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Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

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George Apostolou
George Apostolou
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Chiara Deceglie
Chiara Deceglie
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Massimiliano della Zonca
Massimiliano della Zonca
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Philip Graham
Philip Graham
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  • British Virgin Islands
Ayana Hull
Ayana Hull
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  • Counsel
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Katerina Katsiami
Katerina Katsiami
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Andrew Knight
Andrew Knight
  • Andrew Knight

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Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

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Mirza Manraj
Mirza Manraj
  • Mirza Manraj

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Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
  • Cyprus
Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

  • Partner
  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Consultant
  • Cyprus
Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Group General Counsel
  • Cayman Islands

CIFA reminds its members about the Cyprus Beneficial Ownership Register

On 15 October 2021, the Cyprus Investment Funds Association (CIFA) reminded the industry about the Registrar of Companies directive on the operation of the Central Registry of Real Beneficiary Companies and other Legal Entities (UBO Register). Among other things, it stipulates that all companies that have been set up or registered based on the Companies Law as well as European public limited liability companies (SE) and partnerships have an obligation to register their beneficial owners in the UBO Register before the deadline expires in March 2022.

The registration of the data must be processed electronically through the interim solution system (ISS) created by the Registry which came into force on 16 March 2021.

While the ISS is in place, expected to be until 22 March 2022, no fines will be imposed by the Registrar of Companies on defaulting companies and partnerships. In this respect, all parties involved are prompted to proceed as soon as possible and definitely before 22 March 2022, to submit the data to the UBO Register.

The official announcement (in Greek) can be found here.

Our previous blog posts on this matter can be found here and here.