Areas of Practice

Tax Regime

Income Tax
No income tax is payable on the income of a ship-owner of a Cypriot ship which has been derived from the operation of such ship in any shipping enterprise between Cyprus and ports abroad or between foreign ports or on the dividends out of profits which have been derived from such operations.

 

Capital Gains Tax
No capital gains tax is payable on the sale or transfer of a Cypriot ship or of the shares in the relevant ship owning company.

 

Estate Duty
No estate duty is payable on the inheritance of shares in a Cypriot siphoning company.

 

Personal Taxation
No income tax is payable on the salaries of officers and crew of Cypriot ships which operate in international waters.

 

Stamp Duty
No stamp duty is payable on bills of sale and mortgages on Cypriot ships and on other related documents.