As of 23 November 2022, the department of Registrar of Companies and Intellectual Property of Cyprus announced that with reference the Court of Justice of the European Union (case C-37/20 and C601/20), the public access to the Register of Beneficial Owners is terminated. The general public access to the beneficial owner is considered illegal since it violates the private life and personal data.

However, any supervisory and any other relevant authority have the right to collect any necessary information. Any relevant information will be provided to the requested entities if this information regarding ownership is required for customer due diligence.

Finally, the obligation to submit and update the Beneficial Owner’s information is not affected and remain active.

Disclaimer: The information provided in this article is for general awareness and is not intended to be and do not constitute a professional advice.