As was earlier announced by the Federal Ministry of Justice and Consumer Protection, the Federal Office of Justice initiated administrative fine proceedings under Section 335 of the German Commercial Code before March 1, 2021 against companies whose statutory deadline for disclosing FS 2019 is December 31, 2020.

Further to the issued guidelines on the beneficial owner registration in Cyprus by the Registry of Companies, an initial period of 6 months starting from the 16th March 2021 was extended.