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€240
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Ultimate Beneficial Owners (UBO) Register – Compliance Guidance and Recent Amendments
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Highlights
Live Online
5 CPD Units | 5 Hours
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Course Overview
According to the Prevention and Suppression of Money Laundering Activities Laws of 2007-2024 (as amended), companies and any other legal entities incorporated in the Republic of Cyprus must obtain and hold adequate, accurate and current information on their beneficial ownership, including details of the beneficial interests held.
The programme will consider an analysis of recent developments on the established UBO platform, including the December 2024 legislative amendments (notably the revised penalty framework), as well as updates to the Directive on preventing and combating the laundering of income from illegal activities.
The programme will provide information on the updates as well as amendments of the new law and its implementation and instructions on the registration of companies, express trusts and similar legal arrangements, crypto-assets and bodies in the register of Beneficial Owners of the relevant competent authority.
Training Objectives
By the end of the programme, participants will:
Understand the EU Directive requirements relevant to the UBO Register
The 2024 legislative amendments and the current UBO platform requirements
Basics about submission in each case and form of UBO (Individual, trust and similar legal arrangements, listed entities etc)
Training Outline
The Ultimate Beneficial Ownership Register pursuant to the European Union AML Directive
The implementation of the Directive into local legislation
Practical application of the law and the obligation for Cyprus companies and officers
The UBO Platform kept by the Registrar of Companies
The current deadlines (including the annual confirmation window of 1 October – 31 December) and obligations for all kinds of UBO submissions
Penalties for non-compliance, including the revised (December 2024) reduced fine structure
Who Should Attend
The programme is ideal for:
C-Level Executives and Senior Managers in Investment Firms
Compliance Officers
Internal & External Auditors
Internal Lawyers & Legal Advisors
Financial and Banking Professionals
Corporate Governance Professionals
Training Style
The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations.
Most of the training will focus on ensuring the participants familiarize with the topic of the Beneficial owners registers and assessment of current strengths and weaknesses via formal assessment tools.
CPD Recognition
This programme may be approved for up to 5 CPD units in Financial Regulation and AML. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Facilitators
Sophia Nearchou
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Sophia Nearchou is the Head of Regulatory Compliance for one of the largest FinTechs Globally and in Cyprus. Before joining Revolut, she served as a Senior Associate and Anti-Money Laundering Compliance Officer (AMLCO) at a leading law firm in Limassol. In that role, she was responsible for ensuring the firm's alignment with international regulatory standards, specializing in complex sanctions regimes (UN, EU, US, and UK) and performing intensive due diligence for high-risk corporate structures. A legal professional by training, Sophia holds a Bachelor of Laws (LLB) with Honours from the University of Liverpool and is a certified HRDA trainer. She is highly specialized in the financial regulatory landscape, holding the CySEC Advanced Certificate and the ACAMS (Certified Anti-Money Laundering Specialist) designation. Her expertise in emerging risks is further backed by the ICA Specialist Certificate in AI for Compliance and the K2 Integrity designation as a Certified Risk Management Specialist in Russia Sanctions. Sophia is a frequent speaker and instructor for the European Institute of Management and Finance (EIMF), where she shares her expertise on corporate governance, UBO registers, and directors’ legal obligations.
Frequently Asked Questions
When will I receive my invoice?
The invoice is issued on the day the course starts.
What payment methods are accepted?
Payments can be made by bank transfer, cheque, or credit card.
When will my certificate be issued?
Certificates are issued within 7–10 days after the course has been completed, provided that the invoice has been paid.
How can I access my certificate?
Once your certificate has been issued, you will receive an automated email from Cademy notifying you that it is available.
Click the Get Your Certificate button in the email to download your certificate.
You can also access it from your Cademy account:
- Log in to your Cademy account from https://cademy.io
- Click on My Account from the top-right corner.
- From the drop-down menu select My Courses and Bookings.
- Choose the relevant course.
- Under Participants, click the three dots located next to your name.
- Select Get Certificate.
Where can I access the course material?
To access the course materials, such as presentations and recordings:
- Log in to your Cademy account from https://cademy.io
- Click on My Account from the top-right corner.
- From the drop-down menu select My Courses and Bookings.
- Choose the relevant course.
- Under Extra Details, you will find all the available course materials.