The Interim Solution providing for the establishment of an ultimate beneficial ownership (UBO) Register for Cypriot entities has launched on 16 March 2021 and is in operation. The obligation to identify and record all relevant information of the beneficial owner(s) who own or control entities burdens all Cypriot entities, including companies incorporated or registered under the Companies Act (Cap.113) and European public limited liability companies. Moreover, the Registrar of Companies has also announced that the final solution will be established following the conclusion of this Interim Solution and the collection of all UBO information.
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