Requirements to submit beneficial ownership.

It is very important to know the requirements to submit beneficial ownership. CIPC has announced that they are going to deregister up to 500 000 companies due to non compliance. But what documents should be submitted?

Mandate

A mandate should be submitted where the director authorizes the person who submits the beneficial ownership information to do so. This mandate should also contain all the details of the company as well as the contact detail.

Security register

The security register should contain the details of all the beneficial owners of the company, this includes natural and juristic persons. The register should contain the ownership percentage, address and ethnicity.

ID copies

For natural persons, certified copies of their ID documents should be submitted. These should not be older than 3 months. For juristic persons, copies of the company documents should be submitted.

Disclosure

This is the company documents, or COR39 as it is called.

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