Cyprus’s development into an international maritime center began in 1963 when the government offered the first incentives aimed at the encouragement of ship ownership and registration of vessels under the Cyprus flag.
With the accession of Cyprus to the European Union and in order to harmonize with the EU Directives, Cyprus has ratified the extensive range of international conventions on maritime security, safety etc.
Due to the country’s excellent geographical position, the significant number of bilateral treaties for the avoidance of double taxation concluded by Cyprus and the favorable taxation regime which has been maintained even after the accession to the European Union, the Cyprus flag has had unprecedented success in the last few years, rising to a position of prominence in world shipping.
The Firm provides a wide spectrum of services in this field from conducting searches on ships files kept with the Department of Merchant Shipping to ship registration under the Cyprus flag. We advise owners, managers, charterers, freight forwarders and their respective insurers and help to resolve commercial and legal problems in Cyprus and abroad.
The firm has many years of experience of appearing before the Admiralty Courts. Its lawyers, with the support of the Shipping Department, are experienced and well suited for all aspects of admiralty litigation, including proceedings with respect to obtaining orders for the arrest or release of vessels plying their trade in Cypriot waters, or for the forced sale for execution purposes. The department routinely prosecutes, defends and advises upon every type of admiralty matter, including employment-related claims, claims for collision or salvage or on the basis of bills of lading or charterparties.