CySEC Restricts Trust Beneficial Ownership Register Access to Legitimate Interest Holders

CySEC Updates Directive on Express Trusts

The Cyprus Securities and Exchange Commission (CySEC) has officially published a new Policy Statement concerning the Directive on the Register of Beneficial Owners of Express Trusts and Similar Legal Arrangements. Issued on 4 June 2026 in Nicosia, the announcement outlines significant shifts in how information regarding trust beneficial ownership will be handled moving forward within the Cypriot jurisdiction.

At the core of the policy update is a major adjustment to data accessibility. The amended CySEC Directive aligns local frameworks with Law 188(I)/2007, specifically serving to harmonise national law with Article 74 of Directive (EU) 2024/1640. As a direct consequence of this alignment, general public access to beneficial ownership information has been officially revoked.

Implications of the Legitimate Interest Standard

Moving forward, access to the register will no longer be open to any interested member of the public. Instead, access will be strictly restricted to individuals or organisations that are able to successfully demonstrate a legitimate interest. This restrictive measure mirrors a landmark ruling handed down by the Court of Justice of the European Union, which balanced transparency mandates with fundamental rights to privacy and data protection.

For legal practitioners, trustees, and administrative service providers operating in Cyprus, this policy statement brings much-needed clarity regarding confidentiality and compliance obligations. While transparency advocates may view the rollback of public access as a step backward, privacy proponents and wealth management specialists will likely welcome the heightened security surrounding sensitive financial data.

Next Steps for Market Participants

Regulated entities and trustees must familiarise themselves with the updated requirements outlined in CySEC's new Policy Statement to ensure ongoing compliance with local and European standards. Queries regarding the precise interpretation and implementation of the content can be directed to CySEC’s Policy Department.

As Cyprus continues to refine its regulatory landscape in response to evolving EU directives, market participants must remain vigilant. Balancing robust anti-money laundering frameworks with constitutional privacy rights remains a delicate challenge for regulators across the bloc.

This article covers an official CySEC announcement. For more information, corrections or tips, contact report@cyprus-insider.com.