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A mortgage may be registered for any sum in any currency on any provisional registration of a ship. Any mortgage or charge against a ship (but not part of her) must be registered either through the Registrar of Ships directly or with the Registrar’s permission through a Cyprus Consulate abroad. The mortgage is fully protected as soon as it is registered. The registration of a mortgage is required for the purpose of making the mortgage a charge against the shipowning company. Upon an ex-parte application by the mortgagee in the Admiralty Court an order as far as registration for the transferring of ownership or the change of the status of a ship is concerned may be obtained. The fees payable at the Companies registry for the registration of mortgage are CYP300.00. No fees are payable for the discharge of a mortgage.
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