Shipping 2026

CYPRUS Trends and Developments Contributed by: Adam Montanios and Nicolas Montanios, Montanios & Montanios

SLLCs Following the efforts of the Shipping Deputy Ministry and the private shipping industry in Cyprus, a new law regulating the creation of the SLLC was enacted. This legal entity will only be used for the ownership and operation of a vessel registered under the Cyprus flag. The incorporation of the SLLC and all its administra - tion will be done solely by the Shipping Deputy Minis - try, as part of its one-stop shipping centre programme. Following the engagement of new personnel by the Shipping Deputy Ministry, the completion of the digi - talisation programme for the SLLC and the publication of the notifications supplementing the new law, it is expected that the new SLLCs will be operational by mid-2026. Advisory Committees to the Shipping Deputy Minister The Shipping Deputy Ministry has also established two high-level committees to assist the Deputy Min - ister in the development of Cyprus shipping. The first, the Advisory Committee on Competitiveness and Quality Enhancement of the Cyprus Flag, consists of eight members, all of which are ship-owners who fly the Cyprus flag and have all been elected by fellow ship-owners. The second, the Advisory Committee on Competi - tiveness of the Cyprus Maritime Cluster, consists of ship-owners and leading shipping executives based in Cyprus, and was elected by the community of Cyprus- based shipping companies. The Shipping Deputy Ministry is confident that the wealth of knowledge and experience brought to the Committees by such members will undoubtedly con - tribute to the growth and excellence of the Cyprus Maritime Sector. Proposed amendment of the Cyprus Merchant Shipping (Registration of Ships, Sales and Mortgages) Law The Shipping Deputy Ministry is working on a num - ber of amendments to the Cyprus Merchant Shipping (Registration of Ships, Sales and Mortgages) Law

• operational excellence. The programme is already partly in operation, and it is expected that by mid-2026 all the services of the Shipping Deputy Ministry will be provided digitally in a streamlined and paperless environment. Furthermore, a mobile phone application (CYSHIP) will soon be available, with various digital services being accessible to its users directly from their mobile phones. One-Stop Shipping Centre The Shipping Deputy Ministry also launched an inter - nal service to cater to most requirements of the Cyp - riot shipping cluster. The central aim of this initiative is to centralise the provision of a number of govern - ment services associated with the shipping industry, and to enable the Shipping Deputy Ministry to deal with shipping-related transactions, which were previ - ously managed by different government departments or ministries. The first matter recently incorporated into this pro - ject relates to the immigration procedure needs of the overseas personnel of shipping companies based in Cyprus. Following special arrangements between the Shipping Deputy Ministry and the Ministry of Interior, all applications for work permits or for registration of members of shipping companies can be submitted through (and obtained from) a newly formed office at the Shipping Deputy Ministry. The next pivotal step in the development of the “one- stop shipping centre” is its expansion into handling matters relating to the incorporation and administra - tion of shipping limited liability companies (SLLCs) under the recently enacted law relating to the estab - lishment and operation of such companies (see below). The ultimate aim is for other matters relating to the needs of shipping companies based in Cyprus (eg, tax office registration and social insurances matters) to eventually be consolidated and handled directly through the Shipping Deputy Ministry.

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