In 2025, Cyprus continues to strengthen its regulatory framework regarding transparency in corporate ownership. All legal entities incorporated or registered in Cyprus are required to maintain accurate information on their Ultimate Beneficial Owners (UBOs). This obligation is part of Cyprus’s compliance with the European Union’s Anti-Money Laundering (AML) directives and the Prevention and Suppression of Money Laundering and Terrorist Financing Law (Law 188(I)/2007).
Understanding the Beneficial Ownership Register (BOR) in Cyprus for 2025
The Beneficial Ownership Register (BOR) is an electronic system designed to collect, store, and manage information on UBOs of companies, European Public Limited Companies (SEs), and partnerships. By confirming their information annually, entities contribute to the integrity of the financial system, reduce the risk of money laundering, and ensure regulatory compliance.
Who Must Confirm Ultimate Beneficial Ownership Information in 2025
According to the Department of the Registrar of Companies and Intellectual Property (DRCIP), all companies incorporated or registered under the Companies Law, Cap. 113, all European Public Limited Companies (SEs), and all Partnerships (collectively referred to as “Organizations”) must confirm their Ultimate Beneficial Owners (UBOs) information in 2025.
This requirement also applies to senior management officials (SMOs) and any other individuals whose information is relevant under the law. The confirmation ensures that the BOR system reflects the most up-to-date and accurate information about the natural persons who ultimately control or benefit from a company or legal entity.
Annual Confirmation Period: Key Dates for 2025 Compliance
All entities are required to access the BOR system and confirm their UBO information during the designated annual confirmation period:
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Start Date: 1 October 2025
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End Date: 31 December 2025
It is essential to complete the confirmation within this period, as the system will not accept submissions to UBO Registry outside of these dates. The BOR system allows entities to verify, update, and confirm information about their UBOs and senior management in a secure online environment.
We were writing about the final electronic system in the article last year: Register of beneficial owners and about Confirmation of Information in the UBO Register for 2024
Penalties for Failure to Confirm UBO Information by 31 December 2025
Timely confirmation of UBO information is mandatory. Failure to comply by the 31 December 2025 deadline will result in financial penalties:
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Initial Fine: €100 for the first day of non-compliance
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Daily Additional Fine: €50 for each subsequent day of continued non-compliance
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Maximum Total Fine: €5,000
It is important to note that these penalties are automatic and are applied regardless of any criminal liability or prosecution of any individual or entity.
Updating UBO Details During the Confirmation Period
If your entity needs to update UBO, SMO, or due diligence information during the confirmation period, the update must be completed before submitting the confirmation. Once all changes are made, the confirmation of information should be submitted in the same period.
After confirmation, any subsequent changes made outside the annual period do not require re-confirmation. This ensures entities only need to confirm once per year, reducing administrative burden while maintaining compliance.
Confirmation of UBO: Importance of Timely Compliance
Confirming UBO information is not just a legal requirement – it is a critical part of corporate governance and financial transparency. Maintaining accurate and up-to-date records helps prevent financial crimes, fosters investor confidence, and ensures the continued good standing of the entity in Cyprus.
Non-compliance may result in financial penalties, reputational damage, and even the potential removal of the entity from the Register of Business Entities.
Need Professional Assistance with UBO Confirmation?
Ensuring your Ultimate Beneficial Owners (UBO) information is accurately confirmed in the Beneficial Ownership Register is crucial for compliance with Cyprus’s AML regulations. IBCCS TAX is here to provide expert guidance and support throughout the entire confirmation process.
Whether you need help updating your UBO information, confirming details in the system, or understanding your compliance obligations, our team of professionals can assist you promptly and efficiently.
Contact IBCCS TAX Today:
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Email: [email protected]
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Phone (Cyprus): +357 222 58 777
Act now to avoid penalties and ensure your entity remains fully compliant. Our experts are ready to help!
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Ultimate Beneficial Owners Key Takeaways:
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All Cyprus-registered entities, including companies, SEs, and partnerships, must confirm UBO information between 1 October and 31 December 2025.
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Confirmation must include details of Ultimate Beneficial Owners (UBOs), Senior Management Officials (SMOs), or due diligence as applicable.
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Failure to confirm by the deadline incurs daily fines up to €5,000.
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Updates during the confirmation period must be submitted before confirmation. Subsequent changes outside the period do not require re-confirmation.
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Timely confirmation ensures compliance with Cyprus’s AML regulations and maintains the legal and financial integrity of your organization.
Frequently Asked Questions (FAQs)
Q1: What is an Ultimate Beneficial Owner (UBO) in Cyprus?
A UBO is the natural person who ultimately owns or controls a company or legal entity. This includes anyone holding more than 25% of shares or voting rights directly or indirectly.
Q2: Can I confirm UBO information before the period of 1 October – 31 December 2025?
No, confirmations can only be submitted during the official annual confirmation period.
Q3: What happens if my company changes its UBO after confirmation?
Changes occurring outside the confirmation period do not require re-confirmation until the next annual period.
Q4: What penalties apply for non-compliance?
A fine of €100 is applied on the first day of non-compliance, €50 per subsequent day, up to a maximum of €5,000.
