News & Updates

Here is our latest news from Fairfax Cyprus


Cyprus has always been a magnet for shipping companies and is home to some of the world’s leading names in the global shipping industry. As an internationally renowned shipping sector, Cyprus offers highly competitive shipping taxation, an advanced infrastructure and countless other strategic advantages that continue to attract numerous international investors to the island for ship management, ship ownership and ship chartering.

The Cypriot shipping industry continues to grow at a sustainable pace and the Cypriot President, Nikos Anastasiades, has stipulated that the Cyprus Government intends to focus carefully on the future of this sector in order to safeguard its continued growth.

This sector has upheld the Cypriot economy during its challenging financial times and has played a pivotal role in Cyprus’ recovery following the economic crisis of 2012 that resulted in a €10 billion international bailout.

Earlier this month, 700 shipping personalities from across the globe gathered in Cyprus for the biennially Maritime Cyprus conference in Limassol. The conference, which first started in 1989, aims to shed light on matters related to shipping politics and economics, regulators vs. industry and the world economy’s relationship to the shipping cycle.

Fairfax provides outsourced payroll services to a growing number of shipping and marine companies that are choosing to outsource their payroll requirements in Cyprus.

Fairfax is a highly established firm that possesses the experience and knowledge needed to effectively process complex payroll functions in an efficient and diligent manner. The company, which is headed by Director of Accounts & Payroll, Nicoletta Demetriou FCCA & member of The Institute of Certified Public Accountants of Cyprus and ex Payroll Champion of a big 4 firm, has all the tools in place to process outsourced bookkeeping, accounting and payroll services for local and international businesses with a presence in Cyprus.

These services are conducted quickly, accurately and in compliance with government and employment regulations, helping businesses, whether in shipping or other sectors, to save time and money whilst remaining up-to-date with any necessary changes in employment law or legislation.

Fairfax has a wide client base ranging from fresh start-ups to globally recognised institutions, many of which are in the shipping industry. All services are carried out to the highest of standards in a cost-effective and personalised approach.

To discover more about Fairfax’s outsourced payroll services please contact +357 25 55 80 25 or email