In accordance with the EU directive (EU 2018/843, 30^th May 2018) regarding  the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the “Directive”) and the amendment of the Prevention and Suppression of Money Laundering and Terrorist Financing (Amendment) Law of 2021, each legal entity (i.e. Cyprus companies) must collect all the relevant information regarding their beneficial owner(s) and must submit the said information on the Registrar of Company’s online portal (known as “ARIADNI”) which has been created for this purpose.

Kindly note that:

• all existing companies are obliged to file on the portal until 12 March 2022
• Any changes in the UBO information must be submitted within 14 days from the date that the entity received notice of such change
• New registered entities must submit no later than 30 days from their incorporation
• Annual update every December

It should be noted that responsibility for the submission and timely update of information, as highlighted above, lies with the legal entity and its officials, and penalties may be imposed to those that do not comply with their obligation to submit their beneficial owner(s) data.

Our services:

We can assist you with the registration of your company to ARIADNI, as well as with the collection and submission of all relevant Beneficial Owner information to the Cyprus UBO Registry. Our fees per company for this service will be as follows:

• Initial fee – registration and submission of information (1^st year only) €250 + vat
• Annual renewal fee €150 + vat