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Cyprus one of the most tax efficient regimes in EU for Intellectual Property Rights

Michalaki, Pitsillidou Law Firm > English Articles  > Cyprus one of the most tax efficient regimes in EU for Intellectual Property Rights

Cyprus one of the most tax efficient regimes in EU for Intellectual Property Rights

Intellectual Property (IP) Rights are the legal rights connected to the ownership, use, sale and disposal of the above mentioned intangible property.

The legal system of Cyprus provides certain rights and protections for owners of intellectual property. An ideal location to establish the Intellectual Property structure is Cyprus due to its very low tax regime.

The most common types of Intellectual Property rights (IPR) in Cyprus are the following:

Copyright: gives the creator of an original workexclusive rightsto it. It may apply to a wide range of creative, intellectual, or artistic forms, or “works”. Copyright does not cover ideas and information themselves, only the form or manner in which they are expressed.

Examples of Copyright

  • Literary /Dramatic/ Musical /Scientific /Artistic works
  • Sound recordings, Films, Broadcasts
  • Published editions, Publications
  • Databases, Software programmes
  • Advertisements

Patents:

An invention is a solution to a specific technological problem, which may be a product or a process and generally has to fulfill three main requirements: it has to be new, not obvious and there needs to be an industrial applicability.

Trademark: is a recognizable sign, design or expression which distinguishes products or services of a particular trader from the similar products or services of other traders.

Tax Benefits of Cypriot Intellectual Property Companies:

  • Tax rate of 2.5% the lowest in the EU
  • Corporation tax rate applicable in Cyprus is 12,5%
  • In Cyprus the withholding tax on royalty payments is 0%

Important International Conventions relevant to Intellectual Property:

  • Convention Establishing the World Intellectual Property Organization (‘WIPO’)
  • Berne Convention for the Protection of Literary and Artistic Works

*(not exhausted list)

Protection in Cyprus:

  • A national patent certificate is granted by the Department of Registrar of Companies and Official Receiver in Cyprus.
  • A European Patent certificate is issued by the European Patent Office.
  • An International Patent certificate under the provisions of the Patent Cooperation Treaty, administered by the World Intellectual Property Organization (WIPO)

For more information and guidance get in touch with our lawyers or email iMPK Global Business Law Firm – Cyprus Lawyers, at info@impklawyers.com .Tel. +357 99345000 – Fax +357 25 660097

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