According to Cyprus Merchant Shipping Law a ship shall be considered to be a Cyprus Ship if more than one half of the shares are owned by a Cypriot or by a corporation established and operating under the laws of Cyprus and having it's registered office in Cyprus.
Application

An application must be submitted by a Cypriot Lawyer to the Minister of Communications and Works through the Registrar of Ships for permission to register the Ship in the Cyprus Registry. The application must provide the following particulars:

(a) Name of the Company.
(b) Names of directors and shareholders.
(c) Present name and present flag of the ship.
(d) Name under which the ship is proposed to be registered.
(e) Particulars of ship, year of built etc.
(f) Previous names of ship, stating changes if any.
(g) The part where the ship shall be at the time of the registration.
(h) The intended trading area of the ship.
(i) The Cyprus consulate abroad where the registration will take place.
(j) The classification society of the vessel.

Provisional Registration

Ships that fulfil the requirements for registration under the Cyprus flag and are not in a Cyprus port at the time, may be provisionally registered for a period of six months with an option of renewal for another three months.
Also some Ships may be provisionally registered at first, due to the long and slow process of permanent registration.

Permanent Registration

Permanent Registration is effected by the Registrar of Cyprus Ships either at once or after the expiration of the nine month period of provisional registration, and as soon as all the required documents are duly submitted to the Department of Merchant Shipping. A ship may also be permanently registered without being provisionally registered at first, if she calls at a Cyprus port.
Registration Procedure

The conditions for approval of the provisional registation of a ship under 17 years old are:

(a) An application, for permission to register the ship in the Cyprus Register, addressed to the Minister of Communications and Works through the Registrar of Ships.
(b) The Classification Society's telex or fax confirmation to the Registrar stating that the ship maintains her class and maintains all her Solas and Load Lines certificates, and that the said Society has no objection to re-issue the said certificates on behalf of the Cyprus Government. The said Society must be recognized by the Government of Cyprus.
(c) The Accounting Authority's telex or fax confirmation stating that they shall contract with the company and clear the radio maritime accounts of the ship. The said Authority must also be approved by the Government of Cyprus.
Once all the requirements have been satisfied with regard to the registration, the applicant must deposit with the relevant Embassy or Consulate certain documents the most important of which are:

(i) Certificate of deletion of the ship from her previous Registry or confirmation by the Registrar as to the ship's ownership and freedom of encumbrances.
(ii) Bill of sale duly executed, notarially attested and/or legalised by a consul of the country of previous Registry or by a Cyprus Consul or apostilled.
(iii) Corporate resolutions of the company resolving the purchase of the ship and appointment of one or more attorneys who will attend to the registration of the ship and will sign the relevant Forms.
(iv) Power of Attorney to be executed pursuant to the above resolutions under the Common Seal of the Company. This power of attorney may be signed by one or two directors, depending on the Articles and must be notarially attested and/or legalised by a Cyprus Consul or apostilled.
(v) Presentation of the forms: M.S.3 (Declaration of Owneship) and M.S.10 (Appointment of Ship's Husband)
(vi) Application of Radio License.
(vii) Copy of the current tonnage certificate of the ship.

Upon approval of all the above, the Registrar of Cyprus Ships gives instructions, usually by fax, telex or cable to the Embassy on Consulate named by the applicant, to proceed with the provisional registration of the ship, on collection of all fees.

In the case of permanent registration the following additional documents have to be submitted to the Registrar:

(i) Cyprus Tonnage Certificate or the International Tonnage Certificate 1969.
(ii) Certificate of Survey.
(iii) Application for permanent registration.
(iv) Copy of the agreement signed with the vessel's Radio Accounting Authority.

The Registrar, upon receipt of the above, will issue the ship's Carving and Marking note which will contain inter alia the number and port of registry that must be carved on the ship.

When the said Note is duly completed and signed the Registrar will issue the Certificate of Cyprus Registry indicating that the ship is permanently registered under the Cyprus flag.

Finally I attach hereto list of fees regarding shipowning companies, vessels, mortgages etc as well as list of fees payable to the Cyprus Registry (appendices 1 and 2 respectively).