Imposition of financial charges on the Registry of Ultimate Beneficial Owners (UBOs)

Written by Stelios Spiliotis
27 May, 2024

On 15 May 2024, the Department of the Registrar of Companies and Intellectual Property informed that in cases of change of officers/partners in a company/partnership, it is the responsibility of the new officers/partners of a company/partnership, before accepting their appointment, to investigate whether a company/cooperative has declared the beneficial owners in the beneficial ownership system of the Department of the Registrar of Companies and Intellectual Property.

Otherwise, in case of change of officers/partners in a company/partnership, the financial charges will be borne by the officers/partners who are appointed on the date of submission of the beneficial ownership information.

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