UBO Register for Partnerships
Registration of Beneficial Owners of Partnerships to the Beneficial Owner Register
The Department of Registrar of Companies of the Ministry of Energy, Commerce and Industry announced that following a legal opinion from the Attorney General, all Partnerships registered with the Registrar of Companies pursuant to Article 50 of the General and Limited Partnership and Business Names Law (Cap. 116) have the obligation to enter the details of their Beneficial Owners into the Beneficial Owner Register.
Therefore, Partnerships are considered legal entities that are registered with the Registrar of Companies and fall under the interpretation of “other legal entities” on Prevention and Suppression of Money Laundering and Terrorist Financing Law, 2007 (Ν188 (I)/2007).
For the time being, the submission of Beneficial Owners’ details for Partnerships Into the interim solution system is not available. The system is being updated and it is expected to launch in October.
The submission procedure for Partnerships will be similar to that of the submission of Beneficial Owners’ details for companies. Partnerships are advised to proceed with the creation of a profile on “ARIADNE” following the procedure that also applies for companies.