resilience and significance are further underscored by its uninterrupted election to the Council of the International Maritime Organization since 1987.

Cyprus, a guiding light in the maritime world, is set to lead a new era of excellence with its quality flag, incentives, expertise, and strong public-private collaboration. It welcomes global shipping entrepreneurs, offering a base where innovation, inclusivity, and success converge. With unwavering commitment, Cyprus sails towards a future of endless possibilities and unparalleled achievements on the global maritime stage.