During Incorporation: UBO, KYC, and Client Obligations

Once the incorporation process starts, the focus shifts to compliance and transparency. Cyprus is a reputable jurisdiction, and regulators expect companies to meet strict requirements.

UBO (Ultimate Beneficial Owner):

• Must be disclosed to the Registrar of Companies via the UBO Register.

• Any changes in ownership, address, or control must be updated within 14 days.

• UBOs must also cooperate with AML/KYC checks and provide documents such as passport/ID, proof of address, and source of wealth (especially in higher-risk cases).

  
  

KYC / AML procedures:

• For individuals: Passport, proof of address (utility bill), and financial background documents.

• For corporate entities: Certificate of incorporation, shareholder/board registers, corporate structure chart, and recent financial statements.

• Additional documents may include tax residency certificates or bank references.

  
  

Client responsibilities during incorporation:

• Approve and sign all incorporation documents:

  • Articles of Association

  • Declarations of compliance

  • Resolutions of shareholders/directors

  • Consent to act forms

    
    

• Provide complete and accurate information — misleading declarations can result in delays or even legal liability.

This stage sets the tone for your company’s future.

By ensuring compliance, you protect not only your business but also its reputation in international markets.