Member of the United Nations, the Commonwealth and the Council of Europe.
Democratic country with a free market economy.
Strategic location at the crossroads of three continents.
Modern and efficient legal, accounting and banking services based on English practices.
Double Tax Treaties with 26 counties.
No tax on profits from the operration of a Cypruit registered vessel or on dividends received from a shipowning company.
No capital gains tax on the sale or transfer of a Cypriot registered vessel of the shares of a shipowning company.
No estate duty on the inheritance of shares in a shipowning company.
No income tax on the emoluments of officers and crew.
No stamp duty on ship mortgage deeds or othe security documents.
Signatory to numerous international maritime conventions.
Extensive network of bilateral agreements through which Cypriot ships receive either national or favoured nation teatment in the ports of other countries.
Competitive ship registration costs and annual tonnage taxes.
Full protection for financiers and mortgagees.
Favourable tax regime for shipmanagement and other offshore enterprises.
Low set up and operating cost.
Excellent telecommunications and easy access by air and sea.
Highly qualified managerial, clerical and technical staff availbale.
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