We would like to remind our clients that all companies incorporated or registered under the Company Law, Cap. 113, all European Public Limited Companies (SEs), and all Partnerships, are required to access the Beneficial Ownership Register (BOR) system between 1st October 2025 and 31st December 2025, in order to proceed with the confirmation of the details of their Beneficial Owners (BOs) or Senior Management Officials (SMOs) or to apply due diligence (as applicable in each case).
Public companies which, although not obliged to submit the notification form for the transfer of shares and/or change in shareholder details (HE57), are required to file their annual reports in order to ensure the updating of the shareholders’ registry.
Failure to comply by 31st December 2025, regardless of any criminal liability or prosecution of any person, the company or other legal entity will be subject to a fine of one hundred euros (€100) for the first day of non-compliance, and an additional fine of fifty euros (€50) for each subsequent day of continued violation, up to a maximum total fine of five thousand euros (€5,000).
The Register of Beneficial Owners is entirely electronic, and its update is carried out exclusively through the following online link: ubo.meci.gov.cy.
Deadline for Registration of Beneficial Ownership Data and imposition of fines – 2025