Τo register a patent in Cyprus, the EU and in the international domain is a long and demanding process that requires cooperation and harmonious communication of all parties: the applicant, his/her legal representatives and the competent authorities.
The reason for this is that the information necessary to be included in the drafted patent application can be very specific depending on the nature of the invention ant its technical characteristics. Strict timetable are also applied for any amendments requested by the authorities.
We often say that every application for securing a single patent resembles the way an orchestra operates: it is not enough for the ear to hear the music from just a musical instrument but it is essential to have harmony and composition of all instruments.
Cyprus , as a member country of the EU gives full protection of the intellectual property rights. Also Cyprus’ tax regulations of intellectual property rights, also known as “IP Box”, provide, among others, 80% tax exemptions on worldwide royalty income and/or on profit generated from IP owned by Cypriot resident companies.
Therefore, Cyprus, today provides one of the best tax regimes for intellectual property rights in the EU!
But opportunity awaits those who effectively harness this brave new world!
