Beneficial Owner

A beneficial owner is the person who really owns or controls a company, even if their name isn’t officially listed on the company records.

In CIPC terms, this means:

• Anyone who owns 5% or more of the company (directly or through someone else).
• Or anyone who has the power to influence or control the company’s decisions.

Even if a person isn’t a shareholder or director on paper, if they have real control, they must be listed as a beneficial owner.

This is part of the new rules to help prevent fraud and money laundering. All companies must now submit a Beneficial Ownership Register to CIPC.

Also see when you need to submit an IT14SD form.

Who has to be declared, and by when, is set out in the beneficial ownership guide.