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21 August 2019
On 29 March 2017 the United Kingdom notified the European Council of its intention to leave the European Union in accordance with Article 50 of the Treaty on European Union. In an effort to minimise any possible disruption to the shipping industry deriving from Brexit, the Cyprus Shipping Deputy Ministry has referred interested parties to the European Commission's Notices to Stakeholders.(1)
However, the Shipping Deputy Ministry has emphasised that affected parties must also make their own preparations for the United Kingdom's withdrawal from the European Union.
The Shipping Deputy Ministry has also underlined that where new authorisations, licences or certificates will be required, each party will be responsible for applying in good time.
British nationals and British companies that own Cyprus-registered vessels should consider whether they need to take steps to ensure that they will continue to meet the requirements set out by the Merchant Shipping (Registration, Sale and Mortgage of Ships) Law in relation to the ownership of a Cyprus-flagged ship after Brexit.
For further information on this topic please contact Costas Stamatiou, Vasileios Psyrras or Andreas Christofides at Elias Neocleous & Co LLC by telephone (+357 25 110 110) or email (firstname.lastname@example.org, email@example.com or firstname.lastname@example.org). The Elias Neocleous & Co LLC website can be accessed at www.neo.law.
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