Cyprus plans to launch register in March to identify company owners

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Cyprus plans to launch an Ultimate Beneficial Owner (UBO) register this month identifying the owners of thousands of companies on the island, lifting a veil of secrecy on opaque and complex corporate structures that operate within the region. The register plans to launch on March 16th and companies have been given a further 6 month period to collect and submit all the required information. Financial Institutions should take advantage of this register once fully launched.

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