The Cyprus Securities and Exchange Commission (the ‘CySEC’), pursuant to Article 61C(4)(a) of the Prevention and Suppression of Money Laundering Terrorist Financing Law of 2007 (188(I)/2007), establishes and maintains a Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements ( the ‘Register’), in which information regarding express trusts, similar legal arrangements and their beneficial owners is submitted.
To this end, the CySEC, according to the Directive for the Prevention and Suppression of Money Laundering Terrorist Financing (Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements), has developed a System (CYPRUS TRUSTS BENEFICIAL OWNERS REGISTRY – ‘CyTBOR’) through which the Register is kept.
In particular, through CyTBOR, registration, disclosure, management, keeping and updating of information on beneficial owners of Express Trusts and Similar Legal Arrangements as well as access to the Register is carried out.