BSM Cyprus was the first shipmanagement company incorporated on the island more than 45 years ago in 1972. Cyprus was chosen due to its ideal geographical location as a “gateway” to Europe and the Middle East. Further, the Cyprus flag taxation of shipmanagement companies under the tonnage tax system instead of corporation tax is an ideal asset to any shipmanager.
Since its establishment, the clear focus of BSM Cyprus has been on the quality of crew serving onboard customers’ vessels and the provision of highly educated and properly trained personnel.
Recognising the importance of seafarer training, the new Maritime Training Centre was launched in the heart of Limassol in 2013, replacing the Hanseatic Marine Training School founded back in 1983, and has recently been further upgraded to provide advanced full mission bridge and engine room simulator capability.