Notice to register details to the Cyprus Republic UBOs final Registry and imposition of penalties
Following the previous announcements of the Cyprus registrar with respect to the filing of the details of the Ultimate Beneficial Owners (UBOs) of the Cyprus companies, the Cyprus registrar has launched the new and final platform for the submission of the details of the UBOs.
According to their announcement, as from 14/11/2023 till 31/12/2023 all Cyprus companies and legal entities are obligated to re-submit the details of their UBOs. To this respect, the director or secretary of the Company has to enter the new system and confirm or amend the details of the UBOs of their companies. Failure to do so, as from 01/01/2024 the registrar will impose penalties to the company and each of its officers of two hundred euros (€200) fixed penalty and a further fine of one hundred euros (€100) for each day of continued violation with a maximum total charge of twenty thousand euros (€20,000).
How to proceed:
All Cyprus companies and legal entities should enter the website for the new platform which is in the below link, which you can access through with your Ariadni codes (of the officer or of the company) as it was done in the intermediary phase of the UBOs registry and proceed with the submission of the details https://ubo.meci.gov.cy/sign-in