The 5th Anti-Money Laundering EU Directive was transposed into Cyprus legislation through the Prevention and Suppression of Money Laundering Activities Laws of 2017-2021 (the “Law”) on 23 February 2021.
According to the Law, companies and any other legal entities incorporated in Cyprus must obtain and maintain accurate and up-to-date information concerning the beneficial owner(s) of the company or legal entity. This information is registered, kept, stored and updated by the company or legal entity and its officers in its registered office.
The Law provides for the establishment of a central beneficial owner register of the companies or other legal entities.
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