Category Archives: Technology Law

Commencement of the New Incentives for Foreign Interest Companies

The 31st of December 2021 saw the end of the previous scheme regarding the registration of foreign interest companies and the issuance of immigration permits for employees of foreign interest companies registered in the Republic of Cyprus.

January 2022 sees the commencement of the new Government Strategy aimed in attracting foreign interest companies to relocate their activities to Cyprus or allow existing companies to expand their activities in Cyprus.

The new policy ends the requirement of transferring €200,000 from abroad, for Cyprus companies that are majority owned by third country nationals. The new policy also removes the €4,000 and €2,000 minimum monthly salary for different categories of personnel, with the new scheme setting the salary for highly skilled personnel at a minimum €2,500 per month.

Key things to know:

Which companies are considered as ‘’foreign interest’’ in order to be eligible for new incentives?

Third Country Shareholders – Majority Owned Company

Third-country shareholders should own the majority of the company’s shares.

The new policy no longer requires third country shareholders who own the majority of the foreign interest company to transfer an amount equal to or greater than the amount of € 200.000 to a Cyprus corporate bank account from abroad.

OR

Third Country Shareholders – No Majority Owned Company

In cases where the percentage of the foreign participation (third-country shareholders) in the company’s share capital is equal to or less than 50% of the total share capital, in order for the company to be eligible, the foreign participation should represent an amount equal to or greater than the amount of €200.000 as nominal capital stated in the Company’s Memorandum of Association.

OR

Companies that fulfil the following criteria:

  • Public companies registered in any recognised stock exchange
  • Former offshore companies that were operating in Cyprus by approval of the Cyprus Central Bank, before the change of their offshore status.
  • Cypriot shipping companies.
  • Cypriot companies of high technology / innovation – this relates to companies which meet the below criteria
  1. The company is established and present in the tech market, and
  2. The company has high levels of Research and Development intensity, and
  3. The company focuses on products that are included in the below categories:

i. Space industry

ii. Telecommunication, electronic products or computers

iii. Pharmaceutical or biomedical

  • Cypriot pharmaceutical companies or companies operating in the fields of biogenetics and biotechnology.
  • Persons who have acquired Cypriot citizenship by naturalization based on economic criteria, given that they will prove that the conditions under which they were naturalized are still met.

AND

  1. The company has established and operates independent offices in Cyprus, in suitable premises, which are separate from any private housing or other office – except in the case of business cohabitation.

Temporary Residence, Immigration Permits and Family Reunification

Employment of highly skilled personnel

Positions based on categorisation of employment such as Directors, Specialists, Managers Key Personnel, Specialists and on minimum gross monthly salaries such as €4,000 and €2,000 will no longer apply. The new policy enacted, introduces a minimum gross monthly salary of €2,500 for all highly skilled employees provided that:

  • they have the proven required academic skills or at least 2 years of relevant experience; and
  • a minimum of 2-year employment contract.

The maximum number of third country nationals is 70% of the total number of employees in a 5-year period from the date of the registration of the company as a foreign interest company by the Business Facilitation Unit.

This is a great shift from the previous policy which permitted foreign interest companies the ability to employ a maximum number of 15 third-country nationals, with the exemption of employing more than 15 employees if certain conditions applied.

Employment of support personnel

Companies can employ third country nationals as support personnel, with a maximum gross monthly salary of €2,500 provided that the number of third country nationals employed does not exceed 30% of all the support personnel.

Duration

All Residency and work permits will be issued within 1 month and will have a validity period of up to 3 years.

Family re-unification rights of third country nationals 

Spouses, of third country nationals that obtain a temporary residence and work for foreign interest companies and receive a minimum gross monthly salary of €2,500 (i.e. other than for support staff), are able to  enjoy immediate and free access to the Cyprus labour market and have the right to work in Cyprus. The dependents of third country nationals employed at a foreign interest company (i.e. minors under the age of 18) can live and attend school in Cyprus.

The Cyprus Digital Nomad Visa

In accordance with practices employed by other European countries regarding remote work, the government has introduced the Digital Nomad Visa scheme, allowing third country nationals who are self-employed, freelancers or employees working remotely for employers/clients based outside of Cyprus to reside and work in Cyprus. A maximum limit of 100 beneficiaries will benefit from the Digital Nomad Visa scheme, however this number may increase in the future if the scheme proves successful.

