Maritime, Shipping Law & Admiralty
Cyprus is the 3rd largest maritime nation in the EU & top 10 in the world; an ideal location for shipping.
MS Lawyers provide legal services relating to maritime, shipping and admiralty, including registration of entity, maintenance and administration, as well as any commercial law services.
Maritime and shipping is a major contributor to Cyprus’ national GDP, since so many foreign companies register their shipping entities in Cyprus to take advantage of the many maritime and admiralty benefits, including:
- Excellent conditions for shipping company registration & operations
- Low taxation rate for shipping companies; corporate income tax rate of 4.25 per cent or a tonnage tax regime (see below publication)
- Excellent multipurpose shipping/port infrastructure
- Ideal legal structure and governance for maritime, shipping law & admiralty
- Favourable geographical location, as a natural transhipment load hub for shipping lines between European and Middle East ports in the Mediterranean Sea and close to the Suez Canal – as well as an important regional and international cruise liner hub
Limassol Port is the largest port in Cyprus, serving most of the island's seaborne cargo and passenger traffic, followed by Larnaca. There are a number of smaller marinas around the island. Meanwhile, Larnaca and Limassol are currently going through major development of both ports and marinas to increase handling and passenger capacity, as well as general services.
Currently there are approximately 1,000 ships registered in Cyprus; over 130 ship owning, ship management and shipping related companies maintaining offices and conduct international activities from Cyprus; and over 2,000 vessels with 40 million gross tonnage.
For more information contact MS Lawyers
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