On the 27th of September 2019, the Council of Ministers issued the Merchant Shipping (Fees and Dues with respect to Ocean Going Commercial Cyprus Ships) Regulations of 2019 (the “Regulations”). The Regulations were published in the Official Gazette of the Republic of Cyprus and they repeal and replace the fees and dues with respect to ocean going commercial Cyprus ships as provided in the First Schedule of the Merchant Shipping (Fees and Taxing Provisions) Law 1992 to 2007, which were in force pursuant to section 65 of the Merchant Shipping (Fees and Taxing Provisions) Law of 2010 (44(I)/2010). The Regulations define “ocean going commercial Cyprus ship” as a Cyprus ship which carries out its usual activity outside the territorial sea of the Republic for commercial purposes. The new fees are applicable from the 27th of September 2019.
On the 2nd of October 2019, the Deputy Ministry of Shipping, issued a circular (Circular No.16/2019) concerning the change of the said fees and dues. It stated that the purpose of the adoption of the Regulations is to simplify the fees and dues to reflect the current shipping needs. Specifically, the Regulations round up the amounts in order to facilitate the payment procedure and abolish fees that may be considered obsolete. It further stated that an amendment to the fees and dues of non-ocean-going commercial Cyprus ships will be adopted in the upcoming months.
You may access the new Regulations with the new Schedule of the applicable fees, as well as the Circular of the Deputy Ministry of Shipping, at the following links respectively:
For any further enquiry or assistance please contact our Shipping Department or your usual contact at Elias Neocleous & Co LLC.