Individuals granted a Digital Nomad Visa have the right to stay in Cyprus for up to 1 year, with the right to renew for an additional 2 years. Such visa holders will have the right of family re-unification for their family members whereby a residence permit would be granted, following a successful application. The family’s residence permit would then expire when the digital nomad’s visa expires, as the visa holder acts as the family’s sponsor.

During their stay in Cyprus, the spouse or the civil partner of the person who is granted a Digital Nomad Visa, and the minors of their family are not permitted to work or engage in any kind of economic activity in Cyprus.

Tax incentives 

A number of tax incentives are currently being considered, which if approved will come in effect in 2022:

  • Expansion of the 50% income tax exemption to new employees with a salary of minimum €55.000 per annum. This exemption, already in effect for annual salaries over €100.000 per annum, will be extended from 10 to 17 years (covering existing employees who currently enjoy this benefit). Existing employees who earn between €55.000-€100.000 per annum can benefit for the remaining period of the 17 years;
  • Extending the 50% tax exemption for investment in certified innovative companies and by corporate investors;
  • Increased deduction of research and development costs from taxable income to an amount equal to 120%;
  • Right to transfer social insurance contributions based on bilateral agreements to come into force.

Cypriot naturalisation 

A draft bill amending the Aliens and Migration Law Cap. 105 will be presented proposing:

  • the reduction in the eligibility period for applying for the Cypriot citizenship from 7 years of residence and work in Cyprus to 5 years; and
  • the further reduction to 4 years for holders of certifications proving that they are fluent in the Greek language.

Summary

This strategy aims to strengthen the island’s position as a key business hub in the European Union. The incentives given at a corporate and individual level will allow international companies to relocate and operate in Cyprus, along with their key personnel, which will add great value to the Cyprus economy and boost its reputation as a key business destination.  The strategy’s focus on high innovation/tech companies, pharmaceutical companies and shipping companies, shows that the scheme enacted, aims to reach out to 3 key industries that can drastically boost the country’s business model and attractability across the globe.

What we do

Panayiotis Z. Toulouras LLC provides corporate services to clients worldwide. Our law firm, with it’s team of experts, provides strategic advice for individuals and entities, seeking the foreign interest company route, and ensures a smooth transition for all clients aiming to relocate an existing business or launch a new business in Cyprus.

  • Incorporation of a Cyprus company
  • Registration of a Foreign Interest Company
  • Business visa applications and other visas
  • Launch and Setting up consultation
  • Family reunification
  • Employment agreements
  • Purchase and/or rental of commercial and residential premises
  • Applications for permanent and temporary residence
  • Applications for naturalization
  • IP registration
  • Advice on all related tax aspects
  • Opening of corporate and personal bank accounts in Cyprus and abroad
  • VAT and TAX registrations
  • Processing of investment and lending facilities
  • Relocation assistance and advice

 

FIC: The 10 advantages of a Cyprus Foreign Interest Company

A Cyprus ‘Foreign Interest Company’ (FIC) is an avenue that gives a Cyprus based company with non-EU shareholders the ability and priority to employ non-EU nationals instead of locals and EU nationals.

Non-EU shareholders are able to reside and set up shop in Cyprus by relocating their existing business from a non-EU country or launching a new business from scratch, whilst simultaneously hiring their key personnel from around the world and taking advantage of the island’s many benefits  i.e. lifestyle, cheaper operating costs, EU membership and tax advantages – find out Why Cyprus here.

We break down the 10 advantages of a Cyprus Foreign Interest Company:

Residency, Family & Key Personnel

  1. Non-EU Shareholders of a FIC can apply for a business visa (work permit) and residency through employment in their Cyprus registered company. This allows any non-EU citizen to live and work freely in Cyprus for as long as the FIC is active, with them employed at the FIC.

This provides non-EU individuals or groups of individuals with the ability to relocate their existing business or launch a new business in an European Union member country.

2.  Non-EU Shareholders of a FIC are also eligible and allowed to move their families to Cyprus, with their children able to attend any public or private schools available. Their spouses are also allowed to work in Cyprus.

This allows non-EU shareholders the ability to live and work freely in Cyprus without having to constantly fly back to their families. This also allows families the ability to enjoy the exquisite lifestyle of Cyprus with no concerns or worries regarding their residency.

3.  A FIC can register and hire up to 5 non-EU employees as senior management, who are able to obtain a business visa (work permit), allowing them to live and work in Cyprus.

