The Cypriot maritime industry is ranked third in terms of
size in the EU and 10th worldwide. Moreover, Cyprus is the biggest
third party ship management centre in the EU. Cleo Papadopoulou
shipping tax partner, Liakos Theodorou partner responsible for the
shipping industry and George Lambrou advisory services partner talk
about the new Shipping legislation in this issue of Accounting and
Reporting Magazine.
1 Why is Cyprus an attractive jurisdiction for the
international shipping community? What advantages does Cyprus
present?
Cyprus is an EU member country with highly educated, qualified
and multilingual personnel , low set up and operating costs
,advanced telecommunications , modern and efficient legal,
accounting and banking services. In addition there is a new
specialised tax system for shipping companies which is managed from
a dedicated specialised government department, the Department of
Merchant Shipping.
