Cyprus, is developing into a key player in the maritime industry; through its structured administrative, legal and financial reporting framework, as well as its sound maritime infrastructure,favorable tax regime and beneficial tonnage tax system.
Many of the ship management companies operating on the island rank among the largest of their kind in the world and it is estimated that they manage over 20% of the world’s third party management fleet. Cyprus ranks 10th amongst the global merchant fleets and 3rd in the European Union.
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