Cyprus is a member of the World Intellectual Property Organization (WIPO) and also of other International Conventions and Treaties.
In May 2012, tax amendments have been voted, which are now more important for companies whose one of their main activities is Intellectual Property.
- 80% of profits generated as royalties are exempted from corporate tax
- 20% will be subject to the normal corporate tax rate of 12.5%
This means that the effective tax rate for IP Rights derived profit is 2%.
The definition of Patent & Intellectual Property rights has been amended to correspond to the meaning of the local Patent Rights Law of 1998, the Intellectual Property Law of 1976 and the Law regarding Trademarks.
The new amendments will attract investment from overseas and make Cyprus more attractive for IP holders and developers for registering their IPs.
Our Law Firm provides legal advice and assists clients for the acquisition, registration and protection of their intellectual property rights.
Intellectual property rights include:
- Local & international registration of intellectual property
- Infringement & passing off actions
- Licencing intellectual property and technology
- Enforcement of intellectual property
- Advise on tax related aspects