Greece Ship & Yacht 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) can be tax-exempt under certain conditions. Furthermore, Greece provides efficient administrative services and a rich maritime tradition, enhancing the reliability and efficiency of maritime operations.
Facts & Info about: Greece Ship & Yacht 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.
Does AGPLAW assist with re-flagging to the Greek flag?
Yes. AGPLAW assists with registration and re-flagging under the Greek flag, including flag transfers, purchase closing procedures and vessel delivery documentation, subject to the applicable registration regime.
Can yachts be registered under the Greek flag with AGPLAW?
Yes. AGPLAW assists with yacht and ship registration under the Greek flag, subject to the vessel's characteristics and applicable ownership and registry requirements.
What are the ownership requirements for Greek Ship & Yacht registration?
Under the ordinary Greek registration regime, qualifying vessels may be registered where more than 50% of ownership is held by Greek nationals or legal entities, or eligible EU/EEA nationals or companies, subject to applicable establishment and management requirements. Foreign individuals or companies may also hold shares in a Greek-incorporated ship-owning company, which may own a Greek-flagged vessel where the relevant conditions are met. A separate regime applies to qualifying ocean-going vessels exceeding 1,500 GRT and requires more than 50% Greek interests in the owning company and specific ministerial approval. The appropriate route depends on the vessel and proposed ownership structure.
