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Suspension of access to the Register of Beneficial Owners for the General Public

The Department of the Registrar of Companies and Intellectual Property announced today, 28th November 2022, that based on a relevant decision of the Court of Justice of the European Union, dated 22/11/2022, in joined cases C-37/20 and C-601/20 (the “Decision”), access to the Register of Beneficial Owners to the general public is suspended from 23/11/2022.   

In accordance with the above Decision, Article 1(15)(c) of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018, according to which access to information on the Beneficial Owners of a legal entity was given to the general public, is invalid as it constitutes a serious interference with the fundamental rights in respect for private life and the protection of personal data, enshrined respectively in Articles 7 and 8 of the Charter of Fundamental Rights of the European Union.   

The relevant information to the competent and supervisory authorities and the Unit, as referred to in the respective Directive 112/2021 article 12 and in the amending Directive 116/2022, will continue to be provided under the current procedure.   

The relevant information to the obliged entities will be provided in accordance with the applicable procedure by additionally presenting of an affirmation to confirm that the details of the Beneficial Owners are requested within the context of taking the respective due diligence measures.   

The obligation of companies and cooperatives to submit and update the data of the Beneficial Owners is not affected by the above and continues to exist.