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.

https://www.reuters.com/article/us-cyprus-companies-aml/cyprus-to-lift-veil-of-secrecy-with-register-of-company-owners-idUSKBN2AV1FB

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