In Cyprus there are strict laws that defend and protect anyone who produces original material of any sorts and it is subject to copyright.
Relevant amendments were passed over time, primarily of what can be considered as material that can be copied, and the final assessment is a combination of legal and practical questions. Lately there were tax incentives so to attract foreign registration of copyrights & patents.
Intellectual Property box regimes can be separated into two main categories. The first category gives reduced rates of tax on qualifying income. The second category gives an exemption of a specified proportion of revenues. This second category can be divided into a sub category of schemes that exempt a proportion of gross revenues and those that exempt a proportion of net revenues.
The modifications to the Income Tax Laws have been effective since January of 2012 and apply to all expenditure for the acquisition or development of intangible assets incurred by a person carrying on a business.
It has to be noticed that mobile applications cannot be registered as patents, but if there is an innovation on application as for example a design it can be patented independently and not as an existing patent.
Nowadays as we are sure you have already noticed the website content has at the bottom copyrighted material, when published. This is to make sure that the owner is covered by law when it comes to copyright for any material that is written on the website.
The wording is usually stating the following words:
Copyright @ (Name of the Author/Web developer/Company or Physical Person) and then 20XX (Year that copyrighted material is published on-line).
Some years ago some websites would use: “This is a copyrighted material and copying the text/images/content without the prior consent of the owner of the web pages was consisting of an offence or copyright infringement subject to further legal action/s against the person infringing such copyright content/material. Some of the website would even go to the length of not allowing the pressing of right click in order to select and copy past any of the written content.
In the past people would use the postal system to mail their work and by doing that their postal address was being registered therefore the receipt was used as evidence and the employee of the post office would be used as a witness so the actual owner could proof their work was their own. This was not a formal practice in the Cypriot Jurisdiction.
Lastly the IP rights either there are royalties or patents or copyright work, are exempt around 80 % on capital gains tax.Read More
To be a Cypriot citizen is a major advantage which involves a plethora of benefits that come from being a member of the Republic of Cyprus which is a member of the European Union. In an unsure, growing world a second passport is an investment for anyone to own for future use. It offers among other benefits extra stability and protection, portfolio variety, funding possibilities and asset protection.
Cyprus is undeniably one of the countries with the lowest corporate tax rate. This is a number one reason for business man considering the expansion of business activities to Cyprus especially taking into consideration the treaties that Cyprus has signed with several countries, for the avoidance of double taxation.
Among many advantages are the travel benefits that one may pick up as a Cypriot citizen. Going in and out the entire European Union in any of the 27 Member States without the need of a visa is unquestionably one of the greatest benefits to have as it saves time, money and eliminates the need for administration.
EU residents have rights in specific situations when they travel. For example, as following direction of the European Commission if there are huge delays of a flight there must be dinners and refreshments given, convenience and correspondence. In the event of a delay of over 5 hours the company should offer to discount or refund the ticket.
Amongst the many benefits that the Cypriot citizenship offers with are healthcare rights. As per the right of the cross-border healthcare, EU citizens have rights in regards to health in any of the 27 Member States of the European Union. In Cyprus specific patient cases allow for free healthcare in Cypriot public hospitals. Patients have the benefit to receive healthcare in any of the 27 EU Member States and receive some of the amount paid in respective to what it would be covered by their Country.
The freedom of movement of being in the EU gives EU citizens the right and opportunity to move freely and get a job in any Member State without restrictions. Furthermore, citizens of the EU Members States additionally have the right to work and live in any Member State with their family even if their spouse is not an EU national.
Under the social security scheme Cypriot citizens can benefit for a number of advantages offered like for example sickness advantages, job-seeking, maternity leave, pension, disability allowance and workplace accident allowance.
Educational advantages are another part of essential advantages that one may pick up as a national of the Republic of Cyprus. Cyprus has two profoundly perceived public Universities (University of Cyprus and Cyprus University of Technology). Cypriot residents that gained a place at the state funded Universities are not subjected to any educational cost expenses as the whole University classes are free.
Furthermore, Cypriot citizens have the right to study in a different EU Member Country with the same conditions and fees as the residents of that country.
Cypriot citizens who are insured under the social security scheme are allowed to receive pension. Additionally they have the same rights to social insurance with the nationals of the EU Member State in which they live or work. Moreover, EU citizens can keep the right to get their social insurance advantage even if they move to a different EU country.Read More