25/07/2023
Invest wisely, invest maritime. Cyprus offers a stable and rewarding destination for your maritime ventures.
What are the benefits?
➡ Corporate fees are at 12.5%, one of the lowest in Europe
➡ For qualified international maritime activities, Cyprus has a highly advantageous, EU-approved tonnage tax scheme, as tax is levied based on tonnage and vessel age rather than income, with savings available if the ship's crew and technical management are handled by a ship management business registered in Cyprus or elsewhere in the European Union.
➡ The tonnage tax policy offers significant savings over traditional taxation and applies automatically to ships registered in Cyprus. Profits from the operation or administration of a Cyprus-registered vessel, as well as dividends received from a vessel-owning business, are tax-free, and officers' and crew's wages are exempt from income tax.
➡ The sale or transfer of a Cyprus-registered vessel or the shares of a vessel-owning business is exempt from capital gains tax, and there is no stamp duty on ship mortgage deeds or other security documents.
➡ No estate duty on inheritance.
➡ Favourable taxation: With one of the lowest tax rates in the EU (12.5%)
➡ More than 60 double tax treaties have been struck by Cyprus with other nations, helping to lower the tax burden on your company
Strategic location: Being the intersection of 3 continents (Europe, Asia, and Africa) makes it the perfect centre for companies wishing to develop into these areas.
➡ Strong legal protections, a steady economy and a qualified workforce are all examples of a business-friendly environment.
➡ Member of the Commonwealth and the EU: Cyprus provides businesses with access to a range of markets
➡ Simple business formation
➡ Access to EU markets of more than 500 million people.
Further information about shipping can be found on our site here: https://kyriaservices.com/shipping/
