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06 April 2016
In November 2015 the Cyprus government approved a scheme to subsidise practical training on board ships for deck and engine cadet officers. The Department of Merchant Shipping (DMS) recently announced the detailed terms of the scheme and the procedure for claiming reimbursement.
Eligible employers are owners of Cyprus-flagged vessels or owners of foreign-flagged vessels, charterers or ship managers who are taxed under the Cyprus tonnage tax system. The vessel must perform international voyages and its gross tonnage must be at least 1,500 tonnes.
The vessel must perform international voyages and its gross tonnage must be at least 1,500 tonnes.
In order to qualify for funding under the scheme, the cadet officer must be a permanent resident of Cyprus and a graduate or student of a recognised merchant marine academy or a marine engineering, mechanical engineering or naval architecture university faculty. He or she must not be already receiving funding for practical training on board ships from the vessel's flag state or any other state.
The cadet officer must:
The funding period is six months for each cadet officer per year. The total funding period for any individual is limited to 12 months and must be completed within three years from the first funding period.
The scheme is limited to 60 graduates or students of merchant marine academies and five graduates or students of universities per year. It will provide a subsidy of €600 per month per cadet officer and a contribution of €250 to the cost of basic training and ship security awareness training for the graduates or students of universities. Applications for reimbursement must be submitted to the DMS with the prescribed supporting documentation. The employer must contribute at least €200 per month to each cadet officer's salary and, if the vessel flies the Cyprus flag, the employer must also pay the prescribed contributions to the Social Insurance Department based on the total amount of the salary.
For further information on this topic please contact Costas Stamatiou at Andreas Neocleous & Co LLC by telephone (+357 25 110 000) or email (firstname.lastname@example.org). The Andreas Neocleous & Co LLC website can be accessed at www.neocleous.com.
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