- Beneficial Ownership Register
Beneficial Ownership Register
“What is a Beneficial Ownership Register?”
A Beneficial Ownership Register is a formal document that lists the people who actually own or control your company (even if their names aren’t officially listed in your CIPC records)
It includes each beneficial owner’s:
- Full name
- ID or passport number
- Residential address
- How they are connected to the company (e.g. % ownership or type of control)
This register must be created, kept up to date, and submitted to CIPC.
“Do I need a Beneficial Ownership Register?”
Yes. If you own a private company or close corporation in South Africa, it’s now a legal requirement to:
- Identify your beneficial owners
- Compile a Beneficial Ownership Register
- Submit it to CIPC
- Update it if anything changes (like new shareholders or directors)
You must do this even if your beneficial owners are already listed as directors or shareholders.
“What goes into a Beneficial Ownership Register?”
For each beneficial owner, you must include:
- Full legal name
- South African ID number (or foreign passport number)
- Nationality and country of residence
- Their role or how they exercise control (e.g. owning 30% of shares)
- The date they became a beneficial owner
This information helps the CIPC verify who really controls the company, which promotes transparency and helps fight fraud and corruption.
“What happens if I don’t have a Beneficial Ownership Register?”
If you fail to submit or update your Beneficial Ownership Register…
- Your company may become non-compliant with CIPC
- You could face penalties or administrative fines
- It might delay important things like tender applications, funding, or bank account approvals
“How do I file my Beneficial Ownership Register?”
You can submit it online through CIPC, but the process can be tricky if you’re not sure what counts as control or ownership.
That’s where we come in.
Govchain can help you create and submit your Beneficial Ownership Register with ease.
We’ll make sure everything is accurate, compliant, and submitted on time.