The Department of the Registrar of Companies and Intellectual Property (DRCIP) has announced that all relevant entities are required to confirm the information recorded in the Beneficial Ownership Register (BOR) during the period from 1 October 2026 to 31 December 2026.
In accordance with the provisions of the Companies Law, Cap. 113, this requirement applies to companies incorporated or registered under the relevant legislation, European Public Limited Companies (SEs), and partnerships (collectively referred to as “Organisations”).
During this period, all relevant organisations must access the BOR system and confirm the accuracy of their beneficial ownership information. Where applicable, organisations must confirm the details of their Beneficial Owners (BOs) or Senior Management Officials (SMOs), or complete the relevant due diligence procedures.
Penalties for Non-Compliance
Please note that failure to complete the confirmation of information in the BOR system by 31st December 2026, regardless of any criminal liability or prosecution of any person, the company or other legal entity will be subject to a fine of:
The applicable administrative fines are as follows:
- €100 for the first day of non-compliance.
- €50 for each subsequent day of continued non-compliance.
- €5,000 as the maximum total administrative fine.
Organisations are therefore advised to complete the confirmation process within the prescribed deadline to avoid potential penalties.
Changes to Beneficial Ownership Information During the Confirmation Period
Where an initial registration, amendment, or other action relating to Beneficial Owner or Senior Management Official information takes place during the confirmation period, the relevant action must first be completed. The organisation must then complete the required confirmation of the BOs’ or SMOs’ information, or the applicable due diligence procedure, by 31 December 2026.
Where an organisation’s deadline for its initial submission, which is 90 days from the date of incorporation or registration, falls within the confirmation period, the relevant information must also be confirmed by 31 December 2026.
Confirmation is required only once during the period from 1 October to 31 December 2026. If a change or any other relevant action takes place after confirmation has been completed, no additional confirmation is required.
How we Can Support You
At KSA, we help businesses understand and comply with their regulatory obligations through clear, practical guidance and professional support.
For further information or assistance, please contact us at ksa.pre@ksa.com.cy
