The Department of the Registrar of Companies and Intellectual Property (DRCIP) informs that all companies incorporated or registered under the Companies Law, Cap. 113, along with all European Public Limited Companies (SE) and Cooperatives (collectively referred to as “Entities”), are required to access the Beneficial Owners Registry (BOR) system. This requirement will be in effect from October 1, 2025, to December 31, 2025. During this period, Entities must confirm the details of their beneficial owners (BOs), senior management, or conduct due diligence, depending on what is applicable in each case.
Please be aware that if you do not confirm the details outlined in the BOR by December 31, 2025, the company or any other legal entity will incur a monetary penalty. The penalty will start at one hundred euros (€100) on the first day of non-compliance and will increase by fifty euros (€50) for each subsequent day of continued non-compliance. The total penalty will not exceed five thousand euros (€5,000), regardless of any criminal liability or prosecution of individuals involved.
It is important to note that if the initial registration, any changes, or any other actions in the Beneficial Ownership (BO) system regarding the details of beneficial owners (BOs), senior management, or the due diligence of a company or other legal entity occur during the confirmation period—specifically between October 1 and December 31 of the current year—then the following process must be followed:
First, complete the initial registration or any changes or actions. Once that is done, the details of the BOs, senior management, or due diligence (as applicable) must be confirmed by December 31 of the current year.
Please be aware that confirmation of the details should only be conducted once during the period from October 1 to December 31 of the current year. If any changes or other actions occur after this confirmation, there is no need to repeat the confirmation process.
The Beneficial Owners Registry is electronic, and updates can be made exclusively via the following link: