CIPC Beneficial Ownership Register - R1200

All companies (including external companies) and close corporations are required by law to lodge their "Beneficial Ownership Register" with CIPC by October 2023 or when you next file for your annual return.

Companies and close companies must now create and keep a Beneficial Ownership Register that includes the following entities:

Profit companies
Non-profit companies
External companies
Non-exempt state-owned companies
Close corporations
Listed companies who qualify as affected companies are, however, subject to a slightly different set of requirements, but the concept of Beneficial Ownership remains the same.

With regard to a firm, "beneficial ownership" refers to a person who, directly or indirectly, "ultimately owns that company or exercises effective control of that company.  

Beneficial Ownership can occur, for instance, when someone: possesses a beneficial interest in a company's shares; a person who utilizes or oversees the use of voting rights attached to stock in a firm; possesses the authority to appoint or remove a company's directors or has control over that activity; possesses the ability to exert influence over, including through a chain of ownership or control, a partnership, a legal entity, a group of people, or a person acting in accordance with the terms of a trust arrangement (such as a trustee or beneficiary);  can fundamentally affect a company's management in any other way. Individuals holding more than 5% Beneficial Ownership in a corporation are required by law to provide the CIPC with their information. Additionally, updates must be made to Beneficial Ownership within five days of any changes.

Please complete your companies details for us to assist you with your Beneficial Ownership Register.   

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