• Tax Update: Cyprus - The Ultimate Royalty and Holding Structure Jurisdiction
  • May 30, 2012 | Authors: Irene Christodoulou; Christos P. Kinanis
  • Law Firm: Kinanis LLC Multidisciplinary law Firm. - Nicosia Office
  • In May 2012, the House of Representatives voted new amendments to the Income Tax Law aiming to establish Cyprus as the ultimate royalty and holding structure jurisdiction. These changes allow Cyprus to compete favourably with other jurisdictions which offer similar incentives. The most important change in the law is the creation of a specific tax regime for companies owning any kind of intellectual property right out of which royalty income is generated, making “The Cyprus Royalty Company” the best vehicle for holding intangible assets.