Corporate News: Commencement of the Central Register for Cyprus Companies in regards to Ultimate Beneficial Owners (UBO Register in Cyprus)
The Cyprus Registrar of Companies has already launched a new register, the Central Register for Cyprus Companies (UBO Register in Cyprus), and partnerships in regards to Ulitmate Beneficial Owners (UBOs) which should be updated by all Cyprus companies and Cyprus partnerships. That is, in addition to the existing Cyprus shareholders’ register kept by the Cyprus Registrar of Companies, a New Central Register for Cyprus Companies (UBO Register in Cyprus), and Cyprus Partnerships for the Ultimate Beneficial Owners are now in operation. This is particularly important in cases where one person owns shares on behalf of another.
In order to be able to update the new Registrar of Companies Register for Ultimate Beneficial Owners (UBO Register in Cyprus), the following must first be done:
- Creation of a corporate profile in the government Portal “ARIADNE”
- Identification of the Cyprus company or Cyprus partnership with the physical presence of a representative of the company or officials of the company at the Citizens ‘Service Centers (KEP), Citizens’ Centers of the Cyprus Post (KEPO), and District Offices of the Ministry of Energy and at the Cyprus Registrar of Companies in Nicosia.
Changes in the details/information of the beneficial owners must be recorded to the UBO Register in Cyprus within 14 days from the date that the change in the information came to the knowledge of the company
For more information in regards to the Cyprus Register for Ultimate Beneficial Owners, our firm has previously published a post. To read the post click here.
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