4.  A FIC can register and hire up to 10 non-EU employees as middle management or other administrative, secretarial or technical staff, who are able to obtain a business visa (work permit), allowing to live and work in Cyprus.

5.  All non-EU employees hired by the FIC are also eligible and allowed to move their families to Cyprus, with their children able to attend any public or private schools available.Their spouses are also allowed to work in Cyprus.

This allows all non-EU employees hired by the FIC the ability to live and work freely in Cyprus without having to constantly fly back to their families. This also allows families the ability to enjoy the exquisite lifestyle of Cyprus with no concerns or worries regarding their residency.

Additional Key Personnel (Specialists) 

6.  A FIC can register and hire up to 200 or even more additional non-EU employees which are considered as Specialists (e.g., tech industry, marine industry, pharmaceutical industry). The amount of additional non-Eu employees considered as Specialist that a FIC can hire, depends on the annual turnover of the company and the overall operations, and needs of the FIC.

This allows a FIC to invest further into its relocation or launch, by hiring more non-EU employees that are needed to push for growth.

Citizenship, Social Insurance & National Health System (GESY)

7.  Non-EU shareholders and FIC employees, and their families, can benefit from Cyprus’ social insurance schemes and register to the Cyprus national health system for subsidized medical care.

8.  Non-EU shareholders and FIC employees, and their families, are able to apply for citizenship after a period of 7 years, if they resided fully for the 7 years (more information can be provided on this)

This allows all non-EU individuals with the ability to enjoy the full benefits of being a Cypriot citizen, with a Cypriot passport, which includes all the benefits of Cyprus being a member of the European Union.

Tax Benefits – Corporate and Individual

9.  Non-EU shareholders who register their companies as foreign interest can benefit both individually and corporately from Cyprus’ advantageous tax benefits (see in detail below) for companies and individuals.

10.  All non-EU employees hired by the FIC can benefit individually from Cyprus’ advantageous tax benefits (see tax benefits here)

Eligibility Criteria:

Criteria that companies must meet in order to benefit from this decision, and the categories of staff and the maximum numbers of third country nationals who can be employed are all described below.

Eligibility Criteria In order to register a Cyprus company as a foreign interest company:

  • Non-EU shareholder/s should own the majority of the company’s shares. (more than 50%),
  • Foreign direct investment of capital amounting to at least €200.000, legally admitted to a Cyprus bank account from abroad. This amount can be used for company’s activities.

Staff Categories:

a) Senior Management – Directors, General managers, Heads of Departments, Project Managers

Maximum number of third country nationals employed: 5 persons (unless the Civil Registry and Migration Department is satisfied that the employment of a greater number is justified, depending on the circumstances of each company.)

Minimum Acceptable Gross Monthly Salary: €4.000

b) Middle Management – Upper / middle management personnel, Other administrative, secretarial or technical staff

Maximum number of third country nationals employed: 10 persons (unless the Civil Registry and Migration Department is satisfied that the employment of a greater number is justified, depending on the circumstances of each company.)

Minimum Acceptable Gross Monthly Salary: €2.000

c) Support Personnel

  • A company may employ third country nationals in support positions by first securing the positive recommendation of the Department of
  • A company may staff up to 30% of its total personnel with third country nationals in posts in this category.

d) Additional personnel: Exceeding the maximum allowed number of employees from third countries in each category

To employ more third country personnel, requests by the company must be submitted to the Department for approval. The requests must include information on the salary offered along with:

  • The requests must include information on the salary offered as well as:
  • The company’s turnover
  • The ratio of third country employees to Cypriots / EU Nationals and
  • The company’s operating time in

e) Specialists 

Companies are entitled to employ a number non-EU nationals, up to 200 or even more, over and above the categories stated above, if they fall within the professions/skills listed below.

Minimum Acceptable Gross Monthly Salary for Specialists: €2.000.

