Cyprus Companies UBO Register: Clarifications for certain exceptions
The Department of Registrar of Companies and Intellectual Property announced that, in accordance with the Directive of the Registrar of Companies, companies that filed for their strike-off before March 12, 2021, or whose liquidation process began before March 12, 2021, are exempt from the obligation to submit information about the ultimate beneficial owners to the UBO Register as follows:
- In the case of strike off, the date of submission of the relevant application to the Department is the date to note for exemption purposes;
- In the case of voluntary liquidation, the date of the resolution is the date to note for exemption purposes;
- In the case of liquidation through the Court, the date of submission of the relevant application to the Court is the date to note for exemption purposes.
In addition, if a company’s officers resigned after March 12, 2021, leaving the company without officers, the duty to provide information on the ultimate beneficial owners to the UBO Register remains. The same applies if a company filed an application for striking off after March 12, 2021, in accordance with Article 327 (2A) (a) of the Cyprus Companies Act.
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