Do You Have a Company in Cyprus? Don’t Miss the Mandatory UBO Confirmation

Cyprus companies are required to confirm their Ultimate Beneficial Owner (UBO) information by 31 December 2026. This procedure is mandatory even if the company’s beneficial ownership information has not changed.

From 1 October to 31 December 2026, Cyprus is conducting its annual confirmation period for Ultimate Beneficial Owner information in the Beneficial Ownership Register (BOR).

The relevant official announcement was published by the Department of Registrar of Companies and Intellectual Property of the Republic of Cyprus.

Failure to comply with these requirements may result in financial penalties. Therefore, it is important for owners and directors of Cyprus companies to complete the necessary procedures within the prescribed timeframe.

Who Is Required to Confirm UBO Information?

The annual confirmation requirement applies to legal entities subject to Cyprus legislation on the disclosure of beneficial ownership information, including:

• Companies registered in the Republic of Cyprus;
• European Companies (Societas Europaea, SE);
• Partnerships subject to the requirements of the Beneficial Ownership Register.

Confirmation must be completed regardless of whether there have been any changes to the ownership structure, shareholders, or ultimate beneficial owners.

Important: The absence of changes to UBO information does not exempt a company from the annual confirmation requirement.

UBO Confirmation Deadlines in 2026

The annual confirmation period runs from 1 October to 31 December 2026, inclusive.

During this period, companies must review the accuracy of their information in the Beneficial Ownership Register and complete the confirmation procedure through the electronic system. The procedure is required only once during the designated confirmation period.

If beneficial ownership information has changed, the company must first update the relevant details in the register and then complete the annual confirmation. This is particularly relevant for companies that have undergone changes in their corporate structure, ownership interests, or control arrangements during the year.

What Should Newly Registered Companies Do?

Particular attention should be paid to companies recently incorporated in Cyprus.

If the statutory 90-day deadline for the initial submission of beneficial ownership information falls between 1 October and 31 December 2026, these companies must also complete the annual confirmation procedure before the end of the confirmation period.

Therefore, the initial submission of beneficial ownership information and the annual confirmation are separate compliance obligations that must be considered as part of ongoing corporate administration.

What Penalties Apply for Missing the Deadline?

Financial penalties apply for failure to complete the annual UBO confirmation within the prescribed timeframe.

The penalties are as follows:

• €100 — for the first day of non-compliance;
• €50 — for each subsequent day;
• €5,000 — the maximum penalty.

Even if a company’s beneficial ownership information is accurate and up to date, failure to complete the annual confirmation within the required timeframe may result in penalties.

Companies are therefore advised not to postpone the procedure until the final days of December.

Professional Corporate Support Services in Cyprus

Our team provides comprehensive business support services in Cyprus, helping companies comply with corporate, administrative, accounting, and tax requirements.

Our services include corporate administration, compliance procedures, updating beneficial ownership information, accounting and tax support, as well as assistance with communications and procedures involving government authorities in the Republic of Cyprus.

If your company needs to complete its annual UBO confirmation in 2026, or if you would like to entrust the ongoing administration of your Cyprus company to experienced professionals, contact us.