Such an announcement was published by the Cyprus Registrar of Companies. It is now possible to submit information about beneficial owners to the UBO Register until March 31, 2024.
The decision applies to all companies and legal entities registered in Cyprus and was adopted in order to increase the time allotted to comply with the requirements of the law. After the set date, penalties will be applied to those who do not submit information.
Thus, to avoid liability, it is recommended to submit information on time.
Information about the beneficiaries, including full name, date of birth, residential address, citizenship and ownership share in the company, is provided to the Register. Information is provided through a special IRIS system.