Ranked in The Legal 500 EMEA 2026 for Maritime and Admiralty in Cyprus.
"Mylonas & Associates combines sector expertise with practical solutions. Highly responsive and efficient, balancing technical knowledge with commercial realities." Client testimonial, The Legal 500 EMEA 2026.
Shipping lawyers in Cyprus
Cyprus is one of the world's leading ship management centres and operates an EU-approved tonnage tax system. We advise owners, managers and financiers on the legal, regulatory and commercial questions that decide whether a vessel, a fleet or a shipping group is structured to operate without friction.
Our office in Limassol sits at the centre of the Cyprus maritime cluster, close to the Shipping Deputy Ministry and to the ship management companies we work alongside.
How we help
- Registration under the Cyprus flag, including parallel (bareboat) registration in and out
- Ship finance and mortgages, from term sheet to registration of security
- Sale and purchase, newbuilding and delivery
- Tonnage tax and the structuring of owning, managing and chartering entities
- Sanctions and compliance reviews for vessels, counterparties and cargoes
- Crew, flag state and regulatory matters, including EU ETS and FuelEU Maritime
Selected experience
- Acting as Cyprus legal counsel to International Maritime Industries (IMI) of Saudi Arabia, including the establishment and ongoing advisory of the GMF Global Maritime Fund
- Acting as legal advisers to Pelagic Partners and the Pelagic Fund, a Cyprus shipping RAIF registered with the Cyprus Securities and Exchange Commission
- Represented a shipowning group on a senior secured term loan facility for the acquisition of vessels, including the collateral assignment of earnings and mortgages
- Acted for shipowners and bareboat charterers on parallel flag registration in Liberia and Malta
Common questions
Can a vessel be registered under the Cyprus flag through parallel registration?
Yes. Cyprus allows parallel (bareboat) registration both into and out of the Cyprus flag, so that a vessel may fly the Cyprus flag while remaining registered in another state, or the reverse, subject to the conditions of both registries.
What is the Cyprus tonnage tax system?
Qualifying ship owners, charterers and ship managers may elect to pay tax based on the net tonnage of the vessels instead of corporate income tax on shipping profits. The system is approved by the European Commission and applies subject to conditions, including flag requirements.
Your contact
Andreas Mylonas, Managing Partner, leads our shipping work, with senior-level involvement in every mandate. Discuss your vessel or fleet with our shipping team.