How To Confirm Beneficial Ownership | Cybooks - Accounting Software streamlined for the Cypriot market

In Cyprus, companies are required to confirm the details of their Ultimate Beneficial Owners (UBOs) annually. This confirmation must be completed between October 1 and December 31 each year.

Go to https://ubo.meci.gov.cy/ which is the register of beneficial owners in Cyprus
Login with your Government account
Search for your company
Click on the "Beneficial owners" tab
Open the "Actions" menu on the right and click "Confirmation of PD details"

Who are the beneficial owners of Cyprus company?

Beneficial owners are the individuals who ultimately own or control a Cyprus company. Typically, these are the people who hold significant shares or voting rights, or who benefit financially from the company's activities. Under Cyprus regulations, a beneficial owner is defined as someone who directly or indirectly owns 25% or more of the company.

How do I find a company's UBO?

To identify the Ultimate Beneficial Owner (UBO) of a Cyprus company, you can access the publicly available UBO Register. This register contains up-to-date information on beneficial owners and can be accessed via the Cyprus Registrar of Companies. Companies are required by law to submit UBO information, ensuring transparency.

What is the definition of UBO Cyprus?

In Cyprus, a UBO (Ultimate Beneficial Owner) is defined as any natural person who ultimately owns or controls a company through direct or indirect ownership of a sufficient percentage of the company’s shares or voting rights. Generally, this threshold is set at 25% or more, and it may involve direct or indirect control exercised through other structures or entities.

What is the penalty for UBO in Cyprus?

As of January 1, 2024, entities in Cyprus that fail to comply with UBO reporting obligations may face penalties. Failiure to confirm this information by the 31 December of the current year will result in penalities:

200 EUR initial fine
100 EUR each day for continued non-compliance and up to a maximum of 20,000 EUR

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Christopher Dosin

Head of Content @ Cybooks (or, in plain English, I'm the guy responsible for ensuring that every blog post we publish is EPIC).