Cyprus AML Law in English
Cyprus AML Law in English
To access the English Translation of the Cyprus AML Law regarding the Prevention and Suppression of Money Laundering translated and consolidated untill law 61(I)/2021
Please click the link below.
On the 21st of June 2022 the CYSEC announced the translation o the Cyprus AML Law in English.
The prevention and suppression of money laundering and terrorist financing law 2007 – 2021 forms the backbone of combating money laundering and terrorist financing for Cyprus.
The unofficial consolidation of laws from 2007 until 2021 include the latest significant amendment which was the Cyprus Beneficial Owner Register and the provisions resulting from the Cyprus national implementation of the 5th AML Directive.
For Cypriot practitioners and Compliance officers this is a welcome addition since the majority of business and operations are run using the English language rather than the Greek. Accordingly having an unofficial translation makes operations a lot more practical.
Recent Publications on Cyprus AML Law in English
UBO Register ECJ Decision
UBO Register has been ruled as invalid by the ECJ since it is against Article 7 & 8 of the EU Charter of Fundamental Rights.
EU Sanctions Turkey due to Illegal drilling in Cyprus
On the 11th of November 2019, the Foreign Affairs Council of the European Union agreed to impose sanctions on Turkey without disclosing parties
UAE removed from EU Black List
The UAE has been removed from the EU Blacklist of tax heavens
About the author
Harris Sharpe
Author - Photographer
For many years he has worked and devoted his skills and efforts towards building a successful career as a leading executive. From humble beginnings, his aim has always been to yield results; with a keen focus to attention to detail and client satisfaction. His experience has always been varied and not specific, at times he preferred it. With that in mind, he has dealt with CySEC on licensing and ongoing regulation, international private equity and credit fund managers, NASDAQ and NYSE listed companies occasional millionaires as well as self-made millionaires. His passion though is difficult transaction work organizing and deploying people for a common goal. Harris enjoys reading and studying the Cyprus law and sharing that information on this website.
From the Video Library
Cyprus Beneficial Owner Register
The Cyprus beneficial ownership register is a work in the making. Cyprus though being a complete member of the European Union adopted national legislation to transpose EU Directive 2015/849 generally referred to as the “4th AML Directive” into national legislation. Conitnue Reading . . .
Cyprus Crossborder Mergers
The freedom of establishment is fundamental within the European Union, I have examined the cross border mergers directive in this article along with certain best practices to follow. Continue Reading . . .
