Recently the department of Merchant Shipping renewed the list of countries, whose certificates of competency are recognised by Cyprus under the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers, first issued in 1978.
The complete list contains now the following countries: Algeria, Argentina, Australia, Bangladesh, Belgium, Brazil, Bulgaria, Canada, Cape Verde, Chile, China, Croatia, Cuba, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Georgia, Germany, Ghana, Greece, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Ireland, Israel, Italy, Jamaica, Japan, Latvia, Lithuania, Malaysia, Malta, Mexico, Montenegro, Morocco, Myanmar, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, Portugal, Romania, Russia, Serbia, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Turkey, Ukraine, the United Kingdom, the United States, Uruguay, and Vietnam.
Latest entries on the list are Georgia, Malaysia and Uruguay. Japan and Nigeria are still being examined by the European Commission.
Cyprus continues to be one of the most attractive European jurisdictions for the registration of vessels under the island’s flag. The registration procedure has been streamlined with a wealth of information available online by the department of Merchant Shipping. The government’s determination to enhance the shipping sector in Cyprus is also evident in the application of the yacht-leasing scheme offering a favourable VAT-rate for yachts sailing in EU waters.