We would like to inform you that further extension is given to the start date of the Central Registry of Beneficial Owners. Based on the official announcement of the Cyprus Registrar of Companies and Official Receiver the start date for the collection of data on Real Beneficiaries and other legal entities is March 16, 2021.
Following the Obstruction and Combating Money Laundering Activities Law of 2007-2019 as amended in 2018 voted by the Cyprus Parliament, a legislation which resulted from the mandatory 4th European AML Directive (EE 2015/849) for the prevention of the use of the financial system for money laundering activities or for the financing of terrorism, we would like to inform you that the Cyprus Council of Ministers has appointed recently the Cyprus registrar of Companies as the appropriate governmental department to proceed with the establishment of a central registry of beneficial ownership of companies and other legal entities existing in its records in Cyprus.
The Cyprus Tax Department announced that the European Council Directive 2018/822 known as DAC6, is expected to be incorporated into the Cyprus legislation within the current month.
