An Introduction to Cyprus’ Maritime Industry

Cyprus has become a leading forum in the international maritime industry mostly due to the attractive tax system for ship owners and ship managers and due to its ratification of major international maritime conventions.

Maritime Authority in Cyprus

The competent authority in Cyprus for maritime activities is the Department of Merchant Shipping within the Ministry of Communications and Works (the 'DMS'). The maritime activities included under the authority of the DMS are, the registration of vessels and registration of mortgages of vessels carrying the Cyprus flag.

Registration in the Register of Cyprus Ships

A vessel registered in the Register of Cyprus Ships will carry the Cyprus flag. A vessel may only be registered in the Register of Cyprus Ships if: