Additional requirement to access Cyprus’ UBO register
11 Jan 2023
|
On 3 January 2023, the Cyprus Registrar of Companies announced that, following the suspension of public access to the Beneficial Owner Register in line with the requirements of EU case law (see our earlier blog post here), members of staff of obliged entities under the AML regime (eg financial and credit institutions and similar) will need to submit a “solemn declaration” in order to access UBO information on the register moving forward.
Under this process, the obliged entities would be entitled to access solely in order to conduct their KYC exercises on their own customers and applicants for business. The making of a false statements on the solemn declaration may amount to the criminal offence of perjury under Cyprus law.
The Solemn Declaration can be found here and the official announcement here.
Authors
Related content
Regulatory Blog
Cyprus updates its 2023 lists of CRS reportable and participating jurisdictions
Regulatory Blog
Cayman widens the net but stops short of imposing public access with new Beneficial Ownership Transparency Bill, 2023
Regulatory Blog
Important reminder for all BVI-registered companies and limited partnerships – BVI economic substance reporting changes and deadlines