In the EU, a UBO (Ultimate Beneficial Owner) is defined as the natural person(s) who ultimately owns or controls a legal entity or legal arrangement, such as a company, partnership, trust, or foundation. The concept of UBO is designed to enhance transparency and prevent the use of legal entities for money laundering and financing terrorism.
To this end, many EU countries have implemented legislation that requires legal entities to identify their UBOs and to register this information with the relevant authorities. This process is known as UBO registration. The specific requirements for UBO registration vary from country to country, but generally, legal entities are required to provide information about their UBOs, such as their name, date of birth, nationality, and residential address.
How to register
In order to register your Cyprus company UBO to the European Union UBO directory, the company director needs to create a profile in “ARIADNE” portal, verify it in KEPO center and then proceed to submit online the relevant form and information required.
At RebaseCyprus, we include this service in our incorporation package to make it easier and simpler for company Shareholders and Directors to complete the company registration without complexities.