Shipping and Maritime Law

Our firm has in-depth knowledge and experience in shipping law, shipping finance and registration of vessels under the Cyprus or foreign flags. We can provide ship owners, managers, shipping chartered companies and any other related shipping institutions, high quality services, advice and representation.

N. Mouktaroudes & Associates LLC has a client portfolio which includes reputable ship-owners and shipping companies and we are also acting as external legal advisors and consultants to the Cyprus Union of Shipowners.

Cyprus has become a global maritime center for several reasons including, inter alia:

• Exemption from corporate tax
• Liberal Foreign Direct Investment Regime, allowing up to 100% foreign participation in most sectors of the economy
• No Exchange Control and freedom of movement of foreign currency
• Double Tax Treaties with 45 countries
• Bilateral Agreements of Cooperation in Merchant Shipping with 23 countries including major labor supplying countries
• Low Set-Up and Operating Costs for companies
• VAT exemption for international transport services, when effective use and enjoyment of the services takes place outside the EU

Special taxation for shipping companies

Shipowners, charterers and ship managers participating in the Cyprus tonnage tax system are exempted from income tax and any other tax or levy on dividends paid to shareholders, on interest earned on working capital and on any profit made from the sale of a qualifying ship.

Cyprus Registry’s Benefits

The Cyprus registry ranks twelve amongst the international fleets. Cyprus is the 3rd largest island in the Mediterranean Sea at the eastern edge of Europe, with shipping roots connecting Europe, Asia and Africa.

We can assist you with the following services:

• Ship registration under the Cyprus flag
• Sale and Purchase of second-hand tonnage and memoranda of agreement
• Shipbuilding Contracts
• Structuring and tax planning of ship owning groups
• Drafting and negotiating shipping related agreements
• Handling of technical enquiries, and exemptions of ships with flag administrations
• Ship management agreements and related matters
• Construction, sale and purchase of Yachts and advising on VAT related issues and schemes
• Financing, security and the enforcement of mortgages

Maritime security

We draft, review and file applications for the granting of licenses for the provision of maritime security services to vessels under the Cyprus flag.