The Council of Ministers has approved the draft legislation concerning the establishment of limited liability shipping companies. Once the draft legislation is adopted by the Cyprus Parliament and enters into force, it shall contribute to the creation of a one stop shop at the Cyprus Deputy Ministry of Shipping.
The incorporation of these shipping companies is intended to be recorded in a register of companies that is different to the existing registry maintained by the Registrar of Companies.
This new form of shipping company will be governed by modern legislation and should be beneficial to shipowners.
For further information on the aforementioned draft legislation or any other enquiry concerning the registration of ships or the incorporation of shipping companies please contact Costas Stamatiou or Vassilis Psyrras of our Shipping Department.
Related Articles
See all articlesArticle | 7 November 2024
Cyprus emerging as top FDI destination in Europe, says Invest Cyprus CEO
Cyprus is growing as a top choice for foreign direct investment (FDI) in Europe, said Invest Cyprus CEO Marios Tannousis. Tannousis addressed an international audience at the 10th International Funds Summit & Expo in Nicosia, presenting the island’s unique advantages, including financing schemes and incentives for global investors.
Read full article
