Deadline for submitting beneficial owner information also extended to January 31, 2025
The Prevention and Suppression of Money Laundering (Amendment) (No. 2) Law of 2024 (published December 6, 2024) introduced changes to the framework of the register of beneficial owners.
The main amendments relate to:
In addition, Directive KDP 423/2024 (dated December 16, 2024) extended the deadline for submitting beneficial owner information for all companies and other legal entities until January 31, 2025, and also extended the deadline for completing the verification process for the year 2024 until March 31, 2025.
Read a December 2024 report prepared by the KPMG member firm in Cyprus