FAQ's-UBO's
Penalties
Based on the announcement of the Department dated 28/02/2024 - Ανακοίνωση Τμήματος Εφόρου Εταιρειών και Διανοητικής Ιδιοκτησίας για το Μητρώο Πραγματικών Δικαιούχων and the announcement of the Department dated 14/03/2024 - Ανακοίνωση Εφόρου Εταιρειών και Διανοητικής Ιδιοκτησίας για το Μητρώο Πραγματικών Δικαιούχων as from 01/04/2024 fines and other penalties are imposed in accordance with the provisions of the Prevention and Suppression of Money Laundering Activities Law of 2007 - 188(I)/2007 and the Directive ΚΔΠ 112/2021, as amended and valid.
It is noted that as from 01/01/2024 and onwards in case of non–compliance, notwithstanding the criminal liability or prosecution of any person, where there is a failure to comply with the reporting obligations about the beneficial owners the company and or other legal entity and each of its officers shall be liable to a penalty of:
- two hundred Euros (€ 200) and
- a further fine of one hundred Euros (€ 100) for each day of continuation of the violation with a maximum total fine of twenty thousand Euros (€ 20,000)
Provided that an officer of a company or other legal entity shall not be subject to a fine if he had exercised due diligence to comply with the provisions of this paragraph and the violation is not due to any act or omission or negligence on his part. Due diligence is described in Part 3.5 of the Department's Guidance (click here)