Cyprus is a member of the World Intellectual Property Organization (WIPO) and a member of other International Conventions and Treaties.
In May 2012 tax amendments were made that are significant for companies whose many activities relate to Intellectual Property.
- 80% of profits generated as royalties as exempted from corporate tax
- 20% are subject to the normal corporate tax rate of 12.5%
As a result, the effective tax rate of profit from Intellectual Property rights is 2.5%.
The definition of Patent & Intellectual Property Rights has been revised to relate to the meaning of the Local Patent Rights Law (1998), Intellectual Property Law (1976) and the Law relating to Trademarks.
These amendments make Cyprus particularly attractive and beneficial to IP holders and developers for registering their IPs and have attracted considerable overseas investment.
Intellectual Property Rights include the following:
- Local & International Registration of Intellectual Property
- Enforcement of Intellectual Property
- Licensing Intellectual Property and Technology
- Infringement & Passing off actions
- Advice on tax related matters
We can offer expert advice and assistance on the acquisition, registration and protection of Intellectual Property Rights.