Presentation: "A Shipowner's Point of View"

1. Steaming ahead
from Cyprus
WISTA Med Conference
“WHY CYPRUS?”
a Shipowners point of view
23 June 2012
Le Meridien Hotel & Spa, Limassol

2. “WHY CYPRUS?”
from a Shipowners point of view

3. “WHY CYPRUS?”
from a Shipowners point of view
23 June 2012 Le Meridien Hotel & Spa, Limassol

4. “WHY CYPRUS?”
from a Shipowners point of view
The clearest bathing waters in Europe !
• Loving the sea !
• Enjoying the warm sunny climate
• Enviable unique quality of Mediterranean
lifestyle and being a European Union
Member State
• Strategically located
• Safety - the highest in Europe!
23 June 2012 Le Meridien Hotel & Spa, Limassol

5. “WHY CYPRUS?”
from a Shipowners point of view
• Surrounded by friendly
people
“Filoxenia” (Hospitable)
• Low cost of living
• Excellent medical facilities
• Common Language
Despina Sonia Martina Jane Victoria
23 June 2012 Le Meridien Hotel & Spa, Limassol

6. “WHY CYPRUS?”
from a Shipowners point of view
Telecommunications Air & Sea Accessibility
No exchange control
and freedom of Important for families:
movement of Education
foreign currency
Personal Income
Tax The Benefits:
High-income New
Resident Individuals
23 June 2012 Le Meridien Hotel & Spa, Limassol

7. “WHY CYPRUS?”
from a Shipowners point of view
A mere 14 private reasons “WHY CYPRUS?”
Home is where the Heart is
&
my heart is in Limassol !!
23 June 2012 Le Meridien Hotel & Spa, Limassol

8. “WHY CYPRUS?”
from a Shipowners point of view
• European Union Member State
• Low set up and operating
costs for shipping companies
• Availability of highly qualified
managerial, technical and
administrative staff
• Cyprus Flag of Excellence
• International Maritime Centre
23 June 2012 Le Meridien Hotel & Spa, Limassol

9. “WHY CYPRUS?”
from a Shipowners point of view
• Lowest Corporation Tax in the EU
• Special Taxation for Shipping
companies

10. “WHY CYPRUS?”
from a Shipowners point of view
Highlights of the new Tonnage Tax Scheme (TTS):
• Based on an annual Tonnage Tax as
opposed to ordinary Corporation Tax. The
tax is charged on tonnage of the vessels
• Owners of Cyprus flagged vessels are
automatically taxed based on their tonnage
• Shipowners, Charterers and Shipmanagers participating in the TTS are also
exempt from Income Tax or any other tax or levy on dividends paid to
Shareholders, interest earned on working capital and on any profit made from the
sale of a qualified ship. Qualified ships are employed in international maritime
transport.
23 June 2012 Le Meridien Hotel & Spa, Limassol

11. “WHY CYPRUS?”
from a Shipowners point of view
• Local Banks
• Cyprus, Where?
• Turkish Ban on Cyprus
ships
• Anti Piracy Bill
• Modern and efficient legal,
accounting and banking
services
• Liberal Direct Foreign
Investment Regime

12. THANK YOU !
23 June 2012
Le Meridien Hotel & Spa, Limassol