Ship-Owning Companies · Tonnage Tax · Cyprus Flag
Shipping and Maritime
Audit, tax, and corporate services for ship-owning companies and shipping groups — utilising Cyprus's world-class tonnage tax regime and the third-largest ship registry globally.
Tonnage Tax Cyprus Flag Ship-Owning SPVs Charter Income Manning Companies
Why Cyprus
Cyprus forShipping
Specialist audit, tax, and advisory services for Shipping and Maritime — combining deep technical expertise with genuine knowledge of Cyprus's regulatory and tax environment.
Speak with our team
Cyprus advantages
15% CIT — a competitive EU corporate tax rate
3% effective rate on fully qualifying IP income via the IP Box, subject to nexus and facts
Generally no Cyprus withholding tax on outbound dividends and interest, subject to applicable exceptions; royalties require a separate place-of-use and jurisdiction review
0% capital gains tax on disposal of shares
65+ double tax treaties providing cross-border flexibility
EU member state — full single market access and passporting
English Common Law — familiar to international investors
What we provide
Services for Shipping and Maritime
Statutory Audit
IFRS audits for ship-owning companies — vessel depreciation, drydocking provisions, charter income.
Tonnage Tax Advisory
Cyprus tonnage tax regime planning — qualifying vessels, calculations, elections, and compliance.
Corporate Services
Cyprus SPV formation for vessel ownership, transfer coordination, and secretarial.
Financial Reporting
IFRS statements — vessel capitalisation, drydocking component approach, and charter revenue recognition.
Tax Services
CIT compliance for Cyprus shipping entities, TP for management fees, and multi-jurisdiction coordination.
Group Consolidation
Consolidation of multi-vessel shipping groups — pool arrangements and time charter elimination.
Case studies
Representative engagements
Ship-Owning Group - 4 Bulk Carriers
Limassol-based group needed annual statutory audits, financial statements, and tonnage tax compliance.
→ Annual audits completed — tonnage tax compliance confirmed
→ IFRS 16 bareboat charter accounting implemented
→ Management fee TP documented and filed
Ship Management Company - 12 Vessels
Cyprus ship management company needed audit and IFRS 15 revenue recognition advice.
→ Annual audit completed — management fee revenue recognition agreed
→ ISM compliance reviewed — no qualification
→ Recommended as auditor to 3 additional vessel-owning clients
Ready to discuss yourrequirements?
All enquiries are treated confidentially. Fixed-fee proposal where appropriate.