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Practical commentary on the legal developments that affect businesses and individuals in Cyprus.
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Company & Corporate Law
The Registrar of Companies provided an update on 25/07/2022 as regards the operation of the UBO Registry. The anouncement states that the operation of the Interim Solution for submission of the beneficial owners information in the Beneficial Ownership Register will continue after the deadline of 31/07/2022 and until the Final Solution is implemented the date… Read More
Company & Corporate Law
The Department of Registrar of Companies and Intellectual Property of the Ministry of Energy, Commerce and Industry, announces that as from June 1st 2022 the general public, as well as obliged entities, can have access to information regarding the Beneficial Owners Register of companies and other legal entities. Up to this point, access to the… Read More
Company & Corporate Law
Further to previous posts about the obligation of companies to register their ultimate beneficial owners to the UBO Register of the Registrar of Companies in Cyprus, please note that the deadline of 12th of March 2022 has been further extended to 31st of July 2022. The anouncement for the extension was published on 01/03/2022. The… Read More
Company & Corporate Law
Following the publication of the Directive on the register of beneficial owners of corporate and other legal entities (R.A.A. 112/2021), Cyprus companies have an obligation to register their ultimate beneficial owners to the public registry. The registration deadline was originally the 12th of March 2022 but this has been further extended to 31st of July 2022…. Read More
Company & Corporate Law
According to the provisions of new Cyprus legislation adopted in 2021 concerning money laundering, all Cypriot companies are obliged to register the details of their beneficial owners in an electronic register set up by the Registrar of Cyprus ("the Register"). The Register will be publicly accessible from January 1, 2023 while for the time being… Read More
Company & Corporate Law
The release of the information added on the UBO Registry in Cyprus is divided to two phases: Phase 1. During the first 12-month reporting period, i.e., starting from 12.03.2021 to 12.03.2022, only Cyprus competent supervisory authorities such as the Financial Intelligence Unit (FIU) of Cyprus, the Customs Department, the Tax Department and the Police… Read More
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