CySEC Directive translated to English

CySEC Directive translated to English

CySEC Directive translated to English CySEC AML Directive in EnglishTo access the English Translation of the CySEC Directive on the Prevention and Suppression of Money Laundering Please click the link below. If you would like to see the main changes introduced by the...
Cyprus Company breached OFAC Sanctions

Cyprus Company breached OFAC Sanctions

On the 24th of September 2019 the U.S Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated four companies in accordance with Executive Order 13850 of November 1, 2018. The four companies operate in the oil sector of the...
Transfer of shares when is it effective?

Transfer of shares when is it effective?

In the case of Morsa Trading the district court held that a person becomes a registered member of a Cyprus company when that person’s name is registered in the register of members. Accordingly, the transfer of shares in a Cypriot Company requires, amongst other...
New Electronic Filing Process at the ROC

New Electronic Filing Process at the ROC

In yesterday’s announcement the Department of the Registrar of Companies and Official Receiver informed the public that as of the 2nd of October 2019 the practice currently followed for the electronic filing of forms HE4, HE57 and HE2 will change. Until now any person...
EC Action Plan on AML

EC Action Plan on AML

EC Action Plan on AML On December 4, 2018, the Council of the European Union affirmed the EC Action Plan on AML. The non-legislative short-term measures concern, inter allies, the following: the identification of the circumstances that contributed to the current money...