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Intellectual Property - IP Box

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. The new Cyprus IP Box provides for the following:


  • 80% of profits generated as royalties are exempted from corporate tax, the remaining 20% is subject to the normal corporate tax rate of 12.5%, thus the effective tax rate for IP Rights derived profit is 2%.
  • The registered IP does not need to be Cyprus registered in order to benefit from the Cyprus IP Box.
  • Any expenditure of a capital nature for the acquisition or development of IP is claimed as a tax deduction in the year in which it was incurred and the immediate four following years on a straight-line.

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 IP tax regime covers the following non-exhaustive list:

  • Copyrights, which may take any of the following forms: Literary works, Dramatic works, Musical works, Scientific Works, Artistic Works, Sound recordings, Films, Broadcasts, Published editions, Databases, Publications, Software programmes;
  • Patented inventions;
  • Trademarks and services marks, designs and models that are used or applied on products.

Our Law Firm provides IP tax planning and legal advice, and assists clients for the acquisition, registration and protection of their intellectual property rights.

Intellectual property rights include:


  • Trademarks
  • Copyright
  • Design
  • Patents
  • Local & international registration of intellectual property
  • Infringement & passing off actions
  • Licencing intellectual property and technology
  • Enforcement of intellectual property
  • Advise on tax related aspects

 

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