What is the fine for failure to register with the UBO Registry?
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...
Simple guide to Trusts.
A Trust is a private agreement between two or more individuals with which a person transfers his assets to another person who undertakes to hold them and manage them for...
The operation of the Ultimate Beneficial Owners Registry for Cypriot Companies.
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...
Directive for the Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements
Legal Update: 23/06/2021 The Cyprus Securities and Exchange Commission (“CySec”), being the competent independent authority for maintaining and operating the Trusts UBO Registry as required by the transposition of...
The Trusts UBO Registry.
The Cyprus Securities and Exchange Commission (“CySec”), issued the Directive that regulates the operation of the Trusts UBO Registry. The Directive was published on 18/06/2021. A concise summary of the...