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Central Bank of Cyprus on “Shell Companies”

 

 

Further to the circular issue on 14th June 2018 for bank accounts of  “SHELL COMPANIES” in Cyprus a revised circular has been issued by the CENTRAL BANK OF CYPRUS on November 5th clarifying the status of “SHELL COMPANIES” and who is eligible to opening of accounts.

Click here to read the circular

 

Special attention should be given to point 1-b-v stating:

“any other case where convincing evidence can be provided that the

company/entity is engaged in legitimate business, with identifiable

ultimate beneficial owner(s).”

 

 

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marinos marinou

Marinos D. Marinou

Consulting Manager