FAQ's-UBO's

Confirmation of information on the UBOs Register

1.How frequent shall we update the UBOs register if there are no changes to the beneficial owner’s details;

During the period from 1st October to 31st December of each calendar year, an Entity must confirm electronically, to the Registrar its beneficial owners.

2.What are the steps for the action of confirmation in the Beneficial Ownership Register system;

Access the Beneficial Ownership Register (BOR) system webpage.
Fill in your CYLogin credentials.
Select “Organisation update” and then “Beneficial Owners Update”.
Enter your entity’s registration number.
The organisation details will appear, then select “Study”.
A screen will appear with the following options: “Characteristics – Beneficial Owners”.
Select the “Beneficial Owners” tab. On the right side of the screen, select “Actions”, which will display “Beneficial Owner Update” and “Confirmation of UBO Details”.
By selecting “Confirmation of UBO Details”, a screen will appear titled “Update Details – Temporary Work Space”.
Select “Confirmation of UBOs 2024”.

(i) In the case of confirming the data of the Beneficial Owners (BO) or the senior management officials:

Once you select “Confirmation of UBOs 2024*”, the details of the BOs or the senior management official will appear for verification. If the details are correct and up to date, select “Confirmation”.

If the details of the BOs or the senior management official are incorrect or not up to date and changes are required, please select “Cancel”, then “Actions” and “Beneficial Owner Update”, where you must make the necessary changes. Afterwards, return to proceed with “Confirmation of UBO Details” following the above steps.

(ii) In the case of confirming due diligence:

Once you select “Confirmation of |UBOs 2024*”, in the next two screens that follow, select “Confirmation” again.

Finally, for both (i) and (ii), select “Final Submission” in order to complete the confirmation in the system.

It is noted that if the initial registration, amendment, or any other action in the BO system concerning the BO data, the senior management official, or the entity’s and other legal entity’s due diligence occurs during the confirmation period (i.e. between 1/10 and 31/12 of the current year), then the initial registration/amendment/other action must first be performed, followed by the confirmation of BO data, senior management official, or due diligence (as applicable), no later than 31/12 of the current year.

Please note that confirmation of data must only be carried out once during the period from 1/10 until 31/12 of the current year. In the event that after confirmation new changes or any other actions arise, then the confirmation of data does not need to be repeated.

*The year refers to the year of data confirmation. For example, if the confirmation concerns the year 2025, then you must select the step “Confirmation of UBOs 2025”.