Target Group would like to inform you that the Department of Registrar of Companies and Intellectual Property (DRCIP) has officially announced the start of the 2025 Confirmation Process for Ultimate Beneficial Owners (UBOs).

This requirement applies to all legal entities registered under the Companies Law, Cap.113, including European Public Limited Liability Companies (SEs) and Partnerships (together referred to as “Entities”).

📅 Key Dates:
All Entities must log into the UBO Register platform between 1 October and 31 December 2025 to confirm their UBO information (or, where applicable, the details of senior management officials/due diligence).

⚠️ Penalties for Non-Compliance:

• €100 on the first day of delay
• €50 for each additional day of delay
• Maximum penalty: €5,000
  (These penalties apply regardless of any possible criminal liability or prosecution of an individual.)

💡 How we can help
Our team at M. Target Group is here to assist you with:

• Reviewing and confirming UBO details
• Providing guidance on compliance requirements
• Handling the process on your behalf

For further information, clarification, or professional assistance, please contact our specialists.