The law on the Regulation of Fiduciaries, Administration Businesses and Company Directors, which transposes the provisions of Directive 2005/60/EC into national law, has been enacted by the Parliament of Cyprus. It applies to persons and companies providing relevant fiduciary and other corporate services relating to the administration or management of trusts and companies in or from Cyprus, including directorship and secretarial services provided by a legal person, services such as holding shares in a nominee or trustee capacity, provision of a registered office, services related to opening and operating bank accounts and the ownership of financial assets on behalf of third parties.
February 20 2013