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.