Establishment of UBO Register for companies in Cyprus: revised starting date

Following an official announcement by the Department of Registrar of Companies and Official Receiver of the Republic of Cyprus, the starting date for the collection of the relevant information from companies and other legal entities has been revised to start on 22 February 2021. The information collection process will last for a period of 6 months (i.e., until 22 August 2021).

(This newsletter article is an update to our earlier article entitled: Establishment of UBO Register for companies in Cyprus.)

According to the Cyprus Bar Association, any registration of information onto the UBO Register system is not compulsory until the enactment of the relevant governing regulations, which are expected to be enacted in the following 2 months.

Companies and other legal entities affected by the implementation of the UBO Register are advised to liaise with their Administrative Service Providers (ASP) and Corporate & Legal advisers in order to prepare for and ensure compliance with the new legislative framework.

Cyprus Profile

articles | 20 January 2021 | ServPRO