The updated templates were developed to address challenges previously encountered in the notification process. By standardising the submission format, the Ministry of Finance seeks to improve the accuracy of information received and facilitate its efficient transfer to centralised databases for timely processing.

There are now two notification templates based on the entity completing the notification:

• Legal persons, entities, and bodieswhich are required to submit notifications under Article 5r(1) of Regulation 833 and must complete and submit the updated notification form on a quarterly basis from 1 July 2025.
• Credit and financial institutionswhich are required to submit notifications under Article 5r(2) of Regulation 833 and must complete and submit their notifications using the revised format on a semi-annual basis from 1 July 2025.

Submissions must be completed electronically and sent to the Ministry of Finance via the designated email address at sanctions.compliance@mof.gov.cy.

Importantly, the new templates contain fields which are expressly relevant to securities transactions.

Entities required to comply should ensure prompt access to and familiarisation with the revised templates to meet the new requirements from 1 July 2025.

The new notification files can be accessed directly on the Ministry of Finance's website here.