Register of Ultimate Beneficial Owners of Companies

ATCA_Updates

Register of Ultimate Beneficial Owners of Companies

On the 18th February 2021, the  House of Representatives of the Republic of Cyprus has voted in favor of the enactment of the Prevention and Suppression of Money Laundering Activities (Amending) Law of 2021 (the Amending AML Law of 2021).

The Amending AML Law of 2021, amongst other, provides for the maintenance and operation of the Register of Ultimate Beneficial Owners of Companies and Other Legal Entities.

The date for the collection of data of Ultimate Beneficial Owners and Other Legal Entities is on the  16th of March 2021. Within the next few days, the Registrar of Companies will issue the 1st Guide on the maintenance and operation of the Register, as well as a manual for the operation of the system that has been developed for such purpose.