A number of key announcements on the UBO Register were issued which we have summarized below:
Operation of the Interim solution of the Ultimate Beneficiary Owner Registry after 31st July 2022
The Department of Registrar of Companies has issued an announcement on the operation of the interim solution of the UBO register in Greek here as follows:
The Department of the Registrar of Companies and Intellectual Property of the Ministry of Energy, Trade and Industry, informs the business community that the operation of the interim solution for registration in the Register of Ultimate Beneficiaries for companies and other legal entities will continue beyond July 31, 2022 and until the implementation of the final solution for which the Department will make an announcement soon.
it is requested that those companies or other legal entities that have not yet fulfilled their obligations to update the Register of Beneficial Beneficiaries based on the provisions of Directive (ΚΔΠP112/2021) of the Registrar of Companies, hasten to do so.
With the commencement of operation of the final solution, the provisions of article 11 of the Directive are automatically implemented, which provides for the imposition of a financial penalty on the company and each of its officials, for failure to comply with the relevant provisions of the Directive, as well as the provisions of article 61A(10 )(f)(i) of the Prevention and Combating of Money Laundering Law of 2007, which provides that failure to fulfill the obligation to submit information on the beneficial owners of companies and other legal entities constitutes a criminal offense.
Extension of the hours of receipt of applications for the identification of the profile of legal entities by the Department of the Registrar of Companies
We would also like to remind you that as per announcement of the Department, here in Greek, the Department will accept daily requests for identifications of legal entity profiles with the presentation of the necessary documents documents:
- Between the hours of 09.00 – 13.00 (Monday – Friday).
- Without any limitation on the number of applications submitted.
- In the specially designed space that has been created on the ground floor of the XENIOS building.
The processing of the work will be done by the authorized examiners of the Department in their offices and will be completed within 1 week at the latest.