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ARTICLE · 25 MAY 2022

CySEC Launches "CyTBOR" Platform

AGPLAW | A.G. Paphitis & Co. LLC
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It should be noted that, CyTBOR platform is available to trustees as of 17th of May 2022 and all respective parties as of 17th of June 2022.

CyprusCorporate/Commercial Law
AGP Law/ A.G. Paphitis & Co. LLC
AGP Law/ A.G. Paphitis & Co. LLC
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On 13th of May 2022, the Cyprus Securities and Exchange Commission (CySEC) announced the launch of the online platform for the Cyprus Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements (CyTBOR)The CyTBOR platform, will allow easy and prompt searches for up-to-date information and data in relation to the beneficial owners of Express Trusts and Similar Legal Arrangements.

As such, data available will enable for direct search and identification of settlors, trustees, protectors (if any), the beneficiaries and any other natural person exercising supreme control over the trust by direct or indirect ownership, or any other means.

Pursuant to article 61C (4) (a) of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007, derives the requisite for the Registry (CyTBOR), which is in full harmony with the 4th and 5th European Directives or the Prevention and Suppression of Money Laundering and Terrorist Financing.

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