Following the decision of the Council of Ministers to transpose the 4th Anti-Money Laundering Directive (EU) 2015/849 to the national legislation, the Registrar of Companies, has been appointed as the competent authority to maintain a centralized register of beneficial owners (“UBO”). The officers of Cypriot entities are obliged to identify and record electronically on the beneficial owner register the required information of the beneficial owners of such entities, (including partnerships and trusts), to the extent that they are registered with the Department of Companies and Official Receiver.
The Ministry of Energy, Commerce and Industry together with the Registrar of Companies set the 12th of March 2022 as the last date for the submission of the relevant details to the beneficial owner register.
HOW WE CAN HELP
Our office can assist you and your legal entity for the submission of relevant information with the Registrar of Companies. For further information and clarifications please contact Ms. Anna Skouri at anna@ademetrioulaw.com / +357 22 80 99 00
Athos Demetriou Associates LLC adds yet another practice area in the coveted Legal 500 EMEA top tier practice areas
On June 25, 2021 the Cyprus Securities and Exchange Commission (CySEC) published a Directive on ‘the Register of Providers of Services Regarding Crypto Assets’ (R.A.D …
In BriefOn 15 October 2021 the Cyprus government presented its Action Plan to attract companies that operate or wish to expand their activities to Cyprus, …
In BriefCyprus introduced on July 1st 2017 a simple, yet favorable, tax incentive scheme in an attempt to promote R&D in firms, and encourage innovation …