Cecil Kilpin | December 2023 Newsletter

By |2023-12-20T14:16:53+02:00December 20th, 2023|Business, Environmental, Finance + Economics, Newsletter, Vat|

Beneficial Ownership. CIPC (Companies and Intellectual Property Commission) is an agency that regulates the registration and compliance of companies and intellectual property. One of its functions is to keep a register of beneficial ownership (BO) for companies and close corporations. A beneficial owner is a natural person who ultimately owns or controls a legal entity, such as a company or a close corporation. The CIPC requires any person with more than 5% beneficial ownership of a company or close corporation to file their BO information with the CIPC. CIPC has implemented a beneficial ownership interface with effect from 11 December 2023, which means that clients have to file their BO information before filing their annual returns. The interface also validates whether the [...]