Professions / Skills

  • Software and System Engineers
  • Application and Data Architects
  • ICT and Enterprise Solution Architects
  • Technical Assurance Professionals
  • Telecom and Space Engineers
  • Data scientists
  • Machine Learning Engineers
  • Web Developers and designers
  • UX User Experience Professionals
  • Quantitative Analysts
  • Quality Assurance Analysts
  • Mobile Application Developers
  • Augmented Reality/ Virtual Reality Programmers
  • Digital Marketing Specialists
  • Video Production Multimedia Specialists for Mobile Apps and Software
  • Analysts for Mobile Apps and Software
  • Designers of Prototype for Mobile Devices
  • DevOps Engineers
  • Cyber Security Specialists
  • Artificial Intelligence, Robotics and Big Data Specialists
  • Pharmaceutical Formulation Technologists
  • Pharmaceutical Engineer Validation Specialists
  • Pharmaceutical Patents Specialists
  • Pharmaceutical Regulatory and Quality Assurance Professionals
  • Marine Engineers
  • Naval Architects

Maximum number of third country nationals employed as Specialists

The number of non-EU Specialists allowed is based on the annual turnover of the company, as following (unless the CRMD is satisfied that a FIC requires a number higher than 200 employees):

Foreign Interest Company Specialist

Number of Specialists permitted based on turnover.

 

 

 

 

 

 

 

 

 

What we do

Panayiotis Z. Toulouras LLC provides corporate services to clients worldwide. Our law firm, with it’s team of experts, provides strategic advice for individuals and entities, seeking the foreign interest company route, and ensures a smooth transition for all clients aiming to relocate an existing business or launch a new business in Cyprus.

  • Incorporation of a Cyprus company
  • Registration of a Foreign Interest Company
  • Business visa applications and other visas
  • Launch and Setting up consultation
  • Family reunification
  • Employment agreements
  • Purchase and/or rental of commercial and residential premises
  • Applications for permanent and temporary residence
  • Applications for naturalization
  • IP registration
  • Advice on all related tax aspects
  • Opening of corporate and personal bank accounts in Cyprus and abroad
  • VAT and TAX registrations
  • Processing of investment and lending facilities
  • Relocation assistance and advice

 

 

 

What are the 8+1 Advantages of Setting Up a Digital Company in Cyprus?

What are the 8+1 Advantages of Setting Up a Digital Company in Cyprus?

Cyprus, located between three continents – Africa, Europe, Asia – is a proud member of the Eurozone and home to around 1 million people. The past few years, Cyprus has been experiencing strong and rapid growth as a tech hub, and is fast becoming an appealing relocation and headquartering destination for many digital businesses from the Middle East, CIS, USA and Scandinavia.

The competitive, modern, legal, financial, and regulatory framework that Cyprus possesses allows the island to be a credible and highly reputable hub for digital companies, startups and individuals involved.

Furthermore, there are other reasons justifying Cyprus as one of the most up and coming tech hubs such as its strong economic growth, its experienced workforce and talent available, its lower setting up costs, its competitive IP Box tax regime and its business visa residency permits.

As a result global powerhouses  such as Wargaming, Sykes, Amdocs, Nexters, MindGeek, NCR have set up regional and global headquarters in Cyprus.

1. The Cyprus Tax Regime

Corporate Tax

The Cyprus tax regime has been designed to attract investors and entrepreneurs.

A company is considered to be a Cyprus tax resident if it is managed and controlled from Cyprus. Worldwide business profits of a Cyprus tax resident company will be subject to a corporation tax of 12.5% with a number of other tax advantages that companies can benefit from:

  • Dividend income is in general exempt from tax irrespective of its source,
  • Cyprus does not impose income or capital gains tax on profits and gains from the disposal of shares, bonds, debentures.
  • Cypriot companies are exempt from taxation on foreign exchange (FX) gains,
  • No withholding tax is imposed on interest and on royalties paid from Cyprus in respect of intellectual property used outside Cyprus.
  • Dividends paid to non-resident shareholders are exempt from withholding tax in Cyprus.
  • Profits of a permanent establishment maintained abroad are generally exempt from tax in Cyprus.

Personal Tax

  • Individuals who spend more than 183 days in Cyprus are considered a tax resident of Cyprus.
  • Individuals are able to become a Cyprus tax resident by spending just 60 days in Cyprus provided they satisfy a certain criterion such as maintaining a permanent residence in Cyprus and carrying on a business here or being employed in
  • A Cypriot tax resident individual is subject to income tax on his/her worldwide income whereas a non-Cypriot tax resident individual is subject to income tax only on Cyprus sourced income.
  • Cyprus’ personal income tax rates are progressive, ranging from nil to 35%, on taxable income exceeding €60,000. The income of up to €19,500 is not subject to tax.
  • 50% of the remuneration from employment exercised in Cyprus by an individual who was not a resident of Cyprus before the start of their employment in Cyprus. This exemption will apply for a period of 10 years from the 1st year of employment, as long as the salary exceeds €100,000 per annum.

