Register of Ultimate Beneficial Owners in Cyprus. Extension of the deadline for providing data

The deadline for providing data on the final beneficiaries of Cypriot companies has been extended until July 30.

At the end of February 2021, the provisions of the 5th Directive "On the prevention of the use of the financial system for money laundering or terrorist financing" were implemented into the national legislation of Cyprus.

In accordance with the provisions of this directive, a Register of Ultimate Beneficial Owners has been introduced in Cyprus.

The register containing information about beneficiaries is maintained in electronic form on the state portal "ARIADNI".

Initially, it was planned that the deadline for submitting data to the Register would be March 12, 2022, but due to the large volume of information requiring entry into the Register, the deadline for submission was extended to July 30, 2022.