LAW INSIDER

Introduction Following the transposition of the Fifth AML Directive into the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 2007 to 2019 (the “Law”), which introduced the register of UBOs of companies and other legal entities accessible to the general public, the legislative...

Background   The (non-)filing of the Annual Return (HE 32 Form) to the Registrar of Companies (the “Registrar”) has always been one of the common omissions by Cyprus companies (together with the holding of AGMs and the filing of tax returns with the Tax Department).   Companies that are not...

A trust is a legal arrangement whereby property is bequeathed by one person (the “Settlor”) and managed by another person (the “Trustee”). The Trustee holds legal title to the trust property and is obligated to hold the property for the benefit of one or more beneficiaries. The main legal framework governing trusts...