CySec: regarding the late registration of trusts
The Cyprus Securities and Exchange Commission (‘CySEC’), following its announcement of March 7, 2014 wishes to inform all interested parties that Monday, March 10th was the final date for registering trusts which fall under the transitional
period of article 25A(10) of the Law regulating Companies providing Administrative Services and Related Matters of 2012 (‘the ASP Law’)
Though the failure to register a trust, or its delayed registration, does not affect the trust’s validity, it is both a criminal (a.26) and an administrative (a.27) offence.
CySEC will be lenient and understanding for any delayed registrations falling within a month’s period after the deadline of March 10. Any registrations after April 10, 2014 will be treated within the provisions of articles 26 and 27 of the ASP Law.
Source: CySec
