ARTICLE · 18 JANUARY 2024

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CyTBOR – A New Reality?

P. N. Kourtellos & Associates

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CyTBOR will provide easy and immediate access to updated information and data regarding the Beneficial Owners of Express Trusts and Similar Legal Arrangements.

CyprusGovernment, Public Sector

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The Cyprus Securities and Exchange Commission (CySEC) has announced on 13 May 2022 that the online platform for the Cyprus Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements ("CyTBOR") will be accessible to trustees as of 17/05/2022 and for all involved parties as of 17/06/2022.

The creation and establishment of CyTBOR emerged in more particular from Article 61C(4)(a) of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 ("AML/CFT Law"), in full accordance with the 4^th and 5^th European Directives on the Prevention and Suppression of Money Laundering and Terrorist Financing.

CyTBOR will provide easy and immediate access to updated information and data regarding the Beneficial Owners of Express Trusts and Similar Legal Arrangements. The platform will provide access to information such as the identity of the settlor, trustee, protector (if appointed), beneficiary as well as any other natural person

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