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Taxation of Shipping Companies

Cyprus is considered as one of the most competitive shipping centres in the world in terms of registration fees and taxes.

  • No tax is imposed on profits from the operation of Cypriot registered vessels
  • No tax on dividends received from a ship-owning company or a ship management company
  • No capital gains tax on the sale of a ship or shares in a ship-owning or ship management company
  • Income arising from ship management activities is subject to tax at a rate equal to 25% of tonnage tax rates of vessels under management. Alternatively, a ship-management company may choose to pay corporate tax at 4,25% on taxable profits.

Our Tax Team can assist with the formation of a Cyprus ship-owning or ship management company as well as the provision of corporate and secretarial services ensuring their full compliance with statutory obligations.

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