Cyprus Innovation Support – Cyprus Patent Application/Cyprus Trademark Registration

In the north-central part of the Mediterranean Sea, located on the overseas transportation artery of three continents: Asia, Africa and Europe, there is an island country with a long history, covering an area of only 9,251 square kilometers and facing Greece, Turkey, Syria, Lebanon, Israel and Egypt across the sea. This is Cyprus. According to archaeological discoveries, the proven history of human civilization in Cyprus is nearly 10,000 years old. Due to its strategic location, it was successively invaded or occupied by foreign forces such as Western Taiwan, Assyria, Egypt, Persia, the Arabian Caliphate, the Umayyad Dynasty, Venice, and the Ottoman Turkish Empire. It was not until 1960 that Cyprus finally became independent and became the Republic of Cyprus, but this did not avoid its fate of being invaded. In 1957, Cyprus was once again split into the southern "Turkish State of Cyprus" and the "Turkish Republic of Northern Cyprus" due to the Turkish invasion. A situation was formed in which the two ethnic groups were divided into the north and the south. On January 1, 2008, the Greeks representing Southern Cyprus joined the Eurozone.

Rich oil and gas resources have been discovered in the Eastern Mediterranean where Cyprus is located. In March 2019, the Glaucus gas field with reserves of 5-8 trillion cubic feet was discovered. Paphos, the fourth largest city in Cyprus, is located on the southwest coast of Cyprus island. A famous seaside resort and tourist destination, Paphos is also the birthplace of Aphrodite (Venus), the goddess of love in Greek mythology.

Cyprus implements 12 years of compulsory education. In this small island country, it has 10 universities and the number of teachers is higher than the EU average. Because of this, Cyprus ranks first in the "2021 Global Innovation Index" released by WIPO. 28th, the largest proportion of R&D investment is in the field of natural sciences, followed by the field of engineering and technology. The shipping industry is the traditional pillar industry of Cyprus. It is the 11th largest flag state in the world and the third largest in the EU. It is also the largest ship management center in the EU, controlling 20% of the global third-party ship management market. The pharmaceutical industry in Cyprus, which mainly produces generic drugs, has developed rapidly in recent years and has now become the largest export category in Cyprus, exporting to 110 countries and regions, including countries with very strict regulations such as Japan, Australia and Brazil. Main imports: ① Mineral fuels, mineral oil and their products, asphalt, etc.; ② Ships and floating structures; ③ Vehicles and their spare parts (except railway vehicles); ④ Motors, electrical, audio and video equipment and their spare parts, etc.; ⑤ Boilers , mechanical equipment and parts. China mainly exports ships, fossil fuels and machinery to Cyprus.

Cyprus’s digital economy has a low starting point, with only 22% of companies using cloud services, 6% of companies using data analysis, and digital public services ranking 19th in the EU. Cyprus has huge potential for green energy development. The government has launched a number of subsidy programs to use solar energy to improve energy efficiency. In 2021, Cyprus launched a green travel strategy and plans to increase the proportion of electric vehicles to 25% in 2030. In the future, all electric vehicles will be used.

Cyprus has attracted global investment due to its unique geographical location, good social security, high-quality national education level, and complete economic management system and public service system. In 2021, the government has launched 15 million euros for Funding innovation, including promoting life sciences, physical sciences and engineering, and introducing a number of tax incentive policies have made Cyprus currently the country with the lowest taxes in the EU.