ANNUAL PAYMENT FEES FOR TRADEMARKS AND PATENTS
The General Registry of the Cayman Islands has issued Practice Note No. 01/2016 by which annuity payments for patents and trademark renewals are regulated.
According to Practice Note No. 01/2016 annuities of patents and trademarks in the Cayman Islands will not be accepted in advance to January 1st of the year in which they expire. The payment of the annuity fees will not be possible to make in advance and may only be possible until the year of expiration of the renewal of the mark or patent expiration. Annual fees due in 2017 must be paid on or after 1st January 2017. Annual fees due in 2018 must be paid on or after 1st January 2018, etc.
If annual fees remain unpaid up until March 31st of each year, a penalty fee will be applied. Furthermore, the Registry will not accept payment of the outstanding annual fee unless the applicable penalty is paid simultaneously. In any case, those holders who wish to pay in advance must do so before the practice change is applied on August 1st 2016.