Double Taxation Treaties

Cyprus has currently tax treaties with more than 60 countries, including countries in North America, Europe, Africa, the Middle East. Treaties provide two advantages:

  1. protection from double taxation on the same income from two states
  2. protection against excessive foreign tax.

2. The IP BOX Regime

Cyprus is an attractive location to establish an Intellectual Property (IP) which is a holding and development company, as the island offers an efficient tax rate as well as sound legal protection conferred through EU Member States and major IP treaties and protocols that Cyprus entered into.

  • 80% of the profits qualifying for the regime are exempt from tax. With a corporate tax rate of 12.5%, this can result in an effective tax rate of as low as 2.5%.
  • Qualifying assets under the new regime include:
  1. patents,
  2. copyrighted software programs, and,
  3. other intangible assets that are nonobvious, useful and novel.

3. Foreign Interest Company – click here

Companies of foreign interests can give priority to employment of third country nationals (non-EU) instead of locals and EU nationals, with employees receiving business visas and their families being eligible for residency in Cyprus.

  • A Cyprus company with a majority of non-EU shareholders (over 51%) is eligible to employ up to 15 non-EU employees (including the shareholders themselves),
  • All 15 non-EU employees are able to work and live freely in Cyprus whilst they are employed for the Cyprus Company through receiving residency cards,
  • A direct deposit of capital amounting to at least €200.000, deposited into the Cyprus company’s bank account from abroad, is required to be eligible. This amount can then be used for company activities in Cyprus and abroad,
  • The company can also employ additional Specialists that have specific skills (click here for more info),
  • Family members (spouse, children, parents, and in-laws) of the Employees can also join and reside in Cyprus through family reunification.
  • The foreign interest company benefits from an advantageous 12.5% corporate tax (one of the lowest in Europe)

4. Life in Cyprus

When considering where to launch your business, it is always vital to consider the quality of life you aim to have for you, your family, and your employees. Choosing Cyprus ensures you and your team work on a Mediterranean island that provides you with a very high standard of living that include:

  • One of the EU’s best all-year climates and one of the best worldwide,
  • Over 65 Blue Flag status beaches for all tastes (highest % per capita) sports, entertainment, etc, High level public & private healthcare services,
  • Short distances – can travel from one side of the island to another in 2 ½ hours Considered one of the world’s safest countries with one of the lowest crime rates in E.U., Reasonable cost of living with great choice fresh products always available – both local and international
  • According to the European Environmental Agency, Cyprus also has the cleanest beaches in Europe
  • Real Estate available to cater all needs – city center, skyscraper, beach, countryside, etc
  • High Level of Education – many private schools and private institutions offering a high level of education in English.

 5. Quality Workforce

  • Benefit from the local impressive skilled workforce Cyprus has to offer, direct access to a great pool of talent from other EU countries.
  • Benefit from programs allowing international professionals to easily relocate.
  • Work visas for non-EU nationals are available to enable companies to hire from non- EU countries whenever the required skill-set is not available locally.
  • Almost half of the workforce in Cyprus have a tertiary degree, predominantly from the U.K. – one of the highest in the EU. More Cypriots earn degrees from foreign universities than any other EU country.
  • Rapid growing education system – one of the highest enrolments in domestic universities with many U.K. universities partnering up with Cyprus universities.

6. Operational Costs

Launching and running your business in Cyprus reduces your overall set-up costs compared to other EU countries resulting in more budget being allocated for growth and development of your business.

  • Lower labor costs than other E.U. countries Lower office rentals costs than most E.U. countries
  • Low business support costs and high quality – services like I.T., accounting, legal, etc.

7. Member of the EU

As a proud member of the European Union Full access to European Markets with free movement of goods, services, capital, along with access to 40+ EU trade agreements with countries outside the E.U.

Cyprus’ legislation is fully compliant with the E.U.  legislation. European Union directives are fully transposed into Cyprus legislation and E.U. regulations have direct effect and full application in Cyprus.

