New Obligations for Employers: Submission of Essential Employment Terms on the ERGANI Portal
In a move to enhance transparency in the workplace, the Ministry of Labour and Social Insurance has implemented a new requirement for employers under the …
On 23 February 2021, Cyprus fully implemented the provisions of the 5th Anti-Money Laundering EU Directive 2018/843 on its domestic legislation, whereby it was decided to establish central registers of ultimate beneficial owners; one of them being the Register of Beneficial Owners of Express Trusts and similar legal arrangements (the “Register”).
The term “express trust” refers only to those trusts created expressly by a settlor at their own will, and does not include trusts arising by operation of law nor trusts for which the settlor shows no clear intention for their creation.
Express trusts must be registered provided that:
Required information:
A. For the Trusts
B. For the Ultimate Beneficial Owners of the Trust (Trustee, Settlor, Protector, Beneficiaries)
A six-month period has been granted for the submission of the aforementioned information and documentation in the Register.
In a move to enhance transparency in the workplace, the Ministry of Labour and Social Insurance has implemented a new requirement for employers under the …
Intellectual Property (IP) has a crucial role in driving innovation, economic growth, and societal well-being. As we celebrate World Intellectual Property Day, it is essential …
We are proud to announce that Athos Demetriou Associates LLC has once again been recommended in 3 practice areas in The Legal 500 EMEA - …
On 29 February 2024, the House of Representatives approved the Cyprus Government Bill to abolish the Annual Levy of EUR350, which was payable to the …