Cyprus: Guidance on submission of data to register of beneficial owners
Due diligence to comply with requirement to submit beneficial owners details to register of beneficial owners
Guidance on submission of data
The Department of the Registrar of Companies and Intellectual Property announced that an official of a company or other legal entity will not be subject to penalties if he or she exercises due diligence to comply with the requirement to submit beneficial owners details to the register of beneficial owners.
The department also clarified that:
- Companies that registered a request for deletion before 12 of March 2021 are exempt from the obligation to register the details of the beneficial owners.
- Companies for which the delisting process is in process but have not yet been delisted are required to register the details of the beneficial owners within the prescribed deadline.
Read a March 2024 report prepared by the KPMG member firm in Cyprus
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