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Shipping

Shipping in Cyprus has been one of the oldest industries. It is highly specialised and complex, as it has been facing dramatic changes in recent years striving to meet the ever high expectations for safety at sea and protection of the marine environment. While global demand for transportation services remains strong, the deregulated market place is forcing individual companies to compete harder for new and existing customers. As cost pressures and service demands escalate, shippers and carriers are collaborating strategically to share resources and information while also realising economies of scale. Business cycles are becoming shorter so all players have to be quick to respond to market forces and continually anticipate change.

The ability to offer top quality professional services to the industry requires knowledge, extensive experience and skill in a variety of functional and technical areas. Deloitte Cyprus stands out as the premier professional services firm to the local shipping community, with an excellent reputation in shipping worldwide.

Several of the services we provide to the shipping industry both in Cyprus and worldwide are:

  • Mergers and Acquisitions
  • Corporate finance - together with our international firm we offer services such raising of capital, privatisation and valuation of shares
  • International tax planning
  • Taxation of shipping companies
  • Feasibility studies
  • Audits
  • Accounting and Outsourcing

We are very proud of our clients as some of them represent some of the biggest shipping and ship management companies in the world.

 

Publications

  • Shipping in Cyprus
    In this shipping brochure we highlight aspects of shipping in Cyprus, outline the tax advantages of using Cyprus and set out the services that we provide for the international shipping community on the island.
  • Cyprus New Tonnage Tax System for Shipping Activities
    On April 29th 2010 the Cyprus Parliament enacted a bill introducing a new tonnage tax system in Cyprus. The new regime enters into force retroactively as per the beginning of this year and has already received EU approval.
  • Cyprus Tax Alert April 2010
    The Cyprus Parliament approved the Merchant Shipping (Fees & Taxing provisions) Law on 29 April 2010, which introduces a new tonnage tax system in Cyprus, applicable retroactively as from 1 January 2010.
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