Why Choose a Cyprus Shipping Company?
Cyprus has long been recognized as a premier shipping hub, attracting businesses from around the world. A Cyprus shipping company provides shipowners, charterers, and ship managers with many benefits, including a strategic location, a favourable tax structure, and access to EU markets. Here’s why Cyprus is the ideal destination for maritime businesses. A Favourable Tax Regime One of the main benefits of setting up a shipping company in Cyprus is its attractive tax system. The country operates a Tonnage Tax System (TTS) , which is based on the net tonnage of a vessel rather than corporate profits. This taxation model significantly reduces the tax burden for shipping companies, making Cyprus a cost-effective jurisdiction. Additional benefits include: Lower Tax Liabilities : The tonnage tax system leads to reduced taxable income. Predictable Taxation : The fixed amount of tax per vessel ensures financial stability. No Tax on Dividends : Dividends distributed from shippi...