Deadline 31/12/2024
The Registrar of Companies and Intellectual Property (RoC) has announced a
mandatory Ultimate Beneficial Owner (UBO) confirmation process for all entities registered under the Companies Law, Cap. 113, as well as European Public Limited Liability Companies (SE) and all Partnerships.
Annual Confirmation Requirement:
All entities incorporated or registered under the Companies Law, Cap. 113, are required to confirm their UBO details annually. The confirmation period for this year will extend from 1 October 2024 to 31 December 2024 and will be conducted through the Beneficial Owners Registry System.
Penalties for Non-Compliance:
Failure to complete this confirmation by
31st December 2024 will incur penalties as follows:
- An initial fine of €200 on the first day of non-compliance.
- A further charge of €100 for each day of continued non-compliance, up to a maximum total charge of €20,000.
How Can Bybloserve Management Assist You?
Bybloserve Management Ltd is fully prepared to assist you with updating and confirming your UBO details on the UBO Registry. This process includes verifying existing information, updating the UBO registry where necessary, and ensuring compliance with the annual confirmation requirement. We ensure that your entity avoids any potential penalties for non-compliance.
Should you have any inquiries or require further clarification regarding the UBO Registry process, please do not hesitate to contact us. We are dedicated to delivering the necessary support and expertise to facilitate your compliance efforts.