Last year the Council of Ministers decided to transpose the 4th Anti-Money Laundering Directive (EU) 2015/849 to the national legislation. The registry development has been completed and the Ministry of Finance announced its official operation on April 6th, 2021.  

Τhe Department of Registrar reported today, March 1st, that the submission period of beneficial owners' data shall be extended until July 31st, 2022.

Therefore, all legal entities registered in Cyprus are granted a grace period of an additional 4 months to submit their relevant information and reportable details to the system. As a result, all legal persons and legal arrangements through their registered agents have a duty to comply with the provisions of the legislation by July 31st, 2022. 

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.