Important Changes to the Beneficial Owners’ Register in Cyprus

📢 Important Changes to the Beneficial Owners’ Register in Cyprus 📢

The Cyprus Parliament has amended the Anti-Money Laundering Law, introducing important changes related with the practical implementation of the Beneficial Owners’ Register (BO Register).

Key updates include revised monetary fines solely targeting non-compliant companies, liability adjustments for directors, and extensions for filing details of the beneficial owners.

These changes aim to ensure compliance while maintaining Cyprus as a robust business hub.

#Compliance #BusinessUpdates #BeneficialOwnership #AML #Cyprus

For More Information read below 📖

https://www.pavlaw.com/publication/important-changes-to-the-beneficial-owners-register-in-cyprus/