Further to our
previous newsfeed on this, the Cyprus Registrar of Companies through an announcement
issued on 9 December 2022, clarified that what should be declared is the latest
available information about a beneficial owner of an investment fund.
The initial
submission of information should be based on the Net Asset Value (NAV)
calculation on both management shares and investment shares.
Investment funds
created before 12 March 2021 need to submit information to the UBO Register
during the interim solution period. Investment funds set up after 12 March 2021
are required to submit information within 30 days from the date they were set
up.
It is reminded that Investment
Funds must report any changes to their beneficial owners within 14 days from
the latest official NAV calculation.
It is also reminded
that the interim solution duration has been extended until the final solution
will enter in to force.