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The Cyprus Shipping Chamber.

26/02/2014 - by Cyprus Shipping Chamber
The Cyprus Shipping Chamber is the trade association of the Shipping Industry in Cyprus.  For 25 years, having witnessed considerable growth since its establishment in January 1989, the Chamber today comprises all the major shipowning, shipmanagement, chartering and shipping related companies based in Cyprus, thus making it one of the largest national shipping associations worldwide.

The main purpose of the Chamber is to promote the interests of Cyprus Shipping and to further the reputation of the Cyprus flag. At the same time, the Chamber acts as a lobbying group for the promotion and safeguard of the legitimate interests of its Member-companies, at a national level through its close relations with the Cyprus Government and Parliament, as well as numerous local professional organisations, in an effort to improve and constantly enhance the shipping infrastructure of Cyprus.

The Chamber also operates as a roving ambassador of the Cyprus Shipping Industry through its membership and active participation at various regional international shipping associations and organisations.

As a result of this very active and continuous involvement for more than twenty years, the Chamber is able to offer its Members a constant source of up-to-date advice on Shipping matters. Equally important, the Chamber organises on a regular basis a number of social and charitable events, thus projecting the considerable charity and welfare contribution of the Shipping Industry.
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  • 17/01/2014 - by Eleni P Hoplaros

    Cyprus’ unique geographical location at the crossroads of three continents, its advanced infrastructure and services, as well as the very competitive shipping taxation and other strategic advantages, make the island the ideal location for ship owning, ship management, ship chartering and ancillary shipping-related services.
     
    Facts about Cyprus’ shipping sector
    More than 140 ship owning, ship management and shipping related companies controlling a merchant fleet of 2,200 vessels with 50 million Gross Tonnage.10th largest merchant fleet in the world3rd largest merchant fleet in the EU2nd largest Ship Management Centre in the worldLargest third party Ship Management Centre in the EU
    Cyprus has the only EU-approved “Open Registry” Regime with a very wide and legally endorsed Tonnage Tax System (TTS), which was introduced with the Merchant Shipping Law in 2010 and covers the three main “maritime transport” activities: ship owning, ship management (crew and technical management), and chartering. 
     
    In summary, advantages of the Cyprus TTS include:

    • No tax on shipping activities other than “Tonnage Tax”
    • No tax on shipping profits including profits from the sale of ships
    • No tax on dividends paid from shipping profits
    • No estate duty or capital gains tax
    • No income tax for seafarers on Cyprus-flagged ships
    • No stamp duties on documents or mortgage deeds
     
    In addition to tax incentives and the country’s excellent geographical location, Cyprus maintains its competitive advantages through a high quality maritime cluster, offering efficient and quality services, as well as:
    Competitive ship registration feesRecognition of Competence Certificates from many countriesBilateral agreements of cooperation in merchant shipping with 23 countriesClassification of the Cyprus flag on the “White List” of the Paris and Tokyo MoUsBeneficial owners’ protection through nominee or trustee shareholders
    Cyprus has adopted a maritime safety policy, which focuses on the effective control of ships and the improvement of the quality of the country’s merchant fleet. Cyprus’ Maritime Offices are located in Limassol (Cyprus), as well as Hamburg (Germany), New York (USA), London (UK), Athens (Greece), Rotterdam (Netherlands) and Brussels.

    Things To Know About The Shipping Industry In Cyprus That Make It A Global Player

  • 17/01/2014 - by Eleni P Hoplaros

    The new Shipping Taxation System covers the three basic Shipping activities in International Shipping, namely Ship Owning, Ship Management (including Crew Management) and the Chartering of vessels. 

    The benefits of the new system may soon render Cyprus, the “Shipping Metropolis” of Europe. 

    Ship Owners are exempted from Income Tax and are automatically taxed under the Tonnage Tax System. 

    Ship Managers and Charterers can exercise their option to be taxed under the Tonnage Tax System. You may view CIPA’s shipping Filmette or for more information, please visit the Department of Merchant Shipping.
     
    Supervisory/Regulatory Framework

    As a member of the European Union (E.U.), Cyprus has a regulatory framework that is harmonized with E.U. requirements pertaining to the acquis communautaire. 

    Legislation relating to the Shipping Sector includes: 
    Merchant Shipping Laws, 1963-2005 (Registration of Ships, Sales and Mortgages)Merchant Shipping Laws, 1992-2007 (Fees and Taxing Provisions)Merchant Shipping Laws, 1963-2002 (Masters and Seamen)

    Competent Authority

    The Cyprus Department of Merchant Shipping (www.shipping.gov.cy)

    Trade Association

    The Cyprus Shipping Chamber is the trade association of the shipping industry in Cyprus promoting the interests of Cyprus shipping and furthering the reputation of the Cyprus flag, among other priorities.

    The Shipping Tonnage Tax System in Cyprus

  • 17/01/2014 - by Eleni P Hoplaros

    Due to its many strategic advantages, Cyprus has become home to some of the world’s largest international ship management companies including:Bernhard SchulteColumbia Ship Management LtdDartmonth Shipping LimitedHanseatic Shipping Company LtdOcean ChallengeOceanWideSchoeller Holdings LtdSynergyHere are 11 reasons that confirm why Cyprus still holds global appeal within the shipping arena, strengthening its foothold in this sector:1. Excellent geographical position at the crossroads of Europe, Africa and the Middle East2. “Open Registry” (one of two countries in the European Union), allowing non-Cypriot citizens to register ships under the Cypriot flag3. Advanced maritime infrastructure (two deep sea multipurpose ports in Limasol and Larnaca)4. Sound international relations5. Favourable taxation regime and other benefits for shipowners and crew members6. Low ship registration fees7. No income tax, estate duty or capital gains tax for Cyprus-registered ships8. No stamp duty on documents or mortgage deeds9. Anonymity of beneficial owners through nominee or trustee shareholders10. Recognition of Competence Certificates from many countries11. Easy deletion from the Cyprus Shipping Register

    11 Reasons Why Cyprus Is An Advantageous Shipping Centre

  • 26/04/2013 - by clarisse david

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    please trust and honest is what i need from you.

    i am Mrs. clarisse  an Indian citizen.i am married to late Dr.David  from Cote D•Ivoire West Africa who died in that political problem in Cote D•Ivoire in 2011 please I have some Funds I want you to handle for me in God's glory & bear in mind that this project will be carried under a Legitimate arrangements that will protect you & the poor,
    Nevertheless Can you reply me back for me to give you more Information's concerning this matter.

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    Awaiting your soonest Response.

    Mrs. clarisse
    contact me for more details(clarissedavid2@yeah.net)

    GREETING FROM MRS.clarisse,I hope this...

 

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