There are several reasons for shipping companies to set-up in Cyprus, varying from the geographic location of the island, its maritime tax system – maritime policies and its EU diplomatic protection, to its presence in key ports worldwide.
Cyprus is an attractive destination for leading ship-owners to register their vessels and has the 3rd largest merchant fleet in Europe and amongst the top 5 worldwide ship management centres. As a member of the IMO council since 1987, with a flag classified in the whitelist of Paris & Tokyo MOUs and excluded the list of target flag states of the US coast guard, Cyprus is the ideal place to register a vessel.