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How the Cyprus which is considered FOC, emerges competetive in Martime Shipping

Discussion started by ANAND VARDHAN TIWARY 6 years ago

THE Cyprus shipping sector, broadly defined to include shipping, ship management and associated sectors, has had to cope both with the international economic crisis since 2007, and with the particularly serious economic problems of Cyprus over the past three years, and yet is coming through in good form and more competitive than ever.

The reason for this strength and resilience is the diversified structure of the shipping fleet, the upgrading and modernisation of the merchant fleet, the approval of the tax regime for shipping by the European Union, the maintenance of an attractive corporate tax regime despite changes imposed by the European Union and IMF, the position of ship management as the most important subsector and the country's status as a significant player in shipping while being an EU member state. Read more...

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