dms.gov.cy
An increasing number of Greek shipowners are choosing the Cypriot Ship Register, adding to the fleet of Greek-owned ships that have already raised and dominated the Cyprus flag, Cypriot officials say.
During Posidonia 2026, which concludes on Friday evening at the Metropolitan Expo center in Athens, officials told Kathimerini that their country’s flag is preferred thanks to its considerable comparative advantages to Greek shippers.
Such advantages include the absence of registration or mortgage fees, the taxation system that is based on net tonnage and not on profits – offering stability and legal certainty – and the absence of restrictions on crews.
Other reasons include the fact that the Cypriot register is an open one, with rapid registration procedures, along with its comprehensive legislation against piracy that protects ships flying the Cyprus flag, said Eliza Neophytou, maritime affairs officer at the Cypriot Deputy Ministry for Shipping.
