Announcement regarding the obligation of natural and legal entities or bodies LISTED IN ANNEX I of Regulation 269/2014 EU to report funds or economic resources belonging to, owned, held or controlled by them and are located in the Republic of Cyprus.
Following the amendments of the 7th package regarding the circumvention of sanctions and particularly article 9 of Regulation 269/2014 ALL natural and legal entities or bodies LISTED IN ANNEX I must:
It is noted that failure to comply with the reporting liability will be considered as participation in activities the object or effect of which is to circumvent the measures referred to in Article 2 of the Regulation and also be considered as a criminal offence under Law 58(I)/2016.
Any information provided or received by the Ministry of Finance will be used only for the purposes for which it was provided or received.
The Ministry of Finance will handle all information received in compliance with applicable data protection laws.