Filing Beneficial Ownership Information
In accordance with the Companies Amendment Law 2016 revision all registered companies must now maintain and file a Beneficial Ownership Register with the Registrar of Companies.
Ordinary companies have two options by which they can make their filings, if they are not using a Corporate Service Provider ( CSP) they can sign up to the Registry’s online portal CBP and submit their filings electronically or in the case where a CSP is being used then that service provider can also make the filing for the company.
Learn about Beneficial Ownership
What is a Beneficial Owner?
A beneficial owner is an individual who ultimately receives the benefits from the company’s activities. The Law considers any person who owns 25% or more of the shares of a company a beneficial owner.
What Information is required for Each Beneficial Owner?
- Full legal Name
- Residential Address
- Date of birth
- Identification – this can be in the form of a Passport, Driver’s Licence or any other Government issued photo identification.
- The date on which the person became Beneficial Owner, or in the event where a person relinquishes beneficial ownership – the share date that person ceased being a beneficial owner.
NOTE: Another registered company can also be considered a Beneficial Owner – in such instances information for the individual(s) who own 25% of that entity must also file the above information.
When do I have to file Beneficial Ownership information by?
All companies must file their Beneficial Ownership information on or before 30th June 2018 in order to avoid penalties for non-compliance.
Is there a fee to file my Beneficial Ownership information?
There is no fee.