STEP

Title Research

Cyprus


6. Other relevant matters

Anti-money laundering rules

The ThirdMoney Laundering Directive is planned for full implementation by the end of 2009 namely:

  • registration or licensing of corporate and trust service providers;
  • identification and verification of ‘beneficiaries’ who are or could be entitled to 25 per cent or more of capital; and
  • regular training of persons working for licensed practitioners.

EU Directives and OECD

Cyprus is fully in compliance with OECD rules and the ‘Parent/Subsidiary’, ‘Mergers’, ‘Mutual Assistance and Cooperation’ and ‘Royalty and Interest’ Directives.


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