Restrictions as to the registration of a ship

In order to comply with European Union laws and regulations the Ministry of Communications and Works (Department of Merchant Shipping ) imposed as from 1 January, 2000 certain restrictions regarding the registration of ships under the Cyprus flag.

According to the new regulations:

• Vessels of any type and tonnage (except fishing vessels) not exceeding 15 years of age may be registered in the Cyprus Register of ships.

• Age
  The age of a vessel is calculated by deducting the year, which its keel was laid from the year when the application for registration of the vessel was filed with the Registrar of Cyprus Ships. The year of conversion or modification or major reconstruction and the year of completion or delivery of a vessel are considered irrelevant and are ignored.
• Ownership
  Applications for registration must be accompanied by all relevant documentary evidence attesting compliance with the various conditions, which need to be fulfilled at the time of the provisional registration (or the directly permanent registration, as the case may be.)

• Cypriot citizens
• Persons who have their ordinary residence in Cyprus for the last twelve months, have been issued with a work permit and are liable to Cyprus tax on income.

• Special Inspection for vessels under 15 years of age and
• Special Inspection for vessels over 15 years of age

• Conditions after registration Te conditions under which a vessel is registered continue to be in force irrespective of any subsequent amendments of the government policy. The owner o bareboat charterer, as the case may be however may apply for substitution of the conditions imposed initially with those stipulated in any later government policy, for vessels in the age group of the vessel at the time of its registration.

• Deletion of Vessels
  A vessel is deleted from the Cyprus Registry of Ships in the following cases: - if more than half of the shares are transferred by way of sale, or death, or any other legal cause to a company or person not entitled to own a Cyprus ship according to Cyprus Law

• if the Council of Ministers lift up the nationality of th4 ship
• if the ship is deemed total loss
• if the ship is dismantled
• if there is lack of any information about ther ship for six months in circumstances which justify probable loss of th4 ship

• the certificate of registration or a declaration that such certificate shall be submitted within a reasonable time
• the bill of sale
• the deletion of the mortgage (if any)

• Transfer of Ownership

• By way of contractual transfer (bill of sale)
• By way of force sale,
• Due to death or bankruptcy of the owner (if owned by a physical person)
• By any other legal cause.

• Mortgages A mortgage may be registered for any sum in any currency on any provisional registration of a ship without any exchange control permission. Any mortgage or charge against a ship (but not part of her) must be registered either through the Registrar of Ships directly or with the Registrar's permission through a Cyprus Consulate abroad. Once the relevant stamp duties are paid on the ship's mortgage deed, the mortgage is fully protected as soon as it is registered. The registration of a mortgage is required for the purpose of making the mortgage a charge against the shipowning company.
  
  Upon an ex-parte application by a mortgagee in the Cyprus Admiralty Court an order as far as registration for the transferring of ownership or to change of the status of a ship is concerned may be obtained. The fees payable at the Registrar of Companies for the registration of a mortgage are CYP300. No fees are payable for the discharge of a mortgage.

• Ship Owning companies
• Ship Management
• Companies
• Registration
• Benefits
• Provisional Registration
• Permanent Registration
• Parallel tag
• Restrictions to registration