Cyprus

A vessel may be registered in the Cyprus registry either provisionally, permanently or by parallel registration depending on the particular circumstances of the vessel.

The application for registration of a ship under the Cyprus flag must be made by a local lawyer to the Minister of Communications and Works through the Registrar of Cyprus Ships. Our maritime lawyers will skilfully manage the registration of your vessel from the very beginning ensuring a speedy and smooth registration process.

In accordance with section 5(1) of the Shipping Laws a vessel may be registered where:

(a) More than fifty percent (50%) of the shares of the ship are owned:

(1) by Cypriot citizens, or

(2) by citizens of other Member States who have appointed an authorised representative in the Republic of Cyprus, or

(b) The total (100%) of the shares of the ship are owned by one or more corporations, which have been established and operate:

(1) in accordance with the laws of Cyprus and have their registered office in Cyprus, or

(2) in accordance with the laws of any other Member State and have their registered office, central administration or principal place of business within the European Economic Area and which will have either appointed an authorised representative in Cyprus or the management of the ship is entrusted in full to a Cypriot or a Community ship management company having its place of business in Cyprus, or

(3) outside Cyprus or outside any other Member State but controlled by Cypriot citizens or citizens of Member States and have either appointed an authorised representative in Cyprus or the management of the ship is entrusted in full to a Cypriot or a Community ship management company having its place of business in Cyprus. The corporation is deemed to be controlled by Cypriots or citizens of any other Member States when more than fifty percent of its shares are owned by Cypriots or citizens of any other Member States or when the majority of the Directors of the corporation are Cypriot citizens or citizens of any other Member State.

If a Cyprus company is incorporated for the purposes of registration the company can either bareboat charter or acquire the vessel in its own name and DMS practice has been to allow an application from a company under formation provided that it is duly incorporated prior to the completion of the registration process for the vessel.

This publication been written in general terms and should be seen as broad guidance only. The information provided cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained herein without obtaining professional advice. This information should not be relied upon as a substitute for such advice. For more information please contact us at info@oxfordmaritime.com; +357 25 823 593

Cypriot merchant shipping legislation allows for the provisional registration of a vessel (if at the time of registration the vessel is situated at a port outside the Republic and provided it was not previously a Cyprus ship) and most owners usually opt to have their ship provisionally registered first to allow time for the completion of the administrative requirements for permanent registration.

This publication has been written in general terms and should be seen as broad guidance only. The information provided cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained herein without obtaining professional advice. This information should not be relied upon as a substitute for such advice.For more information please contact us at info@oxfordmaritime.com; +357 25 823 593

The permanent registration of a provisionally registered vessel must be effected within 6 months or 9 months if the 3 month extension has been obtained, from the date on which the vessel was provisionally registered.

This publication been written in general terms and should be seen as broad guidance only. The information provided cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained herein without obtaining professional advice. This information should not be relied upon as a substitute for such advice. For more information please contact us at info@oxfordmaritime.com; +357 25 823 593

Cyprus legislation provides for the parallel (bareboat) registration of a vessel either as ‘parallel-in’ or ‘parallel-out’ registration in accordance with internationally accepted bareboat registration. The DMS has confirmed that the parallel (bareboat) registration of vessels under the Cyprus regime may be effected with more than 20 states whose legislation is compatible with Cypriot legislation.

Parallel-in Registration

This form of registration offers the possibility to a foreign flag vessel on bareboat charter to a person (legal or physical, qualified to own a Cyprus vessel) to be registered in ‘parallel’ under the Cyprus flag for a period, usually 2 years, which is renewable. Under this type of registration, the deletion of the registration in the foreign register is not required, but the foreign nationality is suspended and the foreign registry is operative only with respect to the ownership and encumbrances status of the vessel. The law of the country of the foreign registry must allow the parallel registration of vessels registered in its register.

Parallel-out Registration

Under parallel-out registration Cyprus vessels may be bareboat chartered to a foreign person or company and registered ‘parallel-out’ in a foreign register for the duration of the charter party. The parallel-out registration of a Cyprus vessel is possible if the vessel is bareboat chartered to a foreign individual or corporation and the law of the country of the foreign registry allows the parallel registration of vessels of another registry, under prerequisite conditions similar to those set out for the parallel-in registration of vessels in the Register of Cyprus Ships. This type of registration is possible for Cyprus vessels which are provisionally or permanently registered in the Register of Cyprus Ships. The parallel-out registration of a Cyprus vessel must be approved by the Minister of Communications and Works.

This publication been written in general terms and should be seen as broad guidance only. The information provided cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained herein without obtaining professional advice. This information should not be relied upon as a substitute for such advice. For more information please contact us at info@oxfordmaritime.com; +357 25 823 593