Deadline to register to the UBO Registry extented to 31/07/2022
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...
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...
Who will have access to the Registry of Ultimate Beneficial Owners in Cyprus?
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...
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...
The end of anonymity. Cyprus transposes into Law the Fifth Anti-money laundering Directive. (Directive 2018/843)
Introduction The Fifth Anti-Money Laundering Directive (5AMLD) came into effect on the 10th January 2020 and serves to address new issues that have been exposed since the Fourth Anti-Money Laundering...