Admiralty and Shipping

Papantoniou & Papantoniou LLC > Admiralty and Shipping

Admiralty and Shipping

 

Papantoniou & Papantoniou LLC is actively involved in Admiralty and Shipping law. The firm offers a range of services to shipowners, freight forwarders, insurers, charterers and has experience on resolving legal disputes that arise in the field.

 

Cyprus has a long history, as early as 1963, on the economic and political importance of shipping.Cyprus is one of the most attractive and popular destinations for shipping entrepreneurs. The main reason is the islands’ strategic location, which is the crossroad between three continents (Europe, Asia, Africa which includes Middle-East). Therefore, Cyprus now is a developing international shipping centre.

 

A number of fiscal and economic advantages are also available, such as the competitive ship registration costs and annual tonnage taxes, the favorable tax regime for ship management, the low ship operation costs and the availability of competent local employees. All these prompted the establishment of local companies by many European entrepreneurs with fully fledged offices in the island.

An important aspect on the provision of corporate finance services that Papantoniou & Papantoniou LLC offers is to act as legal advisors to companies that wish to be listed in the Emerging Companies Market (E.C.M).

“Open Registry” (one of two countries in the European Union), allowing non-Cypriot citizens to register ships under the Cypriot flag

Advantages:

 

  • Excellent geographical position at the crossroads of Europe, Africa and the Middle East
  • “Open Registry” (one of two countries in the European Union), allowing non-Cypriot citizens to register ships under the Cypriot flag
  • Advanced maritime infrastructure (two deep sea multi-purpose ports in Limassol and Larnaca)
  • Sound international relations
  • Favourable taxation regime and other benefits for ship-owners and crew members
  • Low ship registration fees
  • No income tax, estate duty or capital gains tax for Cyprus-registered ships
  • No stamp duty on documents or mortgage deeds
  • Anonymity of beneficial owners through nominee or trustee shareholders
  • Recognition of Competence Certificates from many countries
  • Easy deletion from the Cyprus Shipping Register

As a member of the European Law Firm, Papantoniou & Papantoniou LLC is on the advantageous position to provide legal services in the shipping law field everywhere around Europe and Russia. Also, due to our close co-operation with other law firms around the world, our network has expanded to other key countries such as the US, India, China and Thailand.

 

The most important services that the firm provides, without being exhaustive, are the following:

 

  • Formation of Shipping Companies
  • Purchase and/or sale of vessels
  • Charter agreements
  • Ship registration
  • Maritime commerce
  • Choice of flag
  • Loss of or damage to cargo
  • Freight disputes
  • All related company law and tax matters

As a member of the European Law Firm, Papantoniou & Papantoniou LLC is on the advantageous position to provide legal services in the shipping law field everywhere around Europe and Russia.