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According to the 1st Directive (ΚΔΠ 112/2021) for the operation of the Beneficial Owners Registry by the Registrar of Companies of Cyprus, all companies or other legal entities (Cooperatives) that were established before March 12, 2021 and each of their officials have the obligation to submit to the Registrar of Companies the information required for the Beneficial Owner no later than 12.3.2022.

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The Cyprus Registrar annouced the below related to the BOs registry:

• As from today the officials / partners of a legal entity may submit on the BO register the beneficial owner’s details on behalf of their legal entity

• As from today the submission of the beneficial owner’s details of a partnership is also possible via the creation of a partnership profile in Ariadni

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On Friday October 15th the Cyprus Government announced its new Action Plan for attracting new companies for operate or expand their activities in the island. The new strategy is in line with the guidelines European Commission and the Recovery and Resilience Facility and aims to introduce Cyprus as an ideal jurisdiction for High Tec, Research and Development and Shipping investments and also improve its attractiveness in Europe.

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