Cyprus Introduces Registers of Beneficial Owners

The Prevention and Suppression of Money Laundering Activities Laws of 2017-2021 provided for the establishment of a central register of the beneficial owners of companies or other legal entities in Cyprus. In addition, a central register of all owners of bank accounts will be created and held by the Central Bank of Cyprus. 

Cyprus entities formed before 16 March 2021 will need to register their Beneficial Owners by 16 September. Entities formed on or after 16 March 2021 are subject to the new requirements immediately.

For more detailed information on these new requirements, read our briefing note.