(www.MaritimeCyprus.com) The Cyprus Shipping Deputy Ministry has decided to amend its policy on the registration of vessels in the Register of Cyprus in an effort to clarify certain points in the existing policy and also to further develop the competitiveness of the Cyprus flag.
The new Policy has immediate effect and as from the date of the present Circular No. 10/2019, the new Policy supersedes and replaces the Government Policy on the Registration of Ships which is attached to Circular No. 12/2012 and which was in force since 15 October 2011.
In addition to the low registration costs and tax benefits (particularly the tonnage tax scheme), Cyprus registration has a wide range of other benefits. The well-established legal infrastructure provides full protection for mortgagees and finance providers, and establishment and operating costs are low. The Cyprus flag is on the ‘white list’ of both the Paris and Tokyo Memoranda of Understanding and is not on the US Coast Guard’s List of Targeted Flag States, resulting in fewer inspections and delays.
The Cyprus Shipping Deputy Ministry provides a responsive, high-quality service, supplemented by maritime offices in New York, London, Rotterdam, Piraeus, Brussels and Hamburg, and a network of local inspectors of Cyprus ships covering important ports worldwide.
Click on below image to download the Cyprus DMS circular 10/2019:
For the latest Contact Directory of the Cyprus Shipping Deputy Ministry, click here.
Source: Cyprus Shipping Deputy Ministry