European Court of Justice rules against general public access to UBO registry

After the debate of whether AML regulations can come in conflict with GDPR regulations for EU citizens, the European Court of Justice issued a judgment dated 22/11/2022 that (quoted from the press release) “…the general public’s access to information on beneficial ownership constitutes a serious interference with the fundamental rights to respect for private life and to the protection of personal data…”

Therefore (again quoted) “… the provision of the anti-money-laundering directive whereby Member States must ensure that the information on the beneficial ownership of corporate and other legal entities incorporated within their territory is accessible in all cases to any member of the general public is invalid

Under these circumstances, our Firm will wait for further instructions and clarifications from the Cyprus Registrar of Companies and inform our clients respectively on how to proceed regarding their personal data submitted to the Cyprus UBO Registry.

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