Cyprus has one of the largest registered merchant fleets in the
world, being at the same time a well-established shipping and ship
management center, located close to the Suez Canal.
Cyprus Registry is also one of the only two open registries
within the European Union, allowing non-Cypriot citizens to
register their ships under the Cyprus flag, provided that they
fulfil the specific conditions of ownership that the Merchant
Shipping (Registration of Ships, Sales and Mortgages) Laws of 1963,
require.
The Cyprus flag offers many economic benefits such as the
following:
- Low set-up and operating costs for companies;
- No registration and mortgage fees for ocean going vessels;
