In relation to the above subject matter the Association would like to inform of the latest announcement issued by the Department of the Registrar of Companies and Intellectual Property dated 16/12/2024 titled “Important Changes in the Implementation Framework of the UBO Registry”. The announcement outlines the main amendments in relation to the Prevention and Combating of Money Laundering from Illegal Activities Law as published on the 06/12/2024 (The Prevention and Combating of Money Laundering from Illegal Activities (Amendment) (No. 2) Law of 2024 with number N.141(I)/2024).
To access the full announcement please click HERE (GR).
The Association has actively been engaged in the various consultation processes that took place both at a Parliamentary and governmental level and led to the above development. At the same time, it will continue to collaborate with all industry stakeholders and government bodies to address related members’ concerns and inform you of any further developments and/or initiatives undertaken.
It is noted that each member is obliged to comply with the circulars/guidelines/announcements of the relevant authorities and regulators. Any information contained in this notification/announcement, or any other notifications/announcements or circulars should be assessed on its own merits.
