A flag trusted on every sea, backed by a network built for shipowners.

Cyprus ranks among the world's leading maritime registries - combining international standing, a global support network, and efficient service, so your fleet sails with fewer delays and stronger recognition in port.

AMONG THE LEADING

ship registries Worldwide

AMONG THE LEADING

ship registries in Europe

Open
Registry

flexibility

6

maritime offices worldwide

Global Standing

  • Among the top ship registries in the world
  • Among the top ship registries in Europe
  • Classified on the White List of the Paris and Tokyo MoU

Global Network & Support

  • Maritime offices at Piraeus, Brussels, Rotterdam, Hamburg, London and New York offering services to seafarers and Cyprus ships
  • A network of local inspectors covering important ports worldwide, ensuring efficient control of Cypriot vessels and avoiding port state detentions

Safety, Security & Compliance

  • Signatory to international maritime conventions on safety, security and pollution prevention
  • Bilateral agreements with more than 27 countries, securing national or most-favoured-nation treatment for Cypriot ships abroad

Efficient & Cost-Effective

  • Simplified registration procedures
  • Efficient and qualitative provision of services by the SDM
  • No registration costs

Ready to register under the Cyprus flag?

Walk through the step-by-step registration process and see exactly what's needed for your fleet.

REGISTRATION PROCESS

TONNAGE TAX & INCENTIVES

Qualifying owners of Cyprus and foreign ships, charterers and ship managers who are approved to be taxed under the Tonnage Tax System (the “TTS”) are subject to an annual tax referred to as tonnage tax, which is calculated on the basis of the net tonnage of the qualifying ships they own, charter or manage.

The TTS is available to any owner, charterer or ship manager who owns, charters or manages a qualifying ship engaged in a qualifying shipping activity.

  1. Owners of Cyprus Ships

Eligible for the TTS is an owner of a Cyprus ship, who owns a qualifying ship, which is engaged in a qualifying shipping activity.

2. Owners of Foreign Ships

Eligible for the TTS is an owner of a foreign ship, who is a tax resident of the Republic of Cyprus, has opted to be taxed under the TTS and owns a qualifying ship, which is engaged in a qualifying shipping activity.

Owners of foreign ships must comply with the “community-flagged share” requirement.

3. Charterers

The charterer must comply with the below requirements: Eligible for the TTS is a charterer who charters ships under bareboat, demise, time or voyage charter and is a tax resident of the Republic of Cyprus, has opted to be taxed under the TTS and charters a qualifying ship, which is engaged in a qualifying shipping activity.

  • minimal share of the fleet in ownership; and
  • “community-flagged share” requirement.

4. Ship Manager

Eligible for the TTS is a ship manager who is a tax resident of the Republic of Cyprus, has opted to be taxed under the TTS, provides ship management services (crew and/or technical) to qualifying ships and meets at any time the below requirements:

  • fl maintain a fully edged office in Cyprus;
  • employ a sufficient number and qualifications personnel;
  • at least 51% of its employees are EU/EEA citizens;
  • “community - flagged share” Requirement;
  • economic link of managed ships with the Community;
  • provision of crew management services in accordance with the Maritime Labour Convention requirements for crew managers; and
  • ship managers must be certified under the ISM Code.
REGISTRATION PROCESS >