21 Jan, 2021

Launch date for collection of UBO data in Cyprus

Categories: Uncategorized

Cyprus Council of Ministers has appointed on 16th December 2020 the Department of Registrar of Companies and Official Receiver (RoC) of the Ministry of Energy, Commerce and Industry of the Republic of Cyprus, as the competent authority to implement and maintain a centralized UBO Register for ultimate beneficial owners of corporate and other legal entities, in accordance with the 4th Anti-Money Laundering Directive of the European Union.

The collection of the UBO data is scheduled to start on 16th March 2021 and an online system has been developed for this purpose, allowing access to competent authorities upon request.

A permanent UBO Register platform will be developed in the second half of 2021, with access based on the provisions of the 5th Anti-Money Laundering Directive of the European Union.

For more information and/or advice, please contact us via email at info@finexpertiza.cy