Cyprus

The Department of the Registrar of Companies and Intellectual Property (DRCIP) has recently announced important changes to the implementation framework of the Register of Beneficial Owners. These changes are introduced under Law No. 141(I)/2024, which amends the Prevention and Suppression of Money Laundering Activities Law of 2007 (the ‘AML Legislation’). These changes seek to enhance […]

Cyprus is one of the jurisdictions that allows the redomiciliation of Companies in and out of the country. A Company which is operating under the laws of the Republic of Cyprus and which wishes to continue to operate under the legal regime of a foreign jurisdiction, may apply to transfer its seat to the foreign

The Minister of Finance announced on February 7th, 2024, the revision of the Strategy for attracting foreign businesses and talent to Cyprus. The revised Strategy aims to increase the presence of foreign businesses and talent in Cyprus, create new job opportunities, bring expertise and boost the economy of Cyprus. Aspects of the Revised Strategy Some

The Department of the Registrar of Companies announced the extension of the deadline for the submission of the Ultimate Beneficial Owner (UBO) details of all Cyprus companies and other legal entities to the Final Solution of the UBO Register to March 31st, 2024. Cyprus companies and other legal entities have the obligation to proceed with