Cyprus Shipping: New Challenges and Prospects Mr Alecos Michaelides Permanent Secretary Ministry of Transport, Communications and Works
Cyprus Shipping: New Challenges and Prospects Contribution of Shipping to the economy of Cyprus: 7% of GDP (direct and indirect contribution). 4,500 employed ashore in the shipping industry.
Cyprus Shipping: New Challenges and Prospects Cyprus Registry of Ships: 10 th in the world. 3 rd in the European Union. 1,000 ocean going ships. Approximately 23 million gross tonnage. Cyprus: A leading international shipping centre.
Cyprus Shipping: New Challenges and Prospects
Fiscal and Economic incentives: Competitive ship registration costs and fees. Competitive annual tonnage taxes. 56 double tax avoidance treaties. 23 bilateral agreements on merchant shipping. Comprehensive Tonnage Tax System.
Cyprus Shipping: New Challenges and Prospects Cyprus Tonnage Tax System: Approved by the European Commission as compatible with the Guidelines on State Aid to Maritime Transport. Stable fiscal environment for shipping entrepreneurs. Applicable to: Owners of Cyprus ships, Owners of foreign ships, Charterers, Ship managers.
Cyprus Shipping: New Challenges and Prospects
Active participation in the shipping fora: International Maritime Organization. International Labour Organisation. European Council. European Commission.
Cyprus Shipping: New Challenges and Prospects Cyprus flag: Quality flag. Effective implementation of all internationally applicable standards to shipping. “White List” of Paris and Tokyo MoUs on Port State Control.
Cyprus Shipping: New Challenges and Prospects New Cyprus Shipping Strategy: New branding and promotional campaigns. Re-organisation of Maritime Administration in order to: improve quality of services, improve responsiveness. Simplified procedures. e-services: registration of seafarers, recognition of Certificates of Competency.
Cyprus Shipping: New Challenges and Prospects Cyprus: “the ideal choice for every successful shipping entrepreneur”. Thank you for your attention.