Update and Confirmation of Beneficial Owner Information in the Cyprus Beneficial Owners Registry (BOR)

Dear associates,

This is a reminder that all companies and partnerships registered in Cyprus must update and confirm the details of their Beneficial Owners (BO) or senior management through the Cyprus Beneficial Owners Registry (BOR) between October 1, 2024, and December 31, 2024.

Failure to comply by December 31, 2024, will result in financial penalties, starting with €200 on the first day and an additional €100 for each day of non-compliance, with a maximum total fine of €20,000.

If any changes to Beneficial Owner information or senior management occur during the confirmation period (October 1 to December 31, 2024), these must be recorded in the Cyprus Beneficial Owners Registry before proceeding with the confirmation. This confirmation is required only once during the specified period. No further confirmation is necessary if changes occur after completing this process.

To avoid penalties and ensure compliance with Cyprus regulations, our firm can manage the update and confirmation of your Beneficial Owner information in the Beneficial Owners Registry on behalf of your company.

Contact us today to let us handle the confirmation process on your behalf and ensure compliance with Cyprus law!

Contact details

Tel. +357 22 340000

Email: [email protected]

The authors expressly disclaim all and any liability and responsibility to any person, entity, or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this publication.

Accordingly, no person, entity, or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors, and ensuring that such advice specifically relates to their particular circumstances.