Cyprus: Leading maritime hub

The country offers a competitive edge when it comes to port operations.

Cyprus is an established quality Ship Registry and a leading maritime centre within the EU. The Cyprus flag currently ranks as the eleventh largest merchant fleet worldwide and the third largest in the EU, with more than 1,100 oceangoing vessels with a total gross tonnage exceeding 23 million.

The Cyprus flag is committed to safety, security and excellence. Testament to this, the flag is included in the 'White List' of the Paris, Tokyo and other MoUs for Port State Control, as well as in the QUALISHIP 21 of the US Coast Guard.

Cyprus has a strong voice at international shipping fora (IMO, ILO) and within the EU and actively participates and contributes to the formulation of the international and EU shipping policy. Cyprus is a party of all international maritime conventions on safety, security, pollution prevention, maritime labour ensuring their effective implementation.

Moreover, particular emphasis is given to the quality and speed of the services provided, which are tailored to our clients and available on a 24/7 basis. We try to make the best use of digital technologies promoting a paperless environment, thus increasing efficiency and attractiveness of the Cyprus flag.

Shipping has evolved as one of the leading sectors of Cyprus economy. It is estimated that the total contribution of Cyprus shipping to our GDP is around seven per cent. Cyprus has one of the most attractive shipping taxation regimes. The tonnage tax system, which is approved by the EU, provides stability and certainty to shipping entrepreneurs. Also, the abolition of registration and mortgage fees and the competitive fees and dues, make the Cyprus flag an ideal choice for every successful entrepreneur.