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Cyprus has been used as an international shipping base for the last twenty years.. The laws governing the registration of ships under the Cyprus flag and shipping in general are the Merchant Shipping (Registration of Ships, Sales and Mortgages) Laws of 1963 to 1987 which are based on Part One of the British Merchant Shipping Act 1894. The success of the Cyprus’ government policy and the incentives offered in encouraging shipping activity on the island is reflected in its rapid development in recent years. The popularity of the island for the establishment of legal entities by foreign ships flying the Cypriot flag has increased greatly. Cyprus ranks fourth internationally has a maritime country and is a member of International Maritime Organisation (IMO).
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