Cyprus. Beneficiary Registry 2022

Since June 1 of this year, the Registry of Beneficial Owners became available to the public in Cyprus.

As a reminder, a beneficial owner is any natural person who ultimately owns or controls a company. As a rule, the ownership share directly or indirectly must be above 25% + 1 share. If the beneficial owner cannot be identified, he or she is recognized as the manager.

Previously, only competent and law enforcement agencies, such as the Anti-Money Laundering Unit, Cyprus Police, Central Bank, etc. had access to the registry.

But it must be taken into account that not all companies have yet submitted the necessary information about themselves to the Registry of Beneficiaries.

Collection of information for the register of beneficiaries of Cyprus began March 16, 2021 (before that the start date has been postponed several times for various reasons). July 31, 2022 is the deadline for filing information for existing organizations. Companies, which are created after March 16, within 30 days from the date of registration are required to provide information about the beneficial owners in the registry. At the end of the calendar year (December 1 to December 31), each company must confirm the information provided.

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