The register of beneficial owners of express trusts and similar legal arrangements is kept by the Cyprus Securities and Exchange Commission ("CySEC"). Unlike the Register of Companies, the Trust Register is not open to the public and “legitimate interest” must be proven to have access thereto. Importantly, a Cyprus company held by a Trust (Cyprus or foreign) will disclose in the Companies’ Register, as ultimate beneficial shareholder, the name of the Trust, its jurisdiction and the beneficial interest held only. No information on the settlor and beneficiaries is released, the person inquiring must then have reference to the Trust Register and demonstrate “legitimate interest”.
The Trust Register is kept electronically by CySEC and any express trust or similar legal arrangement must be registered therein provided that: (a) its trustee is located or residing in the Republic of Cyprus, or, (b) its trustee, which is located or residing outside the EU, establishes a business relationship or acquires immovable property on behalf of the express trust in the Republic of Cyprus.
CySEC can provide access of the Trust Register to the following:
If access is granted, any natural or legal person will have access to the name, month and year of birth, the country of residence and the nationality of the people involved in the trust and the type and extent of rights they hold in the trust.