ATHENS: Greece shipping companies are mulling a move to Cyprus as uncertainty over the future of their offshore tax status in Greece hangs in the balance, the director general of the Cyprus Shipping Chamber has said.
Thomas Kazakos told press that Greek companies had been enquiring with maritime service providers about tax and administration issues in Cyprus. “Bearing in mind the developments in Greece, it is a normal consequence that some ship owners will look into … having a second base in Cyprus, as apart from the national, social, and religious connection, there is also the shipping relationship we have had for years,” Kazakos told the Cyprus News Agency.
He added he does not expect Cyprus affected by any negative developments in Greece and that the island is the only open registry in the Eurozone.
