12 October 2016
Over the past years, Cyprus has developed into a modern shipping state building a strong reputation as operating a ‘high quality’ flag and as a commercial hub for international shipping business. A key maritime centre, Cyprus offers an attractive regulatory environment for the registration of ships and yachts and for the establishment and operation of ship-management companies.
Very competitive yacht registration fees, low annual registry fees and a number of other tax and VAT advantages make Cyprus an attractive yachting destination. In fact, the island is now one of the most cost-efficient regimes for yacht and ship registration in the EU.
• An open high- quality European flag.
• An efficient Department of Merchant Shipping and Ship Registry.
• Competitive yacht registration fees.
• Very low annual fees and other tax benefits for yacht owners.
• An attractive VAT yacht leasing scheme where the VAT on the
purchase of a yacht may be reduced as low as 1.90 %.
• No restrictions on the nationality of directors and shareholders of
• No restrictions on the mortgaging and/or sale of Cyprus companies.
• A hub for international business with a wide network of UK
educated lawyers and accountants.