On 22 November 2022, the ECJ ruled that public access ti the UBO Registers held by EU member states is now illegal.
It is reminded that based on the provisions of the 5th EU AML Directive, information regarding the beneficial ownership of companies has been accessible to the general public.
The Cyprus Registrar of Companies, announced yesterday 28 November 2022, that the access to the UBO Register for the general public is suspended with effect from the 23 November 2022.
It is noted that the obligation of the companies and partnerships to submit and update the UBO information remains valid.