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Department of Registrar of Companies and Official Receiver
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Submission of beneficial owners details to the Beneficial Owner Register for Partnerships

The Department of Registrar of Companies of the Ministry of Energy, Commerce and Industry announces that following a legal opinion from the Attorney General, all Partnerships registered in the Registrar of Companies pursuant to article 50 of the General and Limited Partnership and Business Names Law (Cap. 116) have the obligation to enter their beneficial ownership details onto the Beneficial Owner system. ('hereinafter BO').

Therefore, partnerships are considered legal entities that are registered with the Registrar of Companies and fall under the interpretation of "other legal entities" on Prevention and Suppression of Money Laundering and Terrorist Financing Law, 2007 (Ν188 (I)/2007).

For the time being, the submission of beneficial owners details for Partnerships onto the interim solution system is not currently available. The system is being updated and it is expected to launch by early October, while a relevant announcement will be issued by the Registrar of Companies.

The process for Partnerships will be similar to that of the submission of beneficial owners details for companies. See relevant information regarding the Directive as well as the guidance.

In addition, following our announcement dated 04.06.21 regarding the possibility for company officials to submit the beneficial owners details in October, please be advised that a similar opportunity will also be given to partners.

Partnerships are advised to proceed with the creation of a profile on "ARIADNE" following the procedure that also applies for companies.

For further information, please see the guidance as well as the frequently asked questions.

 

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