Cyprus Registrar of Companies Suspends Access to UBO Register

As mentioned in our previous newsfeed on this matter, further to the decision of the European Court of Justice (ECJ) that public access to the registers of beneficial owners (UBO Registers) held by EU member states is illegal, the Cyprus Registrar of Companies (the ‘Registrar’) announced on 28 November 2022 that access to the UBO Register for the general public is suspended with effect from 23 November 2022.

The Registrar further clarified that the relevant information to the competent and supervisory authorities as well as the Unit for Combating Money Laundering (MOKAS), will continue to be provided with the applicable procedure. 

The relevant information will, also continue to be provided to the obliged entities, with the applicable procedure by submitting additionally a solemn declaration confirming that the information on the beneficial owners is requested within the context of performing customer due diligence. 

It is also noted that the obligation of companies and partnerships to submit and update their beneficial owners information is not affected and remains valid.

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