Corporate set up

Merchant shipping has developed rapidly over the last decades in Cyprus ranking the country amongst the main maritime powers of the world with the 11th largest fleet globally and the 3rd largest fleet in Europe. The Cyprus flag is a top-quality sovereign flag which duly adheres to all safety and security standards deriving from the Paris and Tokyo MoUs and is in the “White List” of both MoUs.

Cyprus is a modern, efficient and integrated shipping cluster ranked amongst the leading in the world. As a third-party ship management centre, it is the largest in Europe and amongst the top 3 worldwide. More than 20% of the world’s third-party management fleet is managed by companies based in Cyprus.

Our highly-qualified and experienced specialist team can assist with all corporate and registration aspects including:

Registration (provisional, permanent, bareboat – parallel registration) of any kind of vessels in the Register of Cyprus Ships.
Registration of any kind of boats in the Small Vessels’ Registry of the Shipping Deputy Ministry of Cyprus.
Registration of ships and companies under the Cyprus Tonnage Tax System.
Registration of yachts under Cyprus flag §Incorporation of shipping companies and all other matters related to matters of company law and tax law relevant to the ownership of Cyprus ships.
Structuring and tax planning of ship owning groups.
Services of authorized representative in Cyprus.
Ship’s sale and purchase agreements.
Drafting and negotiating shipping related agreements.
Charter party (voyage, time and bareboat charterparties) contracts.
Any requests related to maritime security and safety matters concerning Cyprus-flagged vessels.
All kind of registry transactions under Cyprus flag (deletion, transfer of ownership of vessels, renewal of certificates, change of particulars and ships’ name, discharge of mortgages, payment of tonnage tax etc.).

Please feel free to contact our expert team at info@gemmcy.com if you have any question and to discuss how we can be of assistance to you.