Confirmation of Beneficial Owner Details in the Beneficial Owner Register

On 25 September 2024, The Department of the Registrar of Companies and Intellectual Property announced that all companies established or registered under the Companies Law, Cap. 113, all European Public Limited Liability Companies (SE) and all Cooperatives or officials /partners respectively are required to confirm the details of the beneficial owners or top management officers or/and due diligence information in the system of the Beneficial Owner Registry from 1 October 2024 until 31 December 2024.

Non-compliance by the deadline of 31 December 2024 will result in a financial penalty of €200 on the first day and €100 per each following day of non-compliance with a maximum penalty of €20,000 for the company and its officers regardless of the criminal responsibility or prosecution.

if you require assistance updating and/or registering beneficial owner details with the Beneficial Owner Register please contact us via email at info@zambartaslegal.com or telephone at 00357 22 262 108.