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ARTICLE · 12 JULY 2021

Cyprus UBO Register For Trusts

Areti Charidemou & Associates LLC
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Cyprus incorporated in its domestic legislation the provisions of the 5th Anti-Money Laundering EU Directive 2018/843 on the 23rd of February 2021.

CyprusCorporate/Commercial Law
Areti Charidemou & Associates LLC
Areti Charidemou & Associates LLC
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Cyprus incorporated in its domestic legislation the provisions of the 5th Anti-Money Laundering EU Directive 2018/843 on the 23rd of February 2021. This was implemented by amending the Prevention and Suppression of Money Laundering and Terrorist Financing Law 188(I)/2007, whereby it was resolved the creation of the register of ultimate beneficial owners of the Cyprus companies which shall be administrated by the Registrar of Companies and the register of beneficial owners of express trusts and similar legal arrangements (the "Trust Register") which shall be administrated by the Cyprus Securities and Exchange Commission (the "CySEC").

Further to the above, on 18 June 2021, the CySEC published its directive/regulations "for the prevention and suppression of money laundering and terrorist financing in regards to the register of beneficial owners of express trusts and similar legal arrangements", which came into immediate effect and provides details and guidance for

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