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Compliance, Government of Cyprus

Cyprus House of Representatives Reduces Penalties for Late Submission of Ultimate Beneficial Owner Declaration

22 November 202422 November 2024Michalis C. ZambartasCyprus, fines, law, Penalty, registrar, Ultimate Beneficial Owner

On 21 November 2024, the House of Parliament passed a law amendment significantly reducing the fines for corporate entities that fail to declare their ultimate beneficial owners (UBOs) on time.
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compliance
Company Law, Compliance

Deletion of Fines for Failure to Comply with Cyprus Beneficial Owner Registry

10 October 202410 October 2024Michalis C. Zambartasbeneficial owner, beneficial owner registry, BO, Cyprus, fines, UBO

The Parliamentary Committee on Energy, Trade, Industry and Tourism of the Cyprus House of Representatives decided on 8 October 2024 to delete all fines imposed for failing to submit the
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compliance
Compliance, Uncategorized

Cyprus Register of Beneficial Owners – Imposition of Monetary Fines

29 August 202429 August 2024Michalis C. ZambartasCyprus, Department of the Registrar of Companies and Intellectual Property, fines, monetary fines, Register of Beneficial Owners

On 16 July 2024, the Department of the Registrar of Companies and Intellectual Property announced that in cases of change of officers/partners in a company/cooperative, the responsibility to carry out
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Financial Penalty
Company Law, Compliance

Late Filing Penalty for Annual Returns Compiled within 2021, 2022 Capped at €150

11 July 202211 July 2022Michalis C. ZambartasAnnual Return, Cyprus, fines, HE32, late filing, Penalty, registrar of companies

The Department of the Registrar of Companies and Intellectual Property Cyprus recently announced that the maximum total amount for late filing of Annual Returns, compiled within 2021 and 2022, will
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