| Beneficial Owners Details Due by December 31st 2024
We would like to remind you that all entities registered under Companies Law, Cap. 113, including European Companies (SE) and Partnerships, are required to confirm the details of their beneficial owners and senior management officials annually. This confirmation period runs from 1 October to 31 December 2024.
Our firm will handle the submission of these details on behalf of our client. If there have been any changes to your Ultimate Beneficial Owners (UBOs) during this period, please inform us as soon as possible, so we can update the Register of Beneficial Owners before the 31 December 2024 deadline.
If any changes occur after this deadline, you will not need to reconfirm the details until the next annual period.
Penalties for Non-Compliance
- Failure to confirm by 31 December 2024 will result in a €200 fine on the first day and an additional €100 for each subsequent day of non-compliance, capped at €20,000.
- Officers who can demonstrate that they exercised due diligence and that the non-compliance was not due to their actions may be exempt from these penalties.
If you have any questions or need assistance with your UBO details, please don’t hesitate to contact us at csaudit@coser.com.cy or 24634222 |
