Greece Ship Registration
Greece, has a rich maritime tradition and an extensive coastline.
Registering a ship under the Greece flag offers significant advantages, making it an attractive option for maritime activities. Key benefits include (a) Greece’s status on the White List of the Paris and Tokyo MoUs, indicating high safety and compliance standards, (b) strategic location with access to major shipping routes and ports, (c) a favorable tonnage tax system, where tax is based on the ship's net tonnage rather than profits, and (d) no tax on profits from the operation of a Greece-registered vessel. Furthermore, Greece provides efficient administrative services and a rich maritime tradition, enhancing the reliability and efficiency of maritime operations.
Facts & Info about: Greece Ship Registration
- Ownership: Ships must be owned by Greek individuals or companies. Foreign entities can also own ships through a Greek company.
- Company Formation: The owning company must be registered in Greece, typically as a Societe Anonyme (SA).
- Directorate: Must comply with local corporate governance requirements.
- Resident Agent: Not explicitly required.
- Office Address: The company must have a registered office in Greece.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections are mandatory.
- Financial Statements: Submission of annual financial statements and other regulatory documents.
- Tonnage Tax System: Tax is based on the ship's net tonnage rather than its profits.
- Income Exemptions: Income from the operation of Greek-registered vessels can be tax-exempt under certain conditions.
- Capital Gains: No capital gains tax on the sale or transfer of a Greece-registered vessel or the shares of a shipping company.
- Registration Process: Typically takes 2-3 days for provisional registration and several weeks for permanent registration.
- Maritime Code: Governs the registration, sales, and mortgages of ships in Greece.
- Tonnage Tax Law: Regulates the taxation system based on tonnage rather than profits.
- Flag State Control: Greece maintains high standards of safety, security, and environmental protection.
- Reputation: Greece is on the White List of both the Paris and Tokyo MoUs.
- Support Services: Greece offers comprehensive maritime services including management, legal, and logistical support.
- Strategic Location: Key location in the Mediterranean Sea. Greece’s strategic location offers advantages for global shipping operations.