Shipping 2026

CYPRUS Law and Practice Contributed by: Kyriacos Scordis and Sofi Mylona, SCORDIS PAPAPETROU & Co LLC

into Cyprus’s legislation). This notification addressed to the MAIC should include details about the ship’s condition, crew status and any injuries, deaths or casualties. The Marine Accidents and Incidents Investigation Law of 2012 gives the MAIC extensive powers, including access to any relevant area or casualty site and to any evidence or witnesses. However, according to SDM Circular 17/2014, the SDM will continue to be responsible for investigating marine accidents for the following types of ships: • ships not propelled by mechanical means, wooden ships of primitive build and pleasure yachts/crafts not engaged in trade, unless they are or will be crewed and carrying more than 12 passengers for commercial purposes; and • fishing vessels with a length of less than 15 metres. 1.3 Domestic Legislation Applicable to Ship Registration All matters relating to the registration of ships and related transactions in the Register of Cyprus Ships or in the Special Book of Parallel Registration are governed by the Merchant Shipping (Registration of Ships, Sales and Mortgages) Law of 1963, as amend - ed, and by the provisions of the Government Policy on the Registration of Ships under the Cyprus flag. Applications for the registration of ships and for related transactions in the Register of Cyprus Ships or in the Special Book of Parallel Registration must be submitted to the Registrar of Cyprus Ships (the “Registrar”). The provisional registration of ships and other transactions (other than permanent and bare - boat-charter registration) may also be effected abroad by a consular officer of the Republic of Cyprus upon instructions issued by the Registrar. In such cases, the transactions are recorded by the Registrar in the Register as from the date and time they were effected by the consular officer. 1.4 Requirements for Ownership of Vessels A ship may be registered under the Cyprus flag if: • more than 50% of the shares of the ship are owned by Cypriot citizens or by citizens of other member

states of the European Union (EU) or the Euro - pean Economic Area (EEA) (who, in the instance of not being permanent residents of the Republic of Cyprus, will have to appoint an authorised repre - sentative in the Republic of Cyprus); or • 100% of the shares of the ship are owned by one or more corporations established and operating in accordance with the laws of the Republic of Cyprus or any other EU or EEA member state that has its registered office, central administration or principal place of business within the EEA, or by corporations registered outside the EU or the EEA but controlled by Cypriot citizens or citizens of a member state. If the corporation is not incorporated and located in Cyprus, either it must appoint an authorised repre - sentative in Cyprus or the management of the ship must be entrusted in full to a Cyprus or EU ship-man - agement company located in Cyprus. Applications for the registration of ships must be made through a Cypriot lawyer, and the ship must be surveyed by an approved classification society at the time of registration. The corporation is deemed to be controlled by Cypri - ots or citizens of any other member states when more than 50% of its shares are owned by Cypriots or citi - zens of any other member states, or when the majority of the directors of the corporation are Cypriot citizens or citizens of any other member state. An authorised representative may be a Cypriot citizen or a citizen of any other member state who is resident in Cyprus, or a partnership/corporation/branch that is established in accordance with the laws of Cyprus and has its place of business in Cyprus. Vessels under construction are registrable in Cyprus. Also, the Government Policy on the Registration of Ships under the Cyprus flag outlines additional requirements and conditions aimed at ensuring safe, secure and efficient shipping while protecting the interests of Cyprus ships and their owners, charterers, managers and operators. These requirements include the following.

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