FAQ's-UBO's

Based on the announcement of the Department dated 16/12/2024 - Σημαντικές αλλαγές στο πλαίσιο εφαρμογής του Μητρώου Πραγματικών Δικαιούχων, as from 01/02/2025 and onwards fines and other penalties are imposed in accordance with the provisions of The Prevention and Suppression of Money Laundering and Terrorist Financing Law (Law 188(I)/2007) and the Directive ΚΔΠ112/2021, as amended and in force.

It is noted that according to the ΚΔΠ 112/2021 as amended and in force and the Law 188(I)/2007, 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 shall be liable to a fine of:

• one hundred Euros (€100) and

• a further fine of fifty Euros (€50) for each day of continuation of the violation with a maximum total fine of five thousand Euros (€ 5,000)

Director or other managing director of a company or other legal entity that refuses or omits or neglects to comply is jointly and/or severally liable with the company or legal entity for repayment of the fine imposed on the company or legal entity

Director or manager of a company or other legal entity shall not be held for the repayment of  the fine imposed on the company or legal entity if he had exercised due diligence on the compliance and the violation is not due to any act or omission or negligence on his behalf. Due diligence is described in Part 3.5 of the Department's Guidance (click here)