The conference facilitated valuable discussions on the necessity of a comprehensive EU policy specifically tailored for the yachting industry. As the region rapidly emerges as a prime destination for superyachts, conversations also centered on how Cyprus can leverage its strategic position to boost its yachting sector, addressing various industry challenges and opportunities like the implementation of new technologies, environmental management, crew management, and more.

Vassilis, along with his co-panelists, shared their expertise on fiscal and legal regulations, exploring innovative solutions and strategic initiatives. Their insights highlighted the potential for Cyprus to become a leading yachting destination in the Eastern Mediterranean, provided that supportive policies and regulations are implemented effectively across the industry on a European level. Vassilis noted, “The discussion highlighted the critical importance of developing robust fiscal and legal frameworks that will strengthen Europe’s lead in the global market as well as ways to support and regulate the burgeoning yachting industry in Cyprus. Sharing the stage with such esteemed colleagues also allowed us to explore the intricacies within this sector, particularly in relation to Cyprus’s growing prominence as a yachting hub.”

For further information, please contact Vassilis Psyrras or any other member of the Admiralty & Shipping department at Elias Neocleous & Co LLC.