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06 November 2019
The Shipping Deputy Ministry recently issued the Merchant Shipping (Fees and Dues with respect to Ocean Going Commercial Cyprus Ships) Regulations 2019 (Administrative Act 322/2019), which contain the new fees and charges payable for ocean-going commercial ships registered in Cyprus applicable as of 27 September 2019.
The regulations define 'ocean-going commercial Cyprus ships' as Cyprus ships which carry out their usual activity outside Cyprus's territorial sea for commercial purposes.
As explained in the ministry's Circular 16/2019, the aim of the new regulations is to:
Further, certain fees that were considered obsolete have been abolished.
In particular, the regulations cover fees concerning the registration of ships and other transactions with the shipping registry (eg, ship certificates and applications for the transfer of ownership or name change of a ship). The regulations further set out fees and dues on:
Further, the regulation also set out the dues to be paid for the survey of ships on application by shipowners and the provision of services.
For further information on this topic please contact Costas Stamatiou or Yiota Georgiou at Elias Neocleous & Co LLC by telephone (+357 25 110 110) or email (email@example.com or firstname.lastname@example.org). The Elias Neocleous & Co LLC website can be accessed at www.neo.law.
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