1. Introduction The Companies and Intellectual Property Commission (CIPC) maintains a register of Beneficial Ownership (BO) for all qualifying companies and close corporations. Any individual holding 5% or more of beneficial ownership in an entity must file their details with the CIPC. This guide explains how Affected Companies should submit …
Bongani Manjanja
How To File CIPC Beneficial Ownership: Distinguishing Between Affected and Non-Affected Companies
What Prompted These New Rules? Early in 2023, South Africa was placed on the Financial Action Task Force (FATF) “grey list,” signaling concerns about the country’s efforts to counter money laundering and the financing of terrorism. In response, the government swiftly enacted the General Laws (Anti-Money Laundering and Combating Terrorism …