8. Location, Location, Location

Cyprus’ location is very strategic as it is positioned between Europe, Africa, and Asia, with the island’s two international airports linking Cyprus to all major airports:

  • London – 4 hours 30 minutes (Direct)
  • Paris – 4 hours 15 minutes (Direct)
  • Frankfurt – 4 hours (Direct)
  • Zurich – 3 hours 30 minutes (Direct)
  • Dubai – 3 hours 30 minutes (Direct)
  • Doha – 3 hours 30 minutes (Direct)
  • Beijing – 13 hours (1 stop)
  • New York – 11 hours 30 minutes (1 stop)
  • Singapore – 10 hours 40 minutes (1 stop)

8+1. Post-Brexit and U.K. Connection

UK-Cyprus trade relations existed before the E.U. and will continue strongly after Brexit as Cyprus belongs to the Commonwealth and has sovereign British bases on the island.

Cyprus’ legal and judicial system is very much aligned with that of the U.K. As such, Cyprus’ primary corporate statutes are based on and derive from English company legislation and its legal system is modeled on the English common law system.

73% of Cypriots speak English and is an official language due to British Colonization.

What we do

Panayiotis Z. Toulouras LLC provides corporate services to clients worldwide. Our law firm, with the assistance of our vast network of associates, provides strategic advice spanning all aspects of Intellectual Property, patent, trademarks protection, design registration, copyright, residency permits and the licensing of technology.

  • Advice on the acquisition, registration and protection of all Intellectual Property both domestically and internationally
  • Patent trademark copyright proceeding
  • Franchising and Licensing
  • Competition and Agency law
  • Immigration Permits
  • Advice on all related tax aspects
  • Processing of investment and lending facilities
  • Facilitating online bank facilities
  • Opening of private and corporate bank accounts
  • Software development agreements
  • Software licensing and distribution agreements
  • Employment Contracts
  • Relocation assistance and advice
  • Real Estate acquisition or rental

 

 

Digital Upgrading Funding scheme announced by Ministry of Energy, Commerce & Industry.

What’s happening?

The Ministry of Energy, Commerce & Industry continues to strengthen its digital strategy with Cyprus based SMEs with the introduction of the new government funding scheme to support the ‘Digital Upgrading’ of businesses and cover costs where needed e.g. application process.

The project aims to enhance the degree of integration of digital technology in businesses e.g. CRM software, E-Commerce shops, brand new websites. The scheme objectives are:

  • The enhancement of the digital identity of businesses,
  • The increase of number of small and medium-sized enterprises using I.T. & Communication software, including businesses from the e-commerce sector,
  • The promotion of digital entrepreneurship.

What funding can businesses receive as support?

Companies are able to receive up to 50% of funding for their approved projects.

It is good to note that the:

  • Minimum project value is: €5,000
  • Maximum funds able to be given: €50,000

Why you need us?

a) Guide on Digital Plan:

We work with affiliate digital partners that can assist in the digital planning and upgrading needed to upgrade your business and comply with government grant scheme.

 b) Application Process:

Most importantly, the application costs are covered by the scheme so our specialized team can assist you from start to finish with the application process and documentation needed to benefit from the project and to avoid all the back and forth that may arise from applying.

Panayiotis Z. Toulouras LLC offers expert legal advice for companies involved in the technology industry. Our services cover the entire spectrum of technology law and practice.

Email: info@toulouraslaw.com

Website: www.toulouraslaw.com 

 

Three new funding programmes for domestic startups & enterprises – Cyprus aims to become startup hub.

Cyprus aims to become startup hub.

The Cyprus Employers and Industrialists Federation presented on the 25th of July the three new funding programs aiming to support the development of innovation by Cypriot enterprises in order to penetrate the global market with their products. Cyprus is strategically planning to become a hub for startups both for Cypriot organizations through the below programmes but also for international startups through the ‘Invest in Cyprus‘ programmes.

The three separate funding programs aim to support start ups and existing enterprises at 3 different stages with the main focus of:

  • Pre-Seed Programme: Creation and Initial development of Startups with international orientation – Max funding per project: €100,000
  • Seed Programme: Development of Internationally Competitive Innovative Products and Services by Startups- Max funding per project: €500,000
  • Innovative Programme: Development and Promotion of Internationally Competitive Innovative Products and Services by Existing Enterprises – Max funding per project: €1,000,000

What we can do.

Our team at Panayiotis Z. Toulouras LLC was present to gather information on all 3 programmes and gain vital insights to help support our clients in their efforts to develop their start ups and promote their services globally. We offer expert legal advice for companies involved in the technology industry. Our services cover the entire spectrum of technology law and practice, for more information visit www.toulouraslaw.com.