The Cyprus Securities and Exchange Commission has announced the launch of the CyTBOR Platform.
CyTBOR facilitates easy and immediate searches for up-to-date information and data about the beneficial owners of Express Trusts and Similar Legal Arrangements.
As highlighted by the Chairman of CySEC, Dr. George Theocharides, "this is a very important project both for the Cyprus Securities and Exchange Commission and our country, helping to provide full transparency and compliance for all supervised entities, ensuring the credibility of the market.”
It is now possible to directly search and identify the settlors, trustees, protectors (if any),
beneficiaries, and any other natural person exercising final control over the trust through direct or indirect ownership, or by other means.
CyTBOR will be accessible to trustees as of 17/05/2022 and all involved parties as of 17/06/2022.
Written by Angeliki Georgiou
Legal Consultant | Financial Associates International (FAI Comply)