REGISTRATION IN THE TRUSTS REGISTRY AND GUIDELINES
Under the “Memorandum of Understanding on Specific Economic Policy Conditionality” with Troika, the Competent Authorities – Cyprus Bar Association, Association, the Institute of Certified Public Accountants and the Exchange Commission – are obliged to establish and maintain a Trust Registry as per Article 25A of L. 196(I)/2012.
The Trusts Registers will not be available to the public but shall be available for inspection by the Competent Authorities.
In order to comply with the abovementioned obligation, all trusts falling under section 25A(2) of the Law 196(1)/2013 have to be submitted in the Trust Registry kept by the Cyprus Bar Association.
- Registration: 30-€ each
- Any amendment: 20-€ each
- Issuance of a Certificate: 50-€ each
1. Go to the Cyprus Bar Association website at http://www.cyprusbarassociation.org
2. Click on the banner “Trusts Registry” on the left side
3. You will be asked to login.
3a. If you have already registered for the Bankruptcy Register, then use the same access codes (username and password).
1.After you login, you will need to click the checkbox to request Signup to the Trusts section.
2. You will receive an email of acceptance within 24-48 hours
3b. If you are an Advocate and have not registered, then you need to create an account (click on Create an Account) first.
- Complete the form to register: Name, Username, Password, Email, Telephone, ID, and Law Office Name (as it’s registered in the Department of Registrar of Companies)
- Once you register you will receive an automatic email with your details and a message to confirm your account.
- Once you confirm your account, an administrator will be contacted to activate your account.
- Once your account is activated, you will be able to login into the http://cyprusbarassociation.org website using the username and password that you selected.
- You will need to follow the step 3.a to continue.
4. Once you login, you will go to New Trust and fill in the following fields:
- The name and full address of every trustee at all relevant times.
- The date of establishment of the trust
- Contact Lawyer Name
- Contact Email
- Contact Phone
5. Once you submit the trust, you can pay by clicking on Checkout, unless you want to add more trusts.
a) If yes, then click on the “New Trust” and follow the same procedure.
b) If you want to pay, go to Payment Pending and click on Checkout. It will redirect you to PayPal where you can pay using wither your PayPal account or credit card via PayPal.
6. To print out your invoice go to Transactions and select your specific transaction for printing the invoice/receipt.
7. Editing a Trust:
a) Go to the menu item “My Trusts”
b) Make any necessary changes.
c) Other than the fields mentioned in point 4, we also have.
- The date of any change in the law governing the trust to or from Cyprus law).
- The date of termination of the trust
d) For the trust to be verified, you will need to pay by clicking on Checkout after submitting