For any owner of a Cypriot company, there are six must-know requirements that cannot be overlooked. Read this article to get your ducks in a row and ensure compliance for the fiscal year. 1. Annual returns – All Cyprus companies are required to hold a yearly General Meeting and file an annual return with the […]
The end of anonymity. Cyprus transposes into Law the Fifth Anti-money laundering Directive. (Directive 2018/843)
Introduction The Fifth Anti-Money Laundering Directive (5AMLD) came into effect on the 10th January 2020 and serves to address new issues that have been exposed since the Fourth Anti-Money Laundering Directive which came into force back in 2017. It is a European Union (EU) legislation with the aim to strengthen the barriers in the battle against money laundering and […]
The operation of the Ultimate Beneficial Owners Registry for Cypriot Companies.
According to the provisions of new Cyprus legislation adopted in 2021 concerning money laundering, all Cypriot companies are obliged to register the details of their beneficial owners in an electronic register set up by the Registrar of Cyprus (“the Register”). The Register will be publicly accessible from January 1, 2023 while for the time being it […]
Who will have access to the Registry of Ultimate Beneficial Owners in Cyprus?
The release of the information added on the UBO Registry in Cyprus is divided to two phases: Phase 1. During the first 12-month reporting period, i.e., starting from 12.03.2021 to 12.03.2022, only Cyprus competent supervisory authorities such as the Financial Intelligence Unit (FIU) of Cyprus, the Customs Department, the Tax Department and the Police will […]
What is the annual return?
What is the annual return? The Annual Return (also known as form HE32) is a statutory document that Cyprus companies must submit to the Company Registrar each year as provided for in section 118 of the Companies Law. The annual return is like a photograph of the state of affairs of a company which needs […]