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We would like to inform you that the implementation of the final solution of the electronic system of the Beneficial Ownership Register commenced on November 14, 2023.

The implementation is divided into three phases:

The first phase covers the period 14/11/2023-31/12/2023 where all companies and partnerships are required to inform/re-register their Beneficial Owners in the 'Final Solution', even if they have already done so in the interim solution system. Please note that no financial penalties will be imposed during this period.

The second phase covers the period 1/1/2024-29/2/2024 and requires those companies and partnerships that did not inform/re-register their Beneficial Owners in the "Final Solution" during the previous phase to do so. It is noted that at this stage financial charges will be imposed.

During the third phase, which covers a period of 1/4/2024 and thereafter, the provisions of Directive Κ.Δ.Π. 112/2021 as amended enter into force.

Below you may also find the announcement from the page of the Registrar of Companies and Intellectual Property in detail.

https://www.companies.gov.cy/en/knowledgebase/news/2126/?ctype=ar

Please inform us the latest by 18/12/2023, if you would like us to assist you with the above.

Bear in mind that our fees for the above will be €100 + VAT.

Kindly note that for the companies and partnerships that did not proceed with the initial registration of the Beneficial Ownership, they will need to do the whole procedure (Ariadni and submission of UBO).

Our fees for the above will be €250 + VAT.

We remain at your disposal for anything you may need in connection with the above.

Contact person

Stelios Ioannou

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192

Managing Director