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A mortgage may be registered for any sum, in any currency, on any provisional registration of a ship, without any exchange control permission. Any mortgage or any charge against a ship must be registered either through the Registrar of Ships directly or with the Registrar’s permission through a Cyprus Consulate abroad. All stamp duties on the ship’s mortgage deed and the mortgage is fully protected as soon as it is registered. The registration of a mortgage is required for the purpose of making the mortgage a charge against the shipowning company. Upon an ex-parte application by mortgagee in the Admiralty Court an for the transfer of ownership or for the change of the status of a ship is concerned may be obtained.
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