UBO Register 2025
Announcement of the Registrar of Companies regarding the confirmation of the UBOs with the UBO Register 2025
The Department of Registrar of Companies and Intellectual Property (DRCIP) informs that all companies incorporated or registered under the Companies Law, Cap. 113, all European Public Limited-Liability Companies (SE), and all Cooperatives (hereinafter referred to as Organizations), are required to log into the Beneficial Owners Register (BOR) system from 1 October 2025 until 31 December 2025 and proceed with the confirmation of the details of the beneficial owners (BOs) or the senior managing officials or with due diligence checks (as applicable in each case).
Please note that if by 31 December 2025 the confirmation of details in the BOR is not completed as above, irrespective of any criminal liability or prosecution of any person, the company or other legal entity will be subject to a financial penalty of one hundred euros (€100) on the first day, and a further fifty euros (€50) for each additional day the violation continues, up to amaximum total penalty of five thousand euros (€5,000).
In the section "Frequently Asked Questions – Beneficial Owners", under "Confirmation of details in the Beneficial Owners Register", you can find the steps for the confirmation procedure in the BOR system at the following link:
It is noted that if the initial registration, a change or any other action in the BO system concerning the details of BOs or senior managing officials, or due diligence of the company or other legal entity occurs during the confirmation period (i.e. between 1/10 and 31/12 of the current year), then the initial registration or change or any other action must be carried out, and subsequently the confirmation of the BOs' or senior managing officials' or due diligence details (as applicable in each case) must also be completed by 31/12 of the current year.
Please note that the confirmation of details must be performed only once during the period 1/10 to 31/12 of the current year. In the event that after the confirmation of details a change or any other action arises, the confirmation does not need to be repeated.
Queries regarding BO matters should be sent to: Ubos@meci.gov.cy
The Beneficial Owners Register is electronic and updates are made exclusively through the following link: https://ubo.meci.gov.cy
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
