News
Continuation of the Interim Solution of the Beneficial Ownership Register beyond the 31st of July, 2022
The Department of Registrar of Companies and Intellectual Property of the Ministry of Energy, Commerce and Industry, informs the business community that the Interim Solution for the Beneficial Ownership Register for Companies and other Legal Entities, will continue beyond the 31st of July 2022 and until the implementation of the final solution, for which the Department will proceed to a relevant announcement soon.
It is recommended that those companies or other legal entities that have not yet fulfilled their obligations to register their beneficial owner’s details onto the Beneficial Ownership Register, as per the provisions of the Companies Directive R.A.A 112/2021 (ΚΔΠ 112/2021), to immediately proceed and do so.
Upon commencement of the final solution, the provisions of section 11 of the Companies Directive will automatically be applied and fines will be imposed to the company and its officers for failure to comply with their reporting obligations. In addition, the provisions of article 61A(10)(f)(i) of the Prevention and Suppression of Money Laundering Activities Law of 2007, on the basis of which failure to submit information regarding their beneficial owners constitutes a criminal offense, will also be implemented.
