Cyprus flag is one of the most advantageous flags in Europe and certainly a European white flag of quality and progress.
The procedure for the registration of ships, is pretty straight forward particularly since documentation is in the English language and as such makes the registration of vessels faster and saves on translation expenses whilst an application for registration of a ship under the Cyprus flag must be made by a local lawyer to the Minister of Communications and Works through the Registrar of Cyprus Ships.
In fact, the plethora of services, competency, knowledge and know-how of the Dept. of Merchant Shipping not only in Cyprus but from the global representative offices are indeed delivered by the most highly qualified and professional people thus having established itself as a platform of distinction for international shipping owners and operators to which together with its advancing technology can attribute its success.
There are numerous first class airlines operating to / from Cyprus actually connecting continents with the continuous development of new links the latest being S7 Airline flying to / from Cyprus and Russia.
Cyprus offers outstanding skilled and professional available local workforce - multicultural and multinational. Cyprus ticks all the right boxes even on legal, accounting and banking operational levels.
The country offers a developed and easily understood legal system and industrially advancing and dedicated public service sector. Low fees relative to ship registration or any other services provided by the Flag encumbered upon are comparable with other jurisdictions, if not more favourable.
Benefits of Cyprus also include low set-up costs for a company when one compares establishing companies in other jurisdictions. So, it is not a question of “Why choose Cyprus?” but rather more “Why not choose Cyprus?” for successful business operations in a European country with global links.
There are several favourable factors that further come into play for both business and pleasure in Cyprus that makes one believe a move should come sooner rather than later. Experience first-hand its healthy, safe and welcoming atmosphere. A stark contrast to many other countries.
Whether for business or personal reasons, a presence in Cyprus validates Cyprus’ ability to encompass a marriage of business potential and quality family life.
Cyprus is one of the healthiest countries in Europe, ranked 3rd in economical growth and the 5th safest in the world. Cyprus offers excellent schools, hospitals, lifestyle, the climate is fantastic, the food exquisite and the island is peaceful. These factors are greatly relevant to the shipping and business community overall providing an optimal lifestyle and diligently efficient workforce.
Investing in an industry that is innovative and rapidly technologically advanced in Cyprus holds many advantageous factors offering business incentives at the forefront of global changes.
Whilst express progress takes place, business on the island encourages transparency and trust and the firm belief that Cyprus is one of the few jurisdictions that offers a “full shipping or any other quality business package”
Cyprus stays as one of the most expedient shipping and business centres in the region with the added benefit of the availability of attractive programmes such as the Permanent Residence Permit and naturalisation via investment.
Cyprus is considered a strong and safe jurisdiction with solid international acclaim.
In order for Cyprus’ abundant qualities to be celebrated and acknowledged, thanks to the beautiful long standing relationship between the maritime cluster and the Government, as well as other highly important and economically beneficial sectors, repeated constructive and concerted efforts and joint achievements for the promotion of not only the Flag but the island overall have been experienced – more recently with the announcement of Cyprus welcoming the establishment of an independent Deputy Ministry of Shipping, Deputy Ministry of Development and a Deputy Ministry for Tourism.
An important aspect for business in Cyprus is certainly the tax regime. The favourable provisions of the Cyprus tax legislation as well as the wide network of double taxation treaties also make Cyprus highly attractive. A useful tool for all business and individuals wishing to have up to date information on the tax environment in Cyprus –