by Andria PapageorgiouTrademark Registration
A. Legal Framework
Trademarks and Service Marks in Cyprus are regulated by the Law Cap. 268 (as amended by the Laws 63/1962, 69/1971, 206/1990, and 176(I)/2000) which confers protection in combination with the provisions of the International Convention of Paris for the Protection of Industrial Property and Regulations of the World Intellectual Property Organization (WIPO). Trademarks in Cyprus are also governed by the Madrid Agreement (1891) and the Madrid Protocol (1989) concerning the international registration of trademarks, by the Agreement on Trade-Related Aspects of Intellectual Property Rights, EU directives, and regulations.
Protection in Cyprus is conferred not only to trademarks that belong to Cypriot owners but also to trademarks owned by foreigners. Accordingly, no discrimination is made between trademarks with their base in Cyprus and trademarks which have their base in another country.
Relevant for the registration and protection of trademarks in Cyprus is the Office of the Registrar of Companies and Official Receiver (the Registrar).
B. What is a Trademark:
A trademark is a distinctive element or a combination of elements, which is used to distinguish the products or services of an enterprise from the products or services of other enterprises, such as:
- words;
- persons’ names;
- drawings;
- letters;
- numbers;
- illustrations;
- colors;
- shape of product;
- shape of its packaging; or
- sounds.
The trademark to be registrable must satisfy at least the following criteria:
- It must be distinctive;
- Not similar to any other trademarks, especially of the same class, already registered, or the examination of their application is pending;
- Not to be capable to deceive or confuse the general public.
Registration of a trademark constitutes a form of intellectual property.
C. Procedure before registration:
Before proceeding with the filing of the application for registration of the national trademark with the Intellectual and Industrial Property Section, you are advised to examine whether your proposed mark meets the following prerequisites:
- it constitutes a trademark and does not exclusively concern the general appearance of the product, an invention, or work protected by other types of intellectual property rights. For further information regarding other forms of intellectual property rights, please contact us at info@apapageorgiou.com.
- it is capable of distinguishing the products or services of an enterprise from those of other enterprises;
- it specifies the object of the protection provided to its beneficiary with clarity and accuracy;
- it does not conflict with the absolute reasons of rejection;
- it does not conflict with the relative reasons of rejection;
- it does not infringe third-party rights, by conflicting with an earlier registered trademark or an application for trademark registration. Our Law Firm can assist you with the relevant search.
It is noted that you may, before applying, apply to the Intellectual and Industrial Property Section for a preliminary opinion regarding the possibility of safeguarding your trademark, by submitting the relevant documents, accompanied by the applicable fees. For further information regarding the preliminary process, please contact us at info@apapageorgiou.com.
D. Application for the registration of a trademark in Cyprus:
Once you are satisfied that your mark meets all the prerequisites for protection and provided you have made an availability check among the registered trademarks and the applications for trademark registration, you can proceed with the submission of an application for its registration in the Republic of Cyprus.
The Registrar has the discretionary power to approve the trademark as such or to approve its registration under conditions or to reject the application.
Any negative decision taken by the Registrar will be announced to the applicant and the latter will have the opportunity to request in writing through his/her lawyer the reasoning behind the decision of the Registrar and to submit an objection to the Registrar if he/she is not satisfied with the decision.
If the Registrar accepts the trademark unconditionally or if the applicant accepts the trademark conditionally, the trademark will be published in the Official Gazette of the Republic of Cyprus for two months. During these two months, anyone with a solid reason may file for trademark opposition. If no opposition is registered, the Cypriot Registrar will issue a registration certificate with a copy of the trademark, and accordingly, the exclusive right of use is conferred to the owner of the trademark.
Trademarks in Cyprus have seven-year validity from the initial registration and may be renewed for 14 years after the first 7 years.
E. International registration of trademarks through Cyprus:
Trademark may be registered under the Madrid Agreement regarding the International Registration of Marks and the Madrid Protocol governing the Program for international trademark registration by the International Bureau of the World Intellectual Property Organization (WIPO). Cyprus became a party to the Madrid Agreement and Madrid Protocol on November 4, 2003, under which trademark owners have now the opportunity to have their trademarks protected simultaneously in more than 80 countries (Madrid Union) or by selecting a few according to their business needs, by simply filing one application in one language directly with their own national trademark office.
An applicant shall file its application for registration indicating the Contracting States where the protection is sought through the authorized office of Cyprus that transfers an application to the WIPO for consideration. The International Bureau of the WIPO will examine the application in terms of compliance with the above-mentioned international treaties and other sufficient criteria. After the registration of the mark in the International Register and publication of it in the official publication, the International Bureau of the WIPO transfers appropriate notifications to all the Contracting States where the protection is sought, and each such State shall, after appropriate examination, approve or decline registration in its territory. According to this procedure, the registered trademarks shall have the same legal status as the trademarks registered under the national procedure. Within this procedure, our Law Firm may be your authorized agent for communications with the competent authorities.
Regarding the submission of an application to the European Union Intellectual Property Office (EUIPO), the registration of the European Union Trademark (EUTM) is very popular among owners of trademarks. The distinctive feature is that the registered trademark is subject to protection in all countries of the EU without any exclusion (the EU trademark registration countries). This fact represents a sufficient advantage for business entities and entrepreneurs who plan to do business within the EU as a whole. The registration shall be carried out by the European Union Intellectual Property Office (EUIPO). For further information regarding the relevant submission(s), please contact us at info@apapageorgiou.com.
The Madrid system’s subsequent management of the trademark is simplified since it makes it possible for any possible changes or renewal of the registration to be effected through a single and flexible process.
F. Benefits:
By registering your trademark, you obtain exclusive rights of its use and exploitation, including the placement of the mark on the products or their packaging, the supply of your products or services under the trademark, the use of your trademark as part of your business, or corporate name, its use on your professional forms and advertising materials.
Additionally, registering your mark provides an increased possibility of opposing its unauthorized use by third parties and of taking measures, including the prohibition of the use of the identical or similar marks in the following cases:
- transactions;
- placement on products or their packaging;
- offer of products or services;
- trade of goods or possession for trade;
- provision of services;
- import or export of products;
- business or corporate name, wholly or partially;
- professional printed material and advertisement;
- comparative advertisement in a way that contradicts Directive 2006/114EC;
- placement on packaging, labels, signs, security characteristics, or authenticity provisions;
- offer, trade, possession for trade, import or export of packaging, label, sign, security characteristics, or authenticity provisions.
Furthermore, the rights over a trademark may be sold, assigned, licensed, or otherwise commercially exploited for a monetary fee. A registered trademark or an application for trademark registration may be given as security or constitute a right in rem.
The benefits provided by a registered trademark are restricted geographically to the territory where it is registered (National/International/European).
G. AP Law Firm:
Andria Papageorgiou Law Firm can assist you with the registration of your Trademark, providing you the following services:
- Legal advice on Cyprus Laws about Intellectual Property;
- Trademark search and registration;
- Management and Administration services;
- International Registration Process of a trademark through EUIPO/WIPO;
- Objection and Removal assistance;
- Intellectual Property Litigation
- International Commercial Arbitration
Should you have any further questions, please do not hesitate to contact us at info@apapageorgiou.com.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.
by Andria PapageorgiouTrade Name Registration
A. What is a Trade Name:
A Trade name or a Business name is the name under which the individual or the company ‘run the business’, and it is different from the name of the company as a legal entity. Businesses use Trade names for advertising, marketing, and sales purposes. It does not contain a design or special characteristics. It is merely a name which is chosen either because it is easier to use or because the preferred name cannot be registered, as there might be a registered Trade Name similar to that.
A company can have different Trade Names each serving a different purpose. Practical advice is that it must be distinctive, and the company can use it, for example, in its letterheads, website etc.
In Cyprus, all Trade Names are governed by the Partnerships and Business Names Law (Cap.116).
B. Differences between Trade Names and Trademarks:
Trade Names and Trademarks are distinctly different from a legal perspective. A Trade Name is an official name under which an individual or company conducts business. A Trademark offers companies legal protection for a particular brand, which may be associated with a Trade Name. Although they might be similar, they must not be confused.
It is vital to be able to distinct a Trade Name with a Trademark, for the apparent reason that if a Trade Name is sufficiently similar to a Trademark from a different company, the proprietor may be served with a lawsuit.
C. Registration of Trade Names:
A Trade Name can be registered, although there is no legal obligation to do so, and the process is rather easy, as it is a common goal not to cause misrepresentation between them and Trademarks. However, the registration process of a Trade Name is a totally separate process from the Trademarks of the same company. It is important to note that a Trade Name is not used as a Trademark, as a Trade Name does not grant Intellectual Property (IP) rights to the proprietor.
Trade Names are often used in Trademarks. A legal problem with the integration of the Trade Name in its Trademark is when it is very similar to or has the same name with another Trademark. In such event, the proprietor may be infringing the other Trademark.
At AP Law Firm, we can assist you with the necessary search in order to ensure that the registration of the Trade Name in its Trademark does not lead to Trademark infringement. But, first of all, we will need to check if the Trade Name has not been already trademarked.
Note that Trademarks prevail over Trade Names, over which companies do not have exclusive rights. If a Company wants to have exclusive rights over its Trade Name, it must register it as a Trademark under the Trademarks Law (Cap.268) or even under the relevant International and EU regulations and Treaties.
D. Procedure:
When it comes to the registration procedure, it is usually recommended that three Trade Names are chosen. An application for name approval should be filed with the Registrar of Companies and Official Receiver of the Republic of Cyprus, under the Partnership and Business Names Law, and it shall be subject to the Registrar’s approval. From our experience, the most common reasons for refusal are the following:
- a similar name exists, and it will cause confusion;
- the name can be deceptive;
- the name is offensive ; and
- that the name suggests a relationship with the Government.
Upon the necessary Registrar’s approval, and within six months of its reservation, is that the proprietor must file the appropriate form for the registration of the Trade Name.
E. Timeframes:
Trade Names last for as long as they are used, and an application for its renewal is not necessary. If the Company ceases its activities or it stops to use it, the Trade Name elapses. Then, an application form is filed with the Registrar of Companies for its removal of the registry.
F. AP Law Firm:
Andria Papageorgiou Law Firm can assist you with the registration of your Trade Name, providing you the following services:
- Legal advice on Cyprus Laws in relation to Intellectual Property;
- Trade Name search and registration;
- Management and Administration services;
- Objection and Removal assistance;
Should you have any further questions, please do not hesitate to contact us at info@apapageorgiou.com.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.
by Andria PapageorgiouCyprus Company Formation
A. Cyprus main Company Types
1. Limited Company (LTD)
- no minimum share capital requirement
- number of shareholders can be between one to fifty
- the company must have at least one director and a secretary
- annual accounts must be audited and filled either in Greek or English language
2. Branch
- foreign company responsible for all liabilities of a Cypriot branch
- branch required to register with Registrar of Companies and CY Tax department
- accounts to be filed annually, in Greek or English
3. Partnership
- general partnership: between two to twenty members
- limited partnership: at least one partner with unlimited liability
- required to register with Registrar of Companies and Cyprus tax department
B. Uses of Cyprus Companies
A Cyprus registered company can be used in various ways supporting the needs of the company’s operations. Cyprus registered companies can have activities related to:
- Imports/exports
- Services providers
- Online shops
- Tech Start-Ups
- Finance companies
- Shipping companies (Merchant Shipping)
- Property Holdings
- Investment Companies
- Holding companies
- Intellectual Property Holding
C. Registration Timeframe
The formation of a Cyprus company usually takes 8 working days. More specifically:
- Day 1: Application to the Registrar of Companies for the company name approval.
- Day 3: Name approval for the authorities; completion of memorandum and submit online to the Registrar of companies for approval.
- Day 7: Issue of company’s official documentation. (Certificates of registration, certificate of board of directors and secretary, certificate of shareholders and office address, Authentication of company memorandum and Articles of association)
- Finally, the application to the Tax department for Tax Identification Number is submitted. Also, the application for Bank account opening in Cyprus.
After the registration of the company, it takes approximately 3 to 5 working days to open a bank account, given that all required information and documents are available to the Bank.
D. Registration Process
- You will need a registered address in order to setup a company in Cyprus. Our firm has the capacity to help you find an office space, without the need for you to look around.
- You don’t need to visit Cyprus in order to register your company. Everything can be arranged from your country and we can take care of it. Our experts will communicate and advice you via email or a teleconference and then sent you the paperwork to be signed.
- There is no minimum requirement of shares capital to start your Cyprus company.
- The documentation needed to register your company are:
- A certified copy of Passport or ID
- A certified copy or an original utility bill, as a proof of address.
- A reference letter from a bank institution, lawyer or accountant for the good standing of the beneficial owners.
- A questionnaire provided from AP Law Firm.
- A recent CV
- Last year’s tax return
E. Fees and Obligations
The annual fee to keep a company active is 350 Euro and is paid to Cyprus company registrar via the online portal or via your services provider.
Annual Reports and Audited financial Statements have to be submitted online to the Cyprus company Registrar department in 28 days after the end of the fiscal year.
Cyprus companies have to convene at least one Directors meeting per year. This meeting is mandatory. The first annual directors meeting of the company has to take place in 18 months after the registration date of the company.
A Cyprus company has to be registered to the Tax department and issue a Tax Identification number within 60 days after the registration date.
The annual Tax return form has to be submitted 15 months following the year end.
The yearly tax has to be paid in three instalments on the 31st of July, the 31st of December and the last one on the 30th of June of next year. All Cyprus companies have to calculate and submit their own tax payments within the tax year.
Every Cyprus registered company is obliged to keep accounting records and prepare audited financial statements.
F. Taxation
- The corporate tax rate is 12.5%.
- No there are no any extra taxes.
- Given that your company employes only yourself, the tax rate will depend on the paid salary you will receive from your company. If you earn less than €19.500
You have no tax obligation. - How you will be taxed on your income in any of the below cases?
(a) Cyprus Tax resident, director and employee of the company.
Taxed on worldwide income if is over €19.500
(b) Non-Cyprus Tax resident, director and employee of the company.
Taxed only on Cyprus income if is over €19.500
(c) Cyprus Tax resident, director, employee and a shareholder of the company.
Taxed on worldwide income if is over €19.500
Dividends are exempted from income tax and Cy withholding tax, but will pay National Health Insurance Scheme on 2.65% from 01/03/2020
(d) Non-Cyprus Tax resident, director and shareholder of the company.
Taxed only on Cyprus income if is over €19.500
Dividends are totally exempted from Cyprus.
G. Banking
For account opening, it usually takes approximately 3-5 working days from the day the signed documents from beneficial owners are delivered to the bank.
The paperwork needed to open up a company bank account are the below:
- Company certificates (Shareholder’s certificate, registered office, Incorporation certificate, Directors and secretary certificate)
- Memorandum and Articles of association
- Identification documents of the beneficiary person (Id, Passport and proof of permanent address)
In case you are not a resident, you can still open a corporate bank account.
You can also get a connected card to the company’s bank account, when this is opened successfully.
The annual fees for the card depend on the cart type (i.e. Mastercard, Visa etc.).
You can also open a personal account, as well, given that all relevant required information is provided.
The fees when receiving payment in your company’s account depend on each bank’s fees policy.
In general, the fees of the company towards the bank depend on the each bank’s policies. Usually banks charge from €500 – €800 per year. A company is obliged to provide all requested information to the bank such as activities, owners, clients and customers.
H. Board of Directors
A Cyprus registered company has to have Director(s) , Shareholder(s) and a Secretary stated.
- At least one director has to be tax resident and annual meetings have to be held in Cyprus.
- You can have a single director for a Cyprus company.
- Anyone can act as a secretary.
- Anyone from Cyprus or abroad can act as a director, given that he/she has no criminal record.
I. Employment
It’s easy to employee staff in Cyprus. Cyprus has one of the most educated labor force in Europe.
Our firm can assist you and advice on the recruiting process.
- You can hire a non-Cypriot resident to work for your company. In the case of an EU citizen he has to visit Cyprus and obtain the yellow slip permit. If is a third country national (outside of CY/EU) then the application of visa is required and different employment criteria according to the Cyprus Department of Labour.
- The minimum wage in Cyprus is 870 Euro gross and after the continuous employment from the same company goes to 924 Euro. The hourly rate varies depending on the job profile starting from 4,55.
- The total insurance fee is 20.3%. The fee of 12% is employer’s responsibility and the rest of 8.3% is paid by the employee. Employer’s contributions include the Social Insurance Fee (8.3%), Redundancy Fund (1.2%), HR Development Authority Fund (0.5%) and lastly the Social Cohesion Fund (2%). Please note that these numbers may change year after year according to the Social Insurance Department.
J. AP Law Firm
Andria Papageorgiou Law Firm can assist you with the incorporation of you company, providing you the following services:
- Advice as to the most efficient Cyprus company structure.
- Preparation and submission of company documents.
- Opening of bank accounts (both personal and corporate).
- Maintenance and Management of the Company:
- Registered office address
- Company secretary
- Directors
- Alternate directors
- Nominee shareholders
- Legal advice and assistance/trustee services
Should you have any further questions, please do not hesitate to contact us at info@apapageorgiou.com.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.