Cyprus is the 3rd-largest ship registry in the EU and 11th globally, with over 1,000 vessels under Cyprus flag. The tonnage tax regime taxes ship operators on net tonnage (not income), making it highly favorable. Limassol is a major ship management hub with over 200 ship management companies. Our platform handles tonnage tax calculations, crew payroll with seafarer tax exemption, port disbursement accounts (PDA), and Cyprus Flag administration filings.
You manage 12 vessels under Cyprus flag — how do you calculate tonnage tax?
Tonnage tax based on net tonnage × tax rate (€0.01-€0.18 per 100 net tons per day). Auto-calculated per vessel per day at sea, aggregated annually. Replaces corporate income tax on shipping activities.
Crew payroll for 200 seafarers across 12 vessels — Cyprus seafarer tax exemption applies?
Cyprus seafarer tax exemption: 0% income tax for seafarers working ≥183 days at sea on Cyprus-flag vessels. Auto-applied to payroll, social insurance contributions calculated separately (employer 8.3%, employee 8.3%).
You're a ship manager handling P&I + H&M insurance + crewing for a Greek shipowner.
Multi-principal ledger: each shipowner gets isolated cost center, intercompany markup for management fee (typically 5-7%), audit trail per vessel. P&I premiums tracked per cover year.
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