Entries by webdevel

Cyprus – current information

Annual Levy 2022
The deadline for the payment of the Annual Levy for the year 2022 is extended until 31 December 2022, without the imposition of any additional penalty, as voted on 30 June 2022 by the House of Representatives

Register of beneficial owners
The Department of the Registrar of Companies and Intellectual Property of the Ministry of Energy, Trade and Industry, informs the business community that the operation of the interim solution for registration in the Register of Beneficial Beneficiaries for companies and other legal entities will continue beyond July 31, 2022 and until the implementation of the final solution for which the Department will make an announcement soon.

It is recommended that those companies or other legal entities that have not yet fulfilled their obligations to update the Register of Beneficial Beneficiaries based on the provisions of Directive KDP112/2021 of the Comptroller of Companies, hurry to do so.

With the commencement of operation of the final solution, the provisions of article 11 of the Directive are automatically implemented, which provides for the imposition of a financial burden on the company and each of its officials, for failure to comply with the relevant provisions of the Directive, as well as the provisions of article 61A(10 )(f)(i) of the Prevention and Combating of Money Laundering Law of 2007, which provides that failure to fulfil the obligation to submit information on the beneficial owners of companies and other legal entities constitutes a criminal offense.