News

The Department of Registrar of Companies and Intellectual Property of the Ministry of Energy, Commerce and Industry, following the announcement dated 25.05.21, informs the business community that during the operation of the interim solution NO penalties will be imposed.

 Penalties and the criminal offenses will be imposed during the implementation of the final solution, the exact date of which will be announced the Department in due course. It is emphasized that any penalties will not be imposed retroactively.

 In addition, it is clarified that in cases where a company has been struck off or dissolved due to the completion of the liquidation from the register of the Registrar of Companies, it is not obliged to enter the data in the Beneficial Owners register and no penalties will be imposed.

 For any clarifications or enquiries related to the register of beneficial owners, you can visit the Register of Beneficial Owners section which contains detailed information on the process of creating and authenticating profiles, submitting BO details, FAQ’s, guidance, legislation.

 In case your question is not answered by the above material, you may submit it solely and exclusively in writing to the email address Ubos@meci.gov.cy