Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 09 MARCH 2016

Cyprus Shipping Company | Update 2016

AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Contributor
AGPLAW | A.G. Paphitis & Co. LLC

AGPLAW | A.G. Paphitis & Co. LLC

Established in 2006, AGPLAW is a full-service, award-winning and committed to excellence law firm...

View firm profile
Explore more from AGPLAW | A.G. Paphitis & Co. LLC

The first step to be taken when registering a vessel under the Cyprus flag is to set up a Cyprus Shipping Company, which will acquire the vessel on its name.

CyprusTransport
Angelos Paphitis
Angelos Paphitis
Author LinkedIn connections

Legal Status

The first step to be taken when registering a vessel under the Cyprus flag is to set up a Cyprus Shipping Company, which will acquire the vessel on its name.

The company is registered as a private company LTD (limited by shares) under the provisions of the Cyprus Companies Law, Chapter 113. The Cyprus shipping company incorporation can be undertaken by AGP; please be aware that only lawyers are entitled to register any type of company in Cyprus.

The company can thereafter purchase or sell vessels, borrow funds (from residents or non-residents) and mortgage its vessels in favour of non-residents etc. without any exchange control approval. Furthermore, the company may do all banking operations, in any currency, as every legal entity in Cyprus can do.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Shipping - The New Merchant Shipping (Port State Control) Amendment Law Of 2009

The Merchant Shipping (Port State Control) Amendment Law of 2009 (Law 60(I) of 2009), which came into effect at the end of June 2009, implements the provisions of Articles 7(3) (a) and 19 (a) of EU Directive 95/21/EC concerning “enforcement in respect of shipping using Community ports and sailing in the waters under the jurisdiction of the Member States of international standards for ship safety, pollution prevention and shipboard living and working conditions (Port State Control)” as amended by
CyprusTransport
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
Article

MiCA’s Transition Ends On 1 July 2026. Is Your Crypto Business Authorised To Continue?

The EU's Markets in Crypto Assets Regulation (MiCA) transitional period expires on 1 July 2026, marking a critical deadline for crypto-asset service providers operating in Europe. Without proper MiCA authorisation by this date, businesses must cease operations and implement orderly wind-down procedures, as pending applications do not grant permission to continue providing services. This comprehensive analysis examines the regulatory requirements, compliance obligations, and strategic considerations for cryp
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

Cyprus Citizenship For Highly Skilled Employees

Cyprus has introduced an accelerated citizenship pathway for highly skilled foreign employees working for qualifying companies in the Republic. This framework, sometimes called the "Golden Knowledge" route, allows eligible professionals to obtain citizenship after four or five years of qualifying residence, depending on their Greek language proficiency. The regime represents a significant development for international professionals who have established their careers and lives in Cyprus.
CyprusImmigration
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

Can Cyprus Become A True Fintech Banking Hub?

Cyprus is evolving from a jurisdiction that simply attracts fintech licenses to one building genuine European fintech infrastructure. With new regulatory frameworks including PSD3, DORA, and MiCA converging, the country faces a critical question: can it develop the banking relationships, payment systems access, and institutional depth required to transform licensed entities into a truly interconnected financial ecosystem?
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

Crypto Fraud, Cold Calls And “Recovery” Scams In Cyprus. Why Victims Must Act Fast

Cryptocurrency fraud victims in Cyprus are increasingly targeted by sophisticated "recovery" scams involving cold calls, remote access requests, and false promises to retrieve lost digital assets. Recent court cases demonstrate that while recovery is not guaranteed, victims who preserve evidence and act quickly may have realistic legal options through Cyprus courts, including freezing orders, disclosure relief, and asset preservation measures.
CyprusCriminal